Gregory Bowles Sells 3,402 Shares of Joby Aviation, Inc. (NYSE:JOBY) Stock

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) insider Gregory Bowles sold 3,402 shares of the company's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $6.58, for a total transaction of $22,385.16. Following the sale, the insider now directly owns 161,034 shares in the company, valued at $1,059,603.72. This represents a 2.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Monday, February 24th, Gregory Bowles sold 3,442 shares of Joby Aviation stock. The stock was sold at an average price of $6.81, for a total value of $23,440.02.

Joby Aviation Stock Performance

NYSE JOBY remained flat at $6.64 on Friday. The company had a trading volume of 7,571,382 shares, compared to its average volume of 12,016,594. Joby Aviation, Inc. has a fifty-two week low of $4.66 and a fifty-two week high of $10.72. The company has a 50 day moving average of $6.33 and a 200 day moving average of $7.16. The company has a market capitalization of $5.23 billion, a PE ratio of -9.49 and a beta of 2.34.

Joby Aviation (NYSE:JOBY - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($0.11) EPS for the quarter, beating analysts' consensus estimates of ($0.18) by $0.07. Joby Aviation had a negative return on equity of 51.76% and a negative net margin of 42,844.57%. During the same period in the previous year, the firm posted ($0.14) earnings per share. As a group, equities research analysts predict 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 made changes to their positions in the company. Intech Investment Management LLC raised its holdings in shares of Joby Aviation by 70.4% during the first quarter. Intech Investment Management LLC now owns 307,135 shares of the company's stock worth $1,849,000 after acquiring an additional 126,908 shares during the period. Integrity Alliance LLC. acquired a new stake in shares of Joby Aviation in the 1st quarter valued at approximately $124,000. PharVision Advisers LLC acquired a new position in Joby Aviation during the first quarter worth approximately $61,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Joby Aviation by 16.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 502,909 shares of the company's stock worth $3,050,000 after acquiring an additional 71,695 shares during the last quarter. Finally, AQR Capital Management LLC acquired a new stake in shares of Joby Aviation during the 1st quarter worth about $273,000. 52.85% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Cantor Fitzgerald reiterated an "overweight" rating and issued a $9.00 price objective on shares of Joby Aviation in a research report on Monday, May 5th. Morgan Stanley reissued an "equal weight" rating and set a $7.00 price target (down from $10.00) on shares of Joby Aviation in a research note on Friday, April 11th. Canaccord Genuity Group boosted their price objective on shares of Joby Aviation from $11.50 to $12.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. HC Wainwright reiterated a "buy" rating and issued a $9.00 price objective on shares of Joby Aviation in a research report on Wednesday, April 30th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $10.00 price target on shares of Joby Aviation in a report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $8.67.

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.

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