Gregory Bowles Sells 5,158 Shares of Joby Aviation (NYSE:JOBY) Stock

Key Points

• Insider sale: Joby Aviation insider Gregory Bowles sold 5,158 shares at an average price of $8.92, totaling about $46,009. The trade was made under a pre-arranged Rule 10b5-1 plan to cover tax withholding tied to vested equity awards.
• Stock performance: Joby Aviation shares rose 5.2% to $8.94 on unusually heavy volume, well above the stock’s average trading volume. The company remains below its 50-day and 200-day moving averages.
• Analyst and business backdrop: Joby recently beat quarterly earnings and revenue expectations, but analysts remain cautious overall with a consensus rating of “Reduce” and an average target price of $13.64. Recent headlines highlight support from Toyota and Joby’s manufacturing expansion as it works toward commercialization of its eVTOL aircraft.

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) insider Gregory Bowles sold 5,158 shares of the business's stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $8.92, for a total transaction of $46,009.36. Following the sale, the insider owned 193,660 shares of the company's stock, valued at approximately $1,727,447.20. This represents a 2.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 Monday, July 6th, Gregory Bowles sold 4,724 shares of Joby Aviation stock. The shares were sold at an average price of $9.10, for a total value of $42,988.40.
• 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 value 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 value 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 Stock Up 5.2%

NYSE JOBY traded up $0.45 on Monday, reaching $8.94. The company had a trading volume of 55,744,434 shares, compared to its average volume of 30,442,541. The firm has a market capitalization of $8.79 billion, a PE ratio of -7.77 and a beta of 2.71. The firm has a 50-day moving average of $9.94 and a 200-day moving average of $10.73. Joby Aviation, Inc. has a 1 year low of $7.75 and a 1 year high of $20.95. The company has a debt-to-equity ratio of 0.36, a current ratio of 22.06 and a quick ratio of 22.05.

Joby Aviation (NYSE:JOBY - Get Free Report) last posted its earnings results on Tuesday, May 5th. The company reported ($0.12) EPS for the quarter, topping analysts' consensus estimates of ($0.21) by $0.09. The business had revenue of $24.25 million for the quarter, compared to analysts' expectations of $20.17 million. Joby Aviation had a negative net margin of 1,232.62% and a negative return on equity of 60.54%. During the same period in the previous year, the company posted ($0.11) earnings per share. On average, equities research analysts anticipate that Joby Aviation, Inc. will post -0.83 EPS for the current fiscal year.

Institutional Trading of Joby Aviation

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Fifth Third Bancorp raised its stake in Joby Aviation by 207.4% during the fourth quarter. Fifth Third Bancorp now owns 1,998 shares of the company's stock valued at $26,000 after buying an additional 1,348 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Joby Aviation by 284.8% in 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 in the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in shares of Joby Aviation in the 4th quarter valued at approximately $28,000. Strategic Advocates LLC bought a new stake in shares of Joby Aviation in the 3rd quarter valued at approximately $29,000. Finally, Pandora Wealth Inc. acquired a new stake in shares of Joby Aviation during the 4th quarter valued at approximately $32,000. 52.85% of the stock is owned by institutional investors.

Analysts Set New Price Targets

JOBY has been the subject of a number of recent analyst reports. Weiss Ratings lowered Joby Aviation from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Monday, May 4th. Morgan Stanley reduced their target price on Joby Aviation from $15.00 to $13.00 and set an "equal weight" rating for the company in a research note on Wednesday, May 6th. Needham & Company LLC restated a "buy" rating and issued a $18.00 price target on shares of Joby Aviation in a research note on Wednesday, May 6th. Wall Street Zen raised shares of Joby Aviation from a "strong sell" rating to a "sell" rating in a report on Sunday, May 10th. Finally, Canaccord Genuity Group cut their price target on shares of Joby Aviation from $15.50 to $11.50 and set a "hold" rating on the stock in a report on Thursday, May 7th. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Joby Aviation has a consensus rating of "Reduce" and an average target price of $13.64.

Trending Headlines about Joby Aviation

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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