Joby Aviation (NYSE:JOBY) Insider Sells $44,104.32 in Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Gregory Bowles sold 4,464 shares of the company’s stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $9.88, for a total value of $44,104.32. Following the sale, the insider owned 174,285 shares of the company’s stock, valued at $1,721,935.80. This represents a 2.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Tuesday, February 10th, Gregory Bowles sold 816 shares of Joby Aviation stock. The shares were sold at an average price of $10.55, for a total value of $8,608.80.
• On Wednesday, January 14th, Gregory Bowles sold 5,383 shares of Joby Aviation stock. The stock was sold at an average price of $14.72, for a total value of $79,237.76.
• On Tuesday, January 13th, Gregory Bowles sold 894 shares of Joby Aviation stock. The shares were 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 stock was 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 shares were sold at an average price of $13.31, for a total transaction of $61,279.24.

Joby Aviation Stock Performance

Shares of NYSE:JOBY traded up $0.08 during midday trading on Tuesday, hitting $9.98. 15,713,523 shares of the company’s stock traded hands, compared to its average volume of 30,759,029. The firm’s fifty day moving average price is $13.30 and its two-hundred day moving average price is $14.77. Joby Aviation, Inc. has a twelve month low of $4.96 and a twelve month high of $20.95. The company has a market cap of $9.10 billion, a PE ratio of -7.45 and a beta of 2.57.

Hedge Funds Weigh In On Joby Aviation

Hedge funds have recently added to or reduced their stakes in the business. Toyota Motor Corp increased its stake in shares of Joby Aviation by 63.1% during the second quarter. Toyota Motor Corp now owns 128,454,401 shares of the company’s stock valued at $1,355,194,000 after acquiring an additional 49,701,790 shares during the period. Vanguard Group Inc. boosted its holdings in Joby Aviation by 13.2% during the third quarter. Vanguard Group Inc. now owns 49,948,325 shares of the company’s stock worth $806,166,000 after buying an additional 5,828,189 shares in the last quarter. Man Group plc acquired a new position in Joby Aviation in the third quarter worth approximately $40,283,000. Norges Bank bought a new position in shares of Joby Aviation in the fourth quarter valued at $32,269,000. Finally, Clear Street Group Inc. acquired a new stake in shares of Joby Aviation during the 3rd quarter valued at $36,264,000. Institutional investors and hedge funds own 52.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on JOBY shares. HC Wainwright reissued a “neutral” rating on shares of Joby Aviation in a research report on Monday, November 24th. The Goldman Sachs Group started coverage on shares of Joby Aviation in a research report on Monday, December 1st. They issued a “sell” rating and a $10.00 price objective for the company. Zacks Research raised Joby Aviation from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 4th. JPMorgan Chase & Co. upped their target price on Joby Aviation from $7.00 to $8.00 and gave the company an “underweight” rating in a research report on Friday, October 31st. Finally, Needham & Company LLC reissued a “buy” rating and set a $22.00 price target on shares of Joby Aviation in a research report on Thursday, November 6th. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Joby Aviation presently has an average rating of “Reduce” and a consensus price target of $13.21.

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.