Joby Aviation (NYSE:JOBY) Insider Gregory Bowles Sells 4,776 Shares

Joby Aviation, Inc. (NYSE:JOBY) insider Gregory Bowles sold 4,776 shares of Joby Aviation stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $18.09, for a total transaction of $86,397.84. Following the sale, the insider directly owned 156,464 shares in the company, valued at $2,830,433.76. This trade represents a 2.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• 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 shares were sold at an average price of $15.75, for a total transaction of $203,175.00.
• On Monday, August 25th, Gregory Bowles sold 7,754 shares of Joby Aviation stock. The stock was sold at an average price of $14.80, for a total transaction of $114,759.20.
• On Friday, August 22nd, Gregory Bowles sold 3,402 shares of Joby Aviation stock. The shares were sold at an average price of $14.56, for a total value of $49,533.12.

Joby Aviation Stock Up 2.6%

NYSE JOBY opened at $18.26 on Monday. The company has a market cap of $15.63 billion, a price-to-earnings ratio of -17.06 and a beta of 2.52. Joby Aviation, Inc. has a twelve month low of $4.80 and a twelve month high of $20.95. The business’s fifty day moving average is $15.70 and its 200 day moving average is $11.02.

Joby Aviation (NYSE:JOBY) last issued its earnings results on Wednesday, August 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.06). The business had revenue of $0.02 million during the quarter, compared to analyst estimates of $0.05 million. The firm’s quarterly revenue was down 94.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.18) earnings per share. On average, research analysts anticipate that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Joby Aviation

Several large investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its holdings in Joby Aviation by 284.8% in the second quarter. EverSource Wealth Advisors LLC now owns 2,540 shares of the company’s stock valued at $27,000 after buying an additional 1,880 shares during the period. GPS Wealth Strategies Group LLC raised its position in shares of Joby Aviation by 32.0% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 3,097 shares of the company’s stock worth $33,000 after acquiring an additional 750 shares in the last quarter. Ameritas Advisory Services LLC acquired a new position in shares of Joby Aviation in the 2nd quarter valued at about $39,000. Solstein Capital LLC bought a new stake in shares of Joby Aviation during the 2nd quarter valued at about $47,000. Finally, Laurel Wealth Advisors LLC boosted its position in shares of Joby Aviation by 954.8% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 5,369 shares of the company’s stock valued at $57,000 after purchasing an additional 4,860 shares in the last quarter. 52.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Canaccord Genuity Group downgraded shares of Joby Aviation from a “buy” rating to a “hold” rating and lifted their target price for the stock from $12.00 to $17.00 in a research report on Thursday, August 7th. Cantor Fitzgerald reiterated a “neutral” rating and set a $9.00 price target on shares of Joby Aviation in a report on Monday, June 23rd. Wall Street Zen cut shares of Joby Aviation from a “hold” rating to a “sell” rating in a research note on Saturday, August 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Joby Aviation in a research report on Saturday, September 27th. Finally, HC Wainwright lowered Joby Aviation from a “buy” rating to a “neutral” rating in a research report on Thursday, August 7th. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Joby Aviation presently has an average rating of “Reduce” and a consensus target price of $10.50.

About Joby Aviation

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.