Joby Aviation, Inc. (NYSE:JOBY – Get Free Report) insider Gregory Bowles sold 4,724 shares of the company’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $9.10, for a total value of $42,988.40. Following the sale, the insider owned 188,936 shares of the company’s stock, valued at approximately $1,719,317.60. This represents a 2.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 Thursday, July 2nd, Gregory Bowles sold 5,158 shares of Joby Aviation stock. The shares were sold at an average price of $8.92, for a total transaction of $46,009.36.
- On Tuesday, May 26th, Gregory Bowles sold 4,602 shares of Joby Aviation stock. The stock was sold at an average price of $11.47, for a total transaction of $52,784.94.
- On Friday, May 22nd, Gregory Bowles sold 3,486 shares of Joby Aviation stock. The stock was sold at an average price of $10.74, for a total transaction of $37,439.64.
- On Wednesday, April 8th, Gregory Bowles sold 357 shares of Joby Aviation stock. The shares were sold at an average price of $8.87, for a total value of $3,166.59.
Joby Aviation Price Performance
JOBY stock traded up $0.45 during midday trading on Monday, reaching $8.94. 55,744,434 shares of the stock were exchanged, compared to its average volume of 30,442,541. Joby Aviation, Inc. has a 52 week low of $7.75 and a 52 week high of $20.95. The company has a fifty day moving average price of $9.94 and a 200 day moving average price of $10.73. The company has a debt-to-equity ratio of 0.36, a current ratio of 22.06 and a quick ratio of 22.05. The stock has a market capitalization of $8.79 billion, a PE ratio of -7.77 and a beta of 2.71.
Institutional Investors Weigh In On Joby Aviation
Several large investors have recently made changes to their positions in the business. Renaissance Technologies LLC lifted its holdings in Joby Aviation by 194.5% during the first quarter. Renaissance Technologies LLC now owns 4,005,200 shares of the company’s stock valued at $33,083,000 after purchasing an additional 2,645,200 shares during the last quarter. Vanguard Group Inc. increased its stake in Joby Aviation by 5.1% in the 4th quarter. Vanguard Group Inc. now owns 52,488,707 shares of the company’s stock worth $692,851,000 after acquiring an additional 2,540,382 shares during the last quarter. Man Group plc purchased a new stake in shares of Joby Aviation in the 3rd quarter valued at about $40,283,000. Norges Bank purchased a new position in shares of Joby Aviation during the fourth quarter worth about $32,269,000. Finally, Clear Street Group Inc. bought a new position in shares of Joby Aviation in the third quarter worth approximately $36,264,000. 52.85% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
JOBY has been the topic of several analyst reports. Morgan Stanley reduced their price objective on shares of Joby Aviation from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 6th. Weiss Ratings downgraded Joby Aviation from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, May 4th. HC Wainwright reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Joby Aviation in a research note on Thursday, March 12th. Canaccord Genuity Group reduced their target price on Joby Aviation from $15.50 to $11.50 and set a “hold” rating on the stock in a report on Thursday, May 7th. Finally, Needham & Company LLC restated a “buy” rating and set a $18.00 price target on shares of Joby Aviation in a report on Wednesday, May 6th. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, Joby Aviation currently has an average rating of “Reduce” and an average price target of $13.64.
Check Out Our Latest Research Report on JOBY
Joby Aviation News Summary
Here are the key news stories impacting Joby Aviation this week:
- Positive Sentiment: Investor excitement increased after reports highlighted Toyota’s support for Joby’s all-electric air taxis and the company’s progress toward vertical flight and production readiness. Toyota backs Joby’s all-electric air taxis as production aircraft prepare for vertical flight
- Positive Sentiment: Joby also announced it is expanding manufacturing capacity in California and Ohio and adding aircraft to its fleet, reinforcing the narrative that it is scaling operations ahead of commercialization. Joby Expands Manufacturing Capacity in California and Ohio, Adds New Aircraft to Its Fleet
- Positive Sentiment: Several market commentaries pointed to a strong Monday rally, saying Joby’s valuation got another lift as traders focused on expansion and air taxi growth prospects. Why Joby Aviation Stock Is Surging Today
- Neutral Sentiment: Multiple executives and insiders, including the CEO, CFO, and other senior leaders, sold shares this week, but the filings say the sales were primarily to cover tax withholding tied to vesting equity awards or made under a pre-arranged trading plan, which makes the activity less concerning than open-market selling.
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.
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