Gregory Bowles Sells 3,493 Shares of Joby Aviation (NYSE:JOBY) Stock

Key Points

• Insider Gregory Bowles sold 3,493 shares of Joby Aviation stock at an average price of $16.78, totaling approximately $58,612.54, reducing his stake by 2.12%.
• Joby Aviation's latest earnings report indicated a loss of ($0.24) EPS, missing estimates and showing a 94.6% decline in revenue year-over-year.
• Analysts have mixed views on Joby Aviation, with ratings ranging from a buy to a sell, and an average target price of $10.50.

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) insider Gregory Bowles sold 3,493 shares of the company's stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $16.78, for a total transaction of $58,612.54. Following the sale, the insider directly owned 161,240 shares in the company, valued at approximately $2,705,607.20. The trade was a 2.12% decrease in their position. The transaction 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 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 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.
• 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 stock was sold at an average price of $14.56, for a total transaction of $49,533.12.

Joby Aviation Trading Up 2.6%

Shares of NYSE JOBY traded up $0.46 during mid-day trading on Friday, reaching $18.26. The company had a trading volume of 35,832,315 shares, compared to its average volume of 41,566,616. The business's 50-day moving average is $15.70 and its 200-day moving average is $10.95. Joby Aviation, Inc. has a 52 week low of $4.80 and a 52 week high of $20.95.

Joby Aviation (NYSE:JOBY - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.06). The business had revenue of $0.02 million for the quarter, compared to the consensus estimate of $0.05 million. During the same quarter last year, the firm posted ($0.18) EPS. Joby Aviation's quarterly revenue was down 94.6% compared to the same quarter last year. Equities research analysts forecast that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on JOBY shares. Canaccord Genuity Group lowered shares of Joby Aviation from a "buy" rating to a "hold" rating and increased their price target for the company from $12.00 to $17.00 in a research report on Thursday, August 7th. Wall Street Zen lowered shares of Joby Aviation from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Joby Aviation in a research report on Saturday, September 27th. Cantor Fitzgerald reissued a "neutral" rating and set a $9.00 target price on shares of Joby Aviation in a research report on Monday, June 23rd. Finally, JPMorgan Chase & Co. boosted their target price on shares of Joby Aviation from $5.00 to $7.00 and gave the stock an "underweight" rating in a research report on Friday, August 1st. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Joby Aviation currently has an average rating of "Reduce" and a consensus target price of $10.50.

Institutional Investors Weigh In On Joby Aviation

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC raised its holdings in shares of Joby Aviation by 284.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,540 shares of the company's stock worth $27,000 after acquiring an additional 1,880 shares during the period. GPS Wealth Strategies Group LLC raised its holdings in Joby Aviation by 32.0% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 3,097 shares of the company's stock valued at $33,000 after buying an additional 750 shares during the period. GAMMA Investing LLC raised its holdings in Joby Aviation by 773.9% in the 1st quarter. GAMMA Investing LLC now owns 5,663 shares of the company's stock valued at $34,000 after buying an additional 5,015 shares during the period. Strs Ohio acquired a new position in Joby Aviation in the 1st quarter valued at about $37,000. Finally, Ameritas Advisory Services LLC acquired a new position in Joby Aviation in the 2nd quarter valued at about $39,000. Institutional investors and hedge funds own 52.85% of the company's stock.

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.

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