Insider Selling: Joby Aviation (NYSE:JOBY) Insider Sells 4,602 Shares of Stock

Key Points

• Insider selling: Joby Aviation insider Gregory Bowles sold 4,602 shares at an average price of $11.47, worth about $52,785. The sale was made under a pre-arranged Rule 10b5-1 plan to cover tax withholding tied to vested equity awards.
• Recent trading activity: Joby stock rose 5.7% to $11.54 on unusually heavy volume, well above its average trading level. The shares have traded between a 52-week low of $6.72 and high of $20.95.
• Company and analyst outlook: Joby beat quarterly earnings and revenue expectations, but still posted a loss and remains unprofitable. Analysts currently have a mixed view, with a consensus rating of “Reduce” and an average price target of $13.06.

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) insider Gregory Bowles sold 4,602 shares of the firm's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $11.47, for a total value of $52,784.94. Following the sale, the insider directly owned 182,319 shares of the company's stock, valued at approximately $2,091,198.93. This trade represents a 2.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 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 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 stock was sold at an average price of $8.87, for a total value of $3,166.59.
• On Monday, April 6th, Gregory Bowles sold 4,720 shares of Joby Aviation stock. The stock was sold at an average price of $8.76, for a total value of $41,347.20.
• On Wednesday, March 11th, Gregory Bowles sold 1,075 shares of Joby Aviation stock. The stock was sold at an average price of $9.90, for a total value of $10,642.50.
• On Tuesday, March 10th, Gregory Bowles sold 1,172 shares of Joby Aviation stock. The stock was sold at an average price of $10.25, for a total value of $12,013.00.

Joby Aviation Trading Up 5.7%

JOBY stock traded up $0.62 during midday trading on Tuesday, hitting $11.54. 48,574,295 shares of the company's stock were exchanged, compared to its average volume of 27,856,816. The business has a 50-day simple moving average of $9.37 and a two-hundred day simple moving average of $11.70. The company has a current ratio of 22.06, a quick ratio of 22.05 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $11.35 billion, a PE ratio of -10.03 and a beta of 2.61. Joby Aviation, Inc. has a 1-year low of $6.72 and a 1-year high of $20.95.

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

Institutional Investors Weigh In On Joby Aviation

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Joby Aviation by 5.1% in the fourth quarter. Vanguard Group Inc. now owns 52,488,707 shares of the company's stock valued at $692,851,000 after buying an additional 2,540,382 shares in the last quarter. Geode Capital Management LLC grew its stake in Joby Aviation by 3.4% during the 4th quarter. Geode Capital Management LLC now owns 11,790,532 shares of the company's stock worth $155,671,000 after purchasing an additional 390,794 shares in the last quarter. State Street Corp grew its stake in Joby Aviation by 5.0% during the 4th quarter. State Street Corp now owns 10,812,929 shares of the company's stock worth $142,731,000 after purchasing an additional 512,129 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Joby Aviation by 6.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,370,983 shares of the company's stock worth $57,697,000 after purchasing an additional 271,475 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in Joby Aviation by 41.2% during the 3rd quarter. Bank of America Corp DE now owns 4,192,109 shares of the company's stock worth $67,661,000 after purchasing an additional 1,223,412 shares in the last quarter. 52.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Wall Street Zen raised Joby Aviation from a "strong sell" rating to a "sell" rating in a research note on Sunday, May 10th. Needham & Company LLC reaffirmed a "buy" rating and issued a $18.00 price objective on shares of Joby Aviation in a research note on Wednesday, May 6th. Oppenheimer set a $18.00 price objective on Joby Aviation in a research note on Thursday, February 26th. JPMorgan Chase & Co. dropped their price objective on Joby Aviation from $8.00 to $7.00 and set an "underweight" rating for the company in a research note on Thursday, February 26th. Finally, Canaccord Genuity Group dropped their price objective on Joby Aviation from $15.50 to $11.50 and set a "hold" rating for the company in a research note on Thursday, May 7th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Joby Aviation presently has a consensus rating of "Reduce" and an average price target of $13.06.

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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