Joby Aviation (NYSE:JOBY) Insider Gregory Bowles Sells 12,900 Shares of Stock

Key Points

• Gregory Bowles, an insider at Joby Aviation, sold 12,900 shares of stock for a total of $203,175, resulting in a 7.76% decrease in his position.
• The company's shares have seen a decline of 4.3%, trading at $16.00, with a market capitalization of $13.69 billion.
• Joby Aviation recently reported a quarterly earnings loss of ($0.24) EPS, missing analysts' expectations and marking a 94.6% drop in revenue compared to the same quarter last year.

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) insider Gregory Bowles sold 12,900 shares of the firm's stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $15.75, for a total transaction of $203,175.00. Following the completion of the transaction, the insider directly owned 153,280 shares in the company, valued at $2,414,160. This represents a 7.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• 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 shares were sold at an average price of $14.56, for a total transaction of $49,533.12.
• On Thursday, July 3rd, Gregory Bowles sold 7,961 shares of Joby Aviation stock. The shares were sold at an average price of $10.28, for a total value of $81,839.08.
• On Wednesday, July 2nd, Gregory Bowles sold 3,494 shares of Joby Aviation stock. The shares were sold at an average price of $9.82, for a total value of $34,311.08.

Joby Aviation Trading Down 4.3%

Shares of JOBY traded down $0.72 during midday trading on Wednesday, reaching $16.00. 43,409,533 shares of the stock were exchanged, compared to its average volume of 23,445,504. Joby Aviation, Inc. has a 52 week low of $4.78 and a 52 week high of $20.95. The company's 50 day moving average is $15.81 and its two-hundred day moving average is $10.45. The company has a market capitalization of $13.69 billion, a P/E ratio of -14.95 and a beta of 2.50.

Joby Aviation (NYSE:JOBY - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.18) by ($0.06). Joby Aviation had a negative return on equity of 71.29% and a negative net margin of 447,083.78%.The firm had revenue of $0.02 million for the quarter, compared to the consensus estimate of $0.05 million. During the same period in the previous year, the company posted ($0.18) EPS. Joby Aviation's quarterly revenue was down 94.6% compared to the same quarter last year. On average, sell-side analysts expect that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Wall Street Zen downgraded Joby Aviation from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. HC Wainwright cut Joby Aviation from a "buy" rating to a "neutral" rating in a research note on Thursday, August 7th. JPMorgan Chase & Co. upped their price objective on Joby Aviation from $5.00 to $7.00 and gave the stock an "underweight" rating in a research note on Friday, August 1st. Canaccord Genuity Group cut Joby Aviation from a "buy" rating to a "hold" rating and upped their price objective for the stock from $12.00 to $17.00 in a research note on Thursday, August 7th. Finally, Cantor Fitzgerald restated a "neutral" rating and set a $9.00 price objective on shares of Joby Aviation in a research note on Monday, June 23rd. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $10.50.

Institutional Investors Weigh In On Joby Aviation

A number of institutional investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its position 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 in the last quarter. GPS Wealth Strategies Group LLC lifted its holdings in shares of 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 purchasing an additional 750 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of 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 purchasing an additional 5,015 shares during the last quarter. Strs Ohio purchased a new stake in shares of Joby Aviation in the 1st quarter valued at about $37,000. Finally, Ameritas Advisory Services LLC purchased a new stake in shares of Joby Aviation in the 2nd quarter valued at about $39,000. 52.85% of the stock is owned by institutional investors and hedge funds.

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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