Joby Aviation (NYSE:JOBY) Insider Sells $79,237.76 in Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Gregory Bowles sold 5,383 shares of Joby Aviation stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of $14.72, for a total value of $79,237.76. Following the transaction, the insider directly owned 162,674 shares in the company, valued at approximately $2,394,561.28. This trade represents a 3.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Tuesday, January 13th, Gregory Bowles sold 894 shares of Joby Aviation stock. The stock was sold at an average price of $14.83, for a total transaction of $13,258.02.
• On Friday, January 2nd, Gregory Bowles sold 4,194 shares of Joby Aviation stock. The shares were sold at an average price of $13.51, for a total transaction of $56,660.94.
• On Tuesday, November 25th, Gregory Bowles sold 3,931 shares of Joby Aviation stock. The shares were sold at an average price of $13.72, for a total transaction of $53,933.32.
• On Monday, November 24th, Gregory Bowles sold 4,604 shares of Joby Aviation stock. The stock was sold at an average price of $13.31, for a total transaction of $61,279.24.

Joby Aviation Stock Up 0.9%

Shares of NYSE:JOBY opened at $15.42 on Friday. The firm has a fifty day moving average of $14.56 and a two-hundred day moving average of $15.20. Joby Aviation, Inc. has a 12-month low of $4.96 and a 12-month high of $20.95. The firm has a market capitalization of $14.06 billion, a P/E ratio of -11.51 and a beta of 2.56.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings results on Wednesday, November 5th. The company reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.29). The firm had revenue of $22.57 million for the quarter, compared to analyst estimates of $0.02 million. The company’s revenue was up 7962.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.21) earnings per share. Equities research analysts expect that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. The Goldman Sachs Group started coverage on Joby Aviation in a report on Monday, December 1st. They set a “sell” rating and a $10.00 price target for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $22.00 price objective on shares of Joby Aviation in a research report on Thursday, November 6th. HC Wainwright reiterated a “neutral” rating on shares of Joby Aviation in a research note on Monday, November 24th. Morgan Stanley boosted their target price on shares of Joby Aviation from $7.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 9th. Finally, JPMorgan Chase & Co. raised their price target on shares of Joby Aviation from $7.00 to $8.00 and gave the company an “underweight” rating in a report on Friday, October 31st. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $13.43.

Institutional Investors Weigh In On Joby Aviation

A number of large investors have recently added to or reduced their stakes in the stock. Asset Planning Inc grew its holdings in Joby Aviation by 70.0% during the third quarter. Asset Planning Inc now owns 1,700 shares of the company’s stock valued at $27,000 after purchasing an additional 700 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake 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 buying an additional 1,880 shares during the last quarter. Canton Hathaway LLC bought a new stake in shares of Joby Aviation during the 3rd quarter worth $29,000. Strategic Advocates LLC acquired a new position in Joby Aviation in the 3rd quarter valued at $29,000. Finally, Hilltop National Bank acquired a new position in Joby Aviation in the 3rd quarter valued at $32,000. Institutional investors own 52.85% of the company’s stock.

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.