Gregory Bowles Sells 4,776 Shares of Joby Aviation (NYSE:JOBY) Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Gregory Bowles sold 4,776 shares of the firm’s stock in a transaction that occurred on Friday, October 3rd. The stock was sold at an average price of $18.09, for a total transaction of $86,397.84. Following the transaction, the insider directly owned 156,464 shares in the company, valued at approximately $2,830,433.76. This trade represents a 2.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

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

• On Thursday, October 2nd, Gregory Bowles sold 3,493 shares of Joby Aviation stock. The stock was sold at an average price of $16.78, for a total transaction of $58,612.54.
• On Monday, September 22nd, Gregory Bowles sold 12,900 shares of Joby Aviation stock. The shares were sold at an average price of $15.75, for a total transaction of $203,175.00.
• On Monday, August 25th, Gregory Bowles sold 7,754 shares of Joby Aviation stock. The shares were sold at an average price of $14.80, for a total transaction of $114,759.20.
• On Friday, August 22nd, Gregory Bowles sold 3,402 shares of Joby Aviation stock. The shares were sold at an average price of $14.56, for a total transaction of $49,533.12.

Joby Aviation Stock Performance

NYSE JOBY opened at $18.26 on Friday. The firm’s 50 day moving average price is $15.70 and its 200-day moving average price is $10.99. Joby Aviation, Inc. has a 52-week low of $4.80 and a 52-week high of $20.95. The company has a market cap of $15.63 billion, a PE ratio of -17.06 and a beta of 2.52.

Joby Aviation (NYSE:JOBY) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.06). The firm had revenue of $0.02 million for the quarter, compared to analysts’ expectations of $0.05 million. During the same quarter in the previous year, the company posted ($0.18) EPS. The business’s quarterly revenue was down 94.6% on a year-over-year basis. On average, analysts forecast that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on JOBY shares. HC Wainwright downgraded shares of Joby Aviation from a “buy” rating to a “neutral” rating in a research note on Thursday, August 7th. Wall Street Zen downgraded shares of Joby Aviation from a “hold” rating to a “sell” rating in a research note on Saturday, August 2nd. Cantor Fitzgerald restated a “neutral” rating and issued a $9.00 target price on shares of Joby Aviation in a research note on Monday, June 23rd. JPMorgan Chase & Co. raised their target price on shares of Joby Aviation from $5.00 to $7.00 and gave the company an “underweight” rating in a research note on Friday, August 1st. Finally, Canaccord Genuity Group downgraded shares of Joby Aviation from a “buy” rating to a “hold” rating and raised their target price for the company from $12.00 to $17.00 in a research note on Thursday, August 7th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $10.50.

Institutional Investors Weigh In On Joby Aviation

Several institutional investors have recently bought and sold shares of JOBY. Ameriprise Financial Inc. acquired a new stake in Joby Aviation in the fourth quarter valued at approximately $498,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Joby Aviation by 15.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 444,860 shares of the company’s stock worth $3,617,000 after buying an additional 57,929 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Joby Aviation in the fourth quarter worth $121,000. California State Teachers Retirement System raised its holdings in shares of Joby Aviation by 1.1% in the fourth quarter. California State Teachers Retirement System now owns 186,003 shares of the company’s stock worth $1,512,000 after buying an additional 2,065 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Joby Aviation by 5,161.0% in the first quarter. GAMMA Investing LLC now owns 34,091 shares of the company’s stock worth $205,000 after buying an additional 33,443 shares during the last quarter. 52.85% of the stock is currently owned by institutional investors and hedge funds.

About Joby Aviation

Joby Aviation, Inc, a vertically integrated air mobility company, engages in building an electric vertical takeoff and landing aircraft optimized to deliver air transportation as a service. The company intends to build an aerial ridesharing service, as well as developing an application-based platform that will enable consumers to book rides.