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

Joby Aviation, Inc. (NYSE:JOBY) insider Gregory Bowles sold 7,748 shares of Joby Aviation stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $8.08, for a total transaction of $62,603.84. Following the completion of the transaction, the insider now directly owns 29,235 shares of the company’s stock, valued at approximately $236,218.80. This trade represents a 20.95 % decrease in their position. The sale 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 shares were 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 shares were sold at an average price of $5.14, for a total value of $137,623.50.

Joby Aviation Stock Down 3.7 %

Shares of Joby Aviation stock traded down $0.30 during trading on Tuesday, reaching $7.90. The company’s stock had a trading volume of 21,353,387 shares, compared to its average volume of 7,932,598. The business’s 50-day moving average price is $5.60 and its 200-day moving average price is $5.40. Joby Aviation, Inc. has a 52 week low of $4.50 and a 52 week high of $8.43. The firm has a market cap of $6.04 billion, a PE ratio of -11.27 and a beta of 1.97.

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

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Joby Aviation

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Joby Aviation by 9.1% during the first quarter. Vanguard Group Inc. now owns 34,659,624 shares of the company’s stock worth $185,776,000 after buying an additional 2,889,012 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Joby Aviation by 7.7% during the 3rd quarter. Geode Capital Management LLC now owns 9,390,720 shares of the company’s stock worth $47,245,000 after acquiring an additional 670,852 shares in the last quarter. State Street Corp increased its stake in Joby Aviation by 9.5% in the third quarter. State Street Corp now owns 9,372,636 shares of the company’s stock valued at $47,144,000 after acquiring an additional 812,248 shares during the last quarter. Ieq Capital LLC raised its position in Joby Aviation by 68.6% during the second quarter. Ieq Capital LLC now owns 4,441,574 shares of the company’s stock valued at $22,652,000 after purchasing an additional 1,807,054 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Joby Aviation by 41.8% during the second quarter. Bank of New York Mellon Corp now owns 1,474,677 shares of the company’s stock worth $7,521,000 after purchasing an additional 435,069 shares during the last quarter. Institutional investors and hedge funds own 45.54% of the company’s stock.

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.