Joby Aviation (NYSE:JOBY) Insider Sells 6,138 Shares of Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Gregory Bowles sold 6,138 shares of Joby Aviation stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $6.35, for a total value of $38,976.30. Following the sale, the insider owned 190,170 shares in the company, valued at $1,207,579.50. This trade represents a 3.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, August 25th, Gregory Bowles sold 4,575 shares of Joby Aviation stock. The stock was sold at an average price of $7.23, for a total value of $33,077.25.
• On Monday, August 24th, Gregory Bowles sold 3,531 shares of Joby Aviation stock. The stock was sold at an average price of $7.34, for a total value of $25,917.54.
• 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 value 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 Performance

Shares of JOBY traded down $0.20 during mid-day trading on Wednesday, reaching $6.24. 18,097,012 shares of the company’s stock were exchanged, compared to its average volume of 31,718,594. The company has a debt-to-equity ratio of 0.40, a current ratio of 17.98 and a quick ratio of 17.98. The stock has a market capitalization of $6.17 billion, a PE ratio of -6.30 and a beta of 2.68. The business’s fifty day simple moving average is $7.23 and its 200-day simple moving average is $8.67. Joby Aviation, Inc. has a 52-week low of $5.93 and a 52-week high of $19.98.

Joby Aviation (NYSE:JOBY) last announced its earnings results on Wednesday, August 5th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $38.64 million during the quarter, compared to analyst estimates of $30.20 million. During the same period in the previous year, the firm earned ($0.41) earnings per share. The business’s revenue was up 257493.3% compared to the same quarter last year. On average, equities research analysts expect that Joby Aviation, Inc. will post -1 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Joby Aviation

Several institutional investors have recently made changes to their positions in the stock. Lingotto Investment Management LLP increased its position in Joby Aviation by 34.2% during the fourth quarter. Lingotto Investment Management LLP now owns 3,138,240 shares of the company’s stock worth $41,425,000 after buying an additional 799,260 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Joby Aviation by 30.6% in the second quarter. Russell Investments Group Ltd. now owns 352,874 shares of the company’s stock worth $3,148,000 after acquiring an additional 82,737 shares during the last quarter. Norges Bank purchased a new stake in shares of Joby Aviation in the fourth quarter valued at $32,269,000. SummitTX Capital L.P. purchased a new stake in shares of Joby Aviation in the first quarter valued at $1,127,000. Finally, Clear Street Group Inc. boosted its stake in shares of Joby Aviation by 59.9% during the fourth quarter. Clear Street Group Inc. now owns 3,593,043 shares of the company’s stock valued at $47,428,000 after acquiring an additional 1,346,205 shares during the last quarter. 52.85% of the stock is currently owned by hedge funds and other institutional investors.

About Joby Aviation

Joby Aviation, Inc develops electric vertical takeoff and landing (eVTOL) aircraft intended to support commercial air-taxi services. Its aircraft are designed to take off and land vertically like helicopters while traveling with the speed and range of conventional aircraft, with the goal of providing quieter, lower-emission transportation for urban and regional journeys.

The company is pursuing an integrated business model that includes designing and manufacturing its aircraft, operating air-taxi services, and providing related technology and infrastructure.