Gregory Bowles Sells 7,748 Shares of Joby Aviation, Inc. (NYSE:JOBY) Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Gregory Bowles sold 7,748 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $8.08, for a total transaction of $62,603.84. Following the transaction, the insider now directly owns 29,235 shares in the company, valued at approximately $236,218.80. This represents a 20.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Wednesday, October 2nd, Gregory Bowles sold 2,911 shares of Joby Aviation stock. The shares were sold at an average price of $5.79, for a total transaction of $16,854.69.
• On Monday, September 23rd, Gregory Bowles sold 26,775 shares of Joby Aviation stock. The shares were sold at an average price of $5.14, for a total value of $137,623.50.

Joby Aviation Trading Up 1.3 %

Shares of NYSE:JOBY opened at $8.00 on Thursday. Joby Aviation, Inc. has a 1-year low of $4.50 and a 1-year high of $8.62. The stock has a market cap of $6.12 billion, a PE ratio of -11.43 and a beta of 1.97. The stock’s fifty day simple moving average is $5.71 and its two-hundred day simple moving average is $5.44.

Joby Aviation (NYSE:JOBY) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). Joby Aviation had a negative net margin of 42,844.57% and a negative return on equity of 51.76%. The firm had revenue of $0.28 million for the quarter, compared to the consensus estimate of $0.06 million. During the same period in the previous year, the business earned ($0.13) earnings per share. On average, sell-side analysts forecast that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Joby Aviation

A number of hedge funds and other institutional investors have recently modified their holdings of JOBY. Tidal Investments LLC increased its position in shares of Joby Aviation by 13.7% during the third quarter. Tidal Investments LLC now owns 29,246 shares of the company’s stock valued at $147,000 after acquiring an additional 3,522 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Joby Aviation by 7.7% during the 3rd quarter. Geode Capital Management LLC now owns 9,390,720 shares of the company’s stock valued at $47,245,000 after purchasing an additional 670,852 shares during the last quarter. Kensington Investment Counsel LLC raised its stake in shares of Joby Aviation by 12.0% during the 3rd quarter. Kensington Investment Counsel LLC now owns 34,099 shares of the company’s stock worth $172,000 after purchasing an additional 3,653 shares during the period. EP Wealth Advisors LLC boosted its holdings in shares of Joby Aviation by 15.4% in the 3rd quarter. EP Wealth Advisors LLC now owns 37,369 shares of the company’s stock worth $188,000 after buying an additional 5,000 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of Joby Aviation by 9.5% in the 3rd quarter. State Street Corp now owns 9,372,636 shares of the company’s stock worth $47,144,000 after buying an additional 812,248 shares during the last quarter. Hedge funds and other institutional investors own 45.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. HC Wainwright reaffirmed a “buy” rating and set a $9.00 price target on shares of Joby Aviation in a research note on Wednesday, October 2nd. Canaccord Genuity Group lowered their target price on Joby Aviation from $10.50 to $9.75 and set a “buy” rating on the stock in a research report on Tuesday, October 29th. JPMorgan Chase & Co. decreased their price target on shares of Joby Aviation from $6.00 to $5.00 and set a “neutral” rating for the company in a research note on Tuesday, October 29th. Needham & Company LLC started coverage on shares of Joby Aviation in a report on Tuesday, November 19th. They set a “buy” rating and a $8.00 price objective for the company. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $10.00 target price on shares of Joby Aviation in a report on Monday, September 30th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $8.35.

Joby Aviation Company Profile

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.