Joby Aviation (NYSE:JOBY) Insider Sells $52,784.94 in Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Gregory Bowles sold 4,602 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $11.47, for a total transaction of $52,784.94. Following the sale, the insider directly owned 182,319 shares in the company, valued at approximately $2,091,198.93. This represents a 2.46% decrease in their position. The transaction was disclosed in a filing with the SEC, 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 Friday, May 22nd, Gregory Bowles sold 3,486 shares of Joby Aviation stock. The stock was sold at an average price of $10.74, for a total transaction of $37,439.64.
• On Wednesday, April 8th, Gregory Bowles sold 357 shares of Joby Aviation stock. The stock was sold at an average price of $8.87, for a total transaction of $3,166.59.
• On Monday, April 6th, Gregory Bowles sold 4,720 shares of Joby Aviation stock. The stock was sold at an average price of $8.76, for a total transaction of $41,347.20.
• On Wednesday, March 11th, Gregory Bowles sold 1,075 shares of Joby Aviation stock. The stock was sold at an average price of $9.90, for a total value of $10,642.50.
• On Tuesday, March 10th, Gregory Bowles sold 1,172 shares of Joby Aviation stock. The stock was sold at an average price of $10.25, for a total value of $12,013.00.

Joby Aviation Stock Up 7.3%

Shares of NYSE JOBY opened at $12.32 on Friday. Joby Aviation, Inc. has a 12-month low of $7.34 and a 12-month high of $20.95. The company has a market capitalization of $12.11 billion, a PE ratio of -10.71 and a beta of 2.61. The company has a debt-to-equity ratio of 0.36, a current ratio of 22.06 and a quick ratio of 22.05. The firm’s 50-day moving average is $9.45 and its two-hundred day moving average is $11.66.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.09. The business had revenue of $24.25 million for the quarter, compared to the consensus estimate of $20.17 million. Joby Aviation had a negative net margin of 1,232.62% and a negative return on equity of 60.54%. During the same quarter in the prior year, the firm posted ($0.11) earnings per share. Equities analysts anticipate that Joby Aviation, Inc. will post -0.83 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on JOBY. Morgan Stanley cut their price target on shares of Joby Aviation from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 6th. HC Wainwright restated a “buy” rating and issued a $18.00 price objective on shares of Joby Aviation in a report on Thursday, March 12th. Oppenheimer set a $18.00 price objective on Joby Aviation in a report on Thursday, February 26th. Weiss Ratings downgraded Joby Aviation from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, May 4th. Finally, Canaccord Genuity Group cut their price objective on Joby Aviation from $15.50 to $11.50 and set a “hold” rating on the stock in a report on Thursday, May 7th. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Joby Aviation currently has a consensus rating of “Reduce” and an average price target of $13.06.

Hedge Funds Weigh In On Joby Aviation

Institutional investors and hedge funds have recently made changes to their positions in the business. Pier 88 Investment Partners LLC acquired a new position in shares of Joby Aviation during the third quarter worth approximately $635,000. DNB Asset Management AS boosted its position in shares of Joby Aviation by 16.3% during the fourth quarter. DNB Asset Management AS now owns 366,281 shares of the company’s stock worth $4,835,000 after buying an additional 51,344 shares during the period. Kemnay Advisory Services Inc. acquired a new position in shares of Joby Aviation during the third quarter worth approximately $2,830,000. Kingsview Wealth Management LLC boosted its position in shares of Joby Aviation by 838.2% during the third quarter. Kingsview Wealth Management LLC now owns 96,759 shares of the company’s stock worth $1,562,000 after buying an additional 86,446 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of Joby Aviation by 5.1% during the fourth quarter. Vanguard Group Inc. now owns 52,488,707 shares of the company’s stock worth $692,851,000 after buying an additional 2,540,382 shares during the period. 52.85% of the stock is currently owned by hedge funds and other institutional investors.

About Joby Aviation

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.