Insider Selling: Joby Aviation (NYSE:JOBY) Insider Sells $58,612.54 in Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Gregory Bowles sold 3,493 shares of the business’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $16.78, for a total transaction of $58,612.54. Following the transaction, the insider owned 161,240 shares in the company, valued at $2,705,607.20. This represents a 2.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Friday, October 3rd, Gregory Bowles sold 4,776 shares of Joby Aviation stock. The shares were sold at an average price of $18.09, for a total transaction of $86,397.84.
• On Monday, September 22nd, Gregory Bowles sold 12,900 shares of Joby Aviation stock. The stock was sold at an average price of $15.75, for a total value 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 value of $114,759.20.
• On Friday, August 22nd, Gregory Bowles sold 3,402 shares of Joby Aviation stock. The stock was sold at an average price of $14.56, for a total value of $49,533.12.

Joby Aviation Trading Up 2.6%

JOBY opened at $18.26 on Monday. The stock’s fifty day simple moving average is $15.70 and its 200 day simple moving average is $11.02. Joby Aviation, Inc. has a 1-year low of $4.80 and a 1-year high of $20.95. The stock 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) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.06). The business had revenue of $0.02 million for the quarter, compared to analysts’ expectations of $0.05 million. Joby Aviation’s revenue was down 94.6% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.18) EPS. Equities analysts forecast that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on JOBY shares. Wall Street Zen cut shares of Joby Aviation from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. Cantor Fitzgerald reiterated a “neutral” rating and set a $9.00 target price on shares of Joby Aviation in a research note on Monday, June 23rd. HC Wainwright downgraded Joby Aviation from a “buy” rating to a “neutral” rating in a research note on Thursday, August 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Joby Aviation in a report on Saturday, September 27th. Finally, JPMorgan Chase & Co. lifted their target price on Joby Aviation from $5.00 to $7.00 and gave the stock an “underweight” rating in a report on Friday, August 1st. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $10.50.

Institutional Trading of Joby Aviation

Large investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC increased its position in shares of Joby Aviation by 284.8% in the second quarter. EverSource Wealth Advisors LLC now owns 2,540 shares of the company’s stock worth $27,000 after purchasing an additional 1,880 shares during the period. GPS Wealth Strategies Group LLC grew its stake in Joby Aviation by 32.0% during the second quarter. GPS Wealth Strategies Group LLC now owns 3,097 shares of the company’s stock worth $33,000 after buying an additional 750 shares in the last quarter. GAMMA Investing LLC increased its holdings in Joby Aviation by 773.9% in the 1st quarter. GAMMA Investing LLC now owns 5,663 shares of the company’s stock valued at $34,000 after buying an additional 5,015 shares during the period. Strs Ohio acquired a new position in shares of Joby Aviation in the 1st quarter valued at approximately $37,000. Finally, Ameritas Advisory Services LLC bought a new stake in shares of Joby Aviation during the 2nd quarter worth approximately $39,000. 52.85% of the stock is owned by institutional investors and hedge funds.

Joby Aviation Company Profile

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.