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 stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $16.78, for a total value of $58,612.54. Following the transaction, the insider directly owned 161,240 shares in the company, valued at $2,705,607.20. The trade was a 2.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Friday, October 3rd, Gregory Bowles sold 4,776 shares of Joby Aviation stock. The stock was sold at an average price of $18.09, for a total value 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 stock was 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 Friday. Joby Aviation, Inc. has a 12-month low of $4.80 and a 12-month high of $20.95. The business’s fifty day simple moving average is $15.70 and its 200-day simple moving average is $10.99. The company has a market capitalization of $15.63 billion, a price-to-earnings ratio of -17.06 and a beta of 2.52.

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

Analyst Ratings Changes

JOBY has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Joby Aviation in a research report on Saturday, September 27th. JPMorgan Chase & Co. raised their price objective on Joby Aviation from $5.00 to $7.00 and gave the company an “underweight” rating in a research report on Friday, August 1st. Canaccord Genuity Group downgraded Joby Aviation from a “buy” rating to a “hold” rating and raised their price objective for the company from $12.00 to $17.00 in a research report on Thursday, August 7th. Wall Street Zen downgraded Joby Aviation from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. Finally, HC Wainwright downgraded Joby Aviation from a “buy” rating to a “neutral” rating in a report on Thursday, August 7th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $10.50.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. GAMMA Investing LLC raised its stake in shares of Joby Aviation by 16.1% in the third quarter. GAMMA Investing LLC now owns 5,969 shares of the company’s stock worth $96,000 after purchasing an additional 827 shares during the last quarter. Valeo Financial Advisors LLC purchased a new position in shares of Joby Aviation in the second quarter worth about $461,000. Squarepoint Ops LLC raised its stake in shares of Joby Aviation by 36,302.4% in the second quarter. Squarepoint Ops LLC now owns 760,251 shares of the company’s stock worth $8,021,000 after purchasing an additional 762,351 shares during the last quarter. Thrivent Financial for Lutherans purchased a new position in shares of Joby Aviation in the second quarter worth about $168,000. Finally, Nautilus Advisors LLC purchased a new position in shares of Joby Aviation in the second quarter worth about $119,000. 52.85% of the stock is currently 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.