Joby Aviation (NYSE:JOBY) Insider Sells $25,917.54 in Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Gregory Bowles sold 3,531 shares of Joby Aviation stock in a transaction on Monday, August 24th. The stock was sold at an average price of $7.34, for a total transaction of $25,917.54. Following the completion of the transaction, the insider owned 196,561 shares in the company, valued at approximately $1,442,757.74. The trade was a 1.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Gregory Bowles also recently made the following trade(s):

• On Tuesday, August 25th, Gregory Bowles sold 4,575 shares of Joby Aviation stock. The shares were sold at an average price of $7.23, for a total transaction of $33,077.25.
• On Monday, July 6th, Gregory Bowles sold 4,724 shares of Joby Aviation stock. The shares were sold at an average price of $9.10, for a total transaction of $42,988.40.
• On Thursday, July 2nd, Gregory Bowles sold 5,158 shares of Joby Aviation stock. The shares were sold at an average price of $8.92, for a total value of $46,009.36.

Joby Aviation Stock Up 0.3%

JOBY opened at $7.16 on Friday. Joby Aviation, Inc. has a 12 month low of $6.63 and a 12 month high of $19.98. The company has a current ratio of 17.98, a quick ratio of 17.98 and a debt-to-equity ratio of 0.40. The business’s 50-day moving average price is $7.99 and its 200-day moving average price is $9.11. The company has a market cap of $7.08 billion, a P/E ratio of -7.23 and a beta of 2.73.

Joby Aviation (NYSE:JOBY) last issued its earnings results on Wednesday, August 5th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.02). Joby Aviation had a negative net margin of 755.11% and a negative return on equity of 55.29%. The company had revenue of $38.64 million for the quarter, compared to analysts’ expectations of $30.20 million. During the same quarter in the prior year, the company earned ($0.41) earnings per share. The company’s revenue was up 257493.3% compared to the same quarter last year. On average, equities analysts expect that Joby Aviation, Inc. will post -1 EPS for the current year.

Analyst Upgrades and Downgrades

JOBY has been the subject of a number of analyst reports. Barclays raised Joby Aviation to a “hold” rating in a research note on Wednesday, July 29th. Susquehanna set a $18.00 target price on shares of Joby Aviation in a research note on Thursday, August 6th. Weiss Ratings upgraded shares of Joby Aviation from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 14th. Needham & Company LLC dropped their price target on shares of Joby Aviation from $18.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Finally, HC Wainwright reissued a “buy” rating on shares of Joby Aviation in a report on Thursday, August 6th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $13.81.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. EP Wealth Advisors LLC raised its position in Joby Aviation by 2.2% during the 2nd quarter. EP Wealth Advisors LLC now owns 38,228 shares of the company’s stock valued at $403,000 after purchasing an additional 821 shares during the last quarter. CIBC Private Wealth Group LLC grew its position in shares of Joby Aviation by 38.7% in the 4th quarter. CIBC Private Wealth Group LLC now owns 4,256 shares of the company’s stock worth $56,000 after buying an additional 1,188 shares during the last quarter. Strs Ohio grew its position in shares of Joby Aviation by 2.5% in the 1st quarter. Strs Ohio now owns 50,000 shares of the company’s stock worth $413,000 after buying an additional 1,200 shares during the last quarter. Scotia Capital Inc. increased its stake in shares of Joby Aviation by 8.1% during the third quarter. Scotia Capital Inc. now owns 16,663 shares of the company’s stock valued at $269,000 after buying an additional 1,250 shares during the period. Finally, Parallel Advisors LLC increased its stake in shares of Joby Aviation by 23.3% during the third quarter. Parallel Advisors LLC now owns 6,845 shares of the company’s stock valued at $110,000 after buying an additional 1,295 shares during the period. Hedge funds and other institutional investors own 52.85% of the company’s stock.

Joby Aviation Company Profile

Joby Aviation Inc is an aerospace company focused on developing electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility. The company’s core mission is to provide zero-emission aerial ridesharing services, combining the speed of helicopters with the cost efficiency and environmental benefits of electric propulsion. Joby’s eVTOL design emphasizes low noise profiles and high reliability, positioning the company to address congestion challenges in major metropolitan areas.

The company’s flagship aircraft is designed to carry a pilot and up to four passengers, offering point-to-point travel at speeds competitive with ground transportation.