Insider Selling: Joby Aviation (NYSE:JOBY) Insider Sells $33,077.25 in Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Gregory Bowles sold 4,575 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $7.23, for a total value of $33,077.25. Following the sale, the insider owned 191,986 shares of the company’s stock, valued at approximately $1,388,058.78. The trade was a 2.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Monday, August 24th, Gregory Bowles sold 3,531 shares of Joby Aviation stock. The shares were sold at an average price of $7.34, for a total transaction of $25,917.54.
• On Monday, July 6th, Gregory Bowles sold 4,724 shares of Joby Aviation stock. The stock was sold at an average price of $9.10, for a total transaction of $42,988.40.
• On Thursday, July 2nd, Gregory Bowles sold 5,158 shares of Joby Aviation stock. The stock was sold at an average price of $8.92, for a total transaction of $46,009.36.

Joby Aviation Trading Up 0.3%

Shares of Joby Aviation stock opened at $7.16 on Friday. The company has a current ratio of 17.98, a quick ratio of 17.98 and a debt-to-equity ratio of 0.40. The company has a fifty day simple moving average of $7.99 and a 200-day simple moving average of $9.11. The stock has a market cap of $7.08 billion, a price-to-earnings ratio of -7.23 and a beta of 2.73. Joby Aviation, Inc. has a 12-month low of $6.63 and a 12-month high of $19.98.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.02). Joby Aviation had a negative return on equity of 55.29% and a negative net margin of 755.11%.The company had revenue of $38.64 million for the quarter, compared to analyst estimates of $30.20 million. During the same quarter in the prior year, the business earned ($0.41) earnings per share. Joby Aviation’s revenue was up 257493.3% compared to the same quarter last year. On average, equities analysts forecast that Joby Aviation, Inc. will post -1 EPS for the current fiscal year.

Hedge Funds Weigh In On Joby Aviation

Large investors have recently bought and sold shares of the company. Corient Private Wealth LP boosted its holdings in shares of Joby Aviation by 68.6% in the second quarter. Corient Private Wealth LP now owns 34,306 shares of the company’s stock valued at $306,000 after acquiring an additional 13,955 shares in the last quarter. HighTower Advisors LLC increased its stake in shares of Joby Aviation by 3.5% during the second quarter. HighTower Advisors LLC now owns 920,410 shares of the company’s stock worth $8,210,000 after acquiring an additional 30,928 shares during the period. California State Teachers Retirement System raised its holdings in Joby Aviation by 806.6% during the second quarter. California State Teachers Retirement System now owns 2,568,987 shares of the company’s stock worth $22,915,000 after purchasing an additional 2,285,620 shares in the last quarter. Ameritas Advisory Services LLC purchased a new position in Joby Aviation during the second quarter worth about $60,000. Finally, Echo45 Advisors LLC acquired a new stake in Joby Aviation in the second quarter valued at about $140,000. Hedge funds and other institutional investors own 52.85% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on JOBY shares. Weiss Ratings raised Joby Aviation from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 14th. Susquehanna set a $18.00 price target on Joby Aviation in a research report on Thursday, August 6th. Needham & Company LLC reduced their price objective on Joby Aviation from $18.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. HC Wainwright reissued a “buy” rating on shares of Joby Aviation in a report on Thursday, August 6th. Finally, Barclays upgraded shares of Joby Aviation to a “hold” rating in a research report on Wednesday, July 29th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, Joby Aviation currently has a consensus rating of “Reduce” and an average price target of $13.81.

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.