Gregory Bowles Sells 4,194 Shares of Joby Aviation (NYSE:JOBY) Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Gregory Bowles sold 4,194 shares of Joby Aviation stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $13.51, for a total value of $56,660.94. Following the transaction, the insider directly owned 166,344 shares in the company, valued at $2,247,307.44. The trade was a 2.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

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

• 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 value 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 value of $61,279.24.

Joby Aviation Trading Up 11.5%

JOBY stock traded up $1.65 during trading on Monday, hitting $16.01. The company had a trading volume of 36,750,666 shares, compared to its average volume of 29,296,010. The stock has a market cap of $14.60 billion, a PE ratio of -11.95 and a beta of 2.56. The business has a 50-day moving average of $14.64 and a 200-day moving average of $14.84. Joby Aviation, Inc. has a one year low of $4.96 and a one year high of $20.95.

Joby Aviation (NYSE:JOBY) last issued its quarterly earnings results on Wednesday, November 5th. The company reported ($0.48) earnings per share (EPS) 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 analysts’ expectations of $0.02 million. During the same quarter in the prior year, the business earned ($0.21) EPS. The business’s revenue for the quarter was up 7962.1% on a year-over-year basis. Research analysts forecast that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Institutional Trading of Joby Aviation

Several hedge funds have recently bought and sold shares of JOBY. GoalVest Advisory LLC increased its stake in Joby Aviation by 2.1% during the 4th quarter. GoalVest Advisory LLC now owns 33,500 shares of the company’s stock valued at $442,000 after purchasing an additional 700 shares in the last quarter. Allworth Financial LP lifted its stake in shares of Joby Aviation by 311.9% in the third quarter. Allworth Financial LP now owns 29,642 shares of the company’s stock valued at $478,000 after buying an additional 22,445 shares in the last quarter. IFP Advisors Inc grew its holdings in shares of Joby Aviation by 158.1% during the third quarter. IFP Advisors Inc now owns 23,309 shares of the company’s stock valued at $376,000 after buying an additional 14,279 shares during the last quarter. Strategic Advocates LLC bought a new stake in shares of Joby Aviation during the third quarter worth about $29,000. Finally, CIBC Bancorp USA Inc. bought a new stake in shares of Joby Aviation during the third quarter worth about $794,000. Institutional investors and hedge funds own 52.85% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. HC Wainwright reaffirmed a “neutral” rating on shares of Joby Aviation in a research report on Monday, November 24th. The Goldman Sachs Group began coverage on Joby Aviation in a research note on Monday, December 1st. They issued a “sell” rating and a $10.00 price objective on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Joby Aviation in a research report on Wednesday, October 8th. Zacks Research upgraded Joby Aviation from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 4th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $22.00 price target on shares of Joby Aviation in a research note on Thursday, November 6th. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $13.43.

Joby Aviation Company Profile

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.