Insider Selling: Joby Aviation (NYSE:JOBY) Insider Sells 4,604 Shares of Stock

by · The Cerbat Gem

Joby Aviation, Inc. (NYSE:JOBY – Get Free Report) insider Gregory Bowles sold 4,604 shares of the business’s stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $13.31, for a total transaction of $61,279.24. Following the completion of the sale, the insider directly owned 163,016 shares of the company’s stock, valued at $2,169,742.96. This represents a 2.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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 Friday, October 3rd, Gregory Bowles sold 4,776 shares of Joby Aviation stock. The shares were sold at an average price of $18.09, for a total transaction of $86,397.84.
  • On Thursday, October 2nd, Gregory Bowles sold 3,493 shares of Joby Aviation stock. The shares were sold at an average price of $16.78, for a total transaction of $58,612.54.
  • 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 transaction of $203,175.00.

Joby Aviation Stock Performance

NYSE:JOBY traded up $0.06 during mid-day trading on Tuesday, hitting $13.95. The stock had a trading volume of 12,315,890 shares, compared to its average volume of 27,033,973. The company’s 50 day simple moving average is $15.92 and its 200 day simple moving average is $13.57. The stock has a market cap of $12.72 billion, a price-to-earnings ratio of -10.41 and a beta of 2.52. Joby Aviation, Inc. has a twelve month low of $4.96 and a twelve month high of $20.95.

Joby Aviation (NYSE:JOBY – Get Free Report) last released its quarterly earnings results on Thursday, November 6th. 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 the consensus estimate of $0.02 million. The company’s quarterly revenue was up 7962.1% compared to the same quarter last year. During the same period last year, the firm posted ($0.21) EPS. As a group, equities analysts forecast that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Wall Street Zen downgraded Joby Aviation from a “hold” rating to a “sell” rating in a research note on Saturday, August 2nd. Zacks Research upgraded Joby Aviation from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 4th. JPMorgan Chase & Co. upped their price target on shares of Joby Aviation from $7.00 to $8.00 and gave the stock an “underweight” rating in a report on Friday, October 31st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Joby Aviation in a research report on Wednesday, October 8th. 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 two have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $14.00.

Get Our Latest Stock Analysis on JOBY

Institutional Investors Weigh In On Joby Aviation

Hedge funds and other institutional investors have recently made changes to their positions in the business. CIBC Bancorp USA Inc. bought a new stake in shares of Joby Aviation during the 3rd quarter valued at $794,000. Centaurus Financial Inc. increased its holdings in shares of Joby Aviation by 69.2% in the 3rd quarter. Centaurus Financial Inc. now owns 21,709 shares of the company’s stock worth $350,000 after buying an additional 8,882 shares during the last quarter. Sunbelt Securities Inc. lifted its stake in shares of Joby Aviation by 29,462.5% in the 3rd quarter. Sunbelt Securities Inc. now owns 11,825 shares of the company’s stock valued at $191,000 after purchasing an additional 11,785 shares during the last quarter. Advisory Services Network LLC bought a new position in Joby Aviation during the third quarter valued at $75,000. Finally, Jasper Ridge Partners L.P. bought a new position in shares of Joby Aviation during the third quarter valued at approximately $1,452,000. Hedge funds and other institutional investors own 52.85% of the company’s stock.

About Joby Aviation

(Get Free Report)

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.

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