Gregory Bowles Sells 7,748 Shares of Joby Aviation, Inc. (NYSE:JOBY) Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Gregory Bowles sold 7,748 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $8.08, for a total transaction of $62,603.84. Following the completion of the sale, the insider now directly owns 29,235 shares of the company’s stock, valued at $236,218.80. The trade was a 20.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Wednesday, October 2nd, Gregory Bowles sold 2,911 shares of Joby Aviation stock. The stock was sold at an average price of $5.79, for a total transaction of $16,854.69.
• On Monday, September 23rd, Gregory Bowles sold 26,775 shares of Joby Aviation stock. The stock was sold at an average price of $5.14, for a total transaction of $137,623.50.

Joby Aviation Price Performance

Shares of NYSE:JOBY opened at $7.91 on Wednesday. The company’s fifty day moving average is $5.65 and its two-hundred day moving average is $5.42. Joby Aviation, Inc. has a 12-month low of $4.50 and a 12-month high of $8.43.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.02). The business had revenue of $0.28 million for the quarter, compared to analyst estimates of $0.06 million. Joby Aviation had a negative net margin of 42,844.57% and a negative return on equity of 51.76%. During the same period in the previous year, the firm posted ($0.13) earnings per share. On average, equities research analysts forecast that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. HC Wainwright reiterated a “buy” rating and issued a $9.00 price target on shares of Joby Aviation in a research report on Wednesday, October 2nd. Canaccord Genuity Group dropped their price target on shares of Joby Aviation from $10.50 to $9.75 and set a “buy” rating on the stock in a research report on Tuesday, October 29th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $10.00 price target on shares of Joby Aviation in a research report on Monday, September 30th. JPMorgan Chase & Co. dropped their price target on shares of Joby Aviation from $6.00 to $5.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 29th. Finally, Needham & Company LLC assumed coverage on shares of Joby Aviation in a research report on Tuesday, November 19th. They issued a “buy” rating and a $8.00 price target on the stock. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $8.35.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Caprock Group LLC increased its holdings in Joby Aviation by 179.5% in the third quarter. Caprock Group LLC now owns 124,404 shares of the company’s stock worth $626,000 after buying an additional 79,896 shares during the last quarter. Susquehanna Fundamental Investments LLC increased its stake in shares of Joby Aviation by 1,018.5% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 677,116 shares of the company’s stock worth $3,453,000 after purchasing an additional 616,579 shares during the last quarter. Rhumbline Advisers increased its stake in shares of Joby Aviation by 26.7% during the 2nd quarter. Rhumbline Advisers now owns 548,724 shares of the company’s stock worth $2,798,000 after purchasing an additional 115,483 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Joby Aviation by 9.1% during the 1st quarter. Vanguard Group Inc. now owns 34,659,624 shares of the company’s stock valued at $185,776,000 after purchasing an additional 2,889,012 shares in the last quarter. Finally, Cetera Advisors LLC lifted its stake in shares of Joby Aviation by 32.9% in the 1st quarter. Cetera Advisors LLC now owns 20,276 shares of the company’s stock valued at $109,000 after purchasing an additional 5,025 shares during the last quarter. 45.54% of the stock is owned by hedge funds and other institutional investors.

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.