Joby Aviation (NYSE:JOBY) Insider Gregory Bowles Sells 3,486 Shares

Key Points

• Insider sale: Joby Aviation insider Gregory Bowles sold 3,486 shares on May 22 at an average price of $10.74, totaling about $37,440. The sale was made under a pre-arranged 10b5-1 plan to cover tax withholding from vested equity awards.
• Recent trading activity: Bowles has also sold additional Joby shares in multiple recent transactions, including a larger sale of 4,602 shares on May 26. These trades reduced his position modestly, though he still holds 186,921 shares.
• Stock and analyst outlook: JOBY shares rose to $11.54 in Tuesday trading, while analysts remain cautious overall with a consensus rating of Reduce and an average price target of $13.06. The company beat quarterly EPS and revenue estimates in its latest earnings report, but it remains unprofitable.

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) insider Gregory Bowles sold 3,486 shares of the firm's stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $10.74, for a total transaction of $37,439.64. Following the completion of the transaction, the insider directly owned 186,921 shares in the company, valued at approximately $2,007,531.54. The trade was a 1.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 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 transaction of $52,784.94.
• 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 transaction 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 transaction 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 transaction 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 transaction of $12,013.00.

Joby Aviation Stock Performance

Shares of JOBY traded up $0.62 on Tuesday, reaching $11.54. The company's stock had a trading volume of 48,574,295 shares, compared to its average volume of 27,856,816. The company has a debt-to-equity ratio of 0.36, a current ratio of 22.06 and a quick ratio of 22.05. The stock has a market capitalization of $11.35 billion, a P/E ratio of -10.03 and a beta of 2.61. The stock's 50 day simple moving average is $9.37 and its two-hundred day simple moving average is $11.70. Joby Aviation, Inc. has a 12-month low of $6.72 and a 12-month high of $20.95.

Joby Aviation (NYSE:JOBY - Get Free Report) last released 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. Joby Aviation had a negative net margin of 1,232.62% and a negative return on equity of 60.54%. The company had revenue of $24.25 million for the quarter, compared to analysts' expectations of $20.17 million. During the same quarter last year, the business earned ($0.11) EPS. Research analysts forecast that Joby Aviation, Inc. will post -0.83 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Joby Aviation

A number of institutional investors have recently added to or reduced their stakes in JOBY. Vanguard Group Inc. grew its holdings in Joby Aviation by 13.2% during the 3rd quarter. Vanguard Group Inc. now owns 49,948,325 shares of the company's stock valued at $806,166,000 after buying an additional 5,828,189 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Joby Aviation by 194.5% during the 1st quarter. Renaissance Technologies LLC now owns 4,005,200 shares of the company's stock valued at $33,083,000 after buying an additional 2,645,200 shares in the last quarter. Man Group plc purchased a new stake in Joby Aviation during the 3rd quarter valued at approximately $40,283,000. Norges Bank purchased a new stake in Joby Aviation during the 4th quarter valued at approximately $32,269,000. Finally, Clear Street Group Inc. purchased a new stake in Joby Aviation during the 3rd quarter valued at approximately $36,264,000. 52.85% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

JOBY has been the topic of a number of recent analyst reports. Canaccord Genuity Group decreased their target price on shares of Joby Aviation from $15.50 to $11.50 and set a "hold" rating on the stock in a research note on Thursday, May 7th. Weiss Ratings cut shares of Joby Aviation from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Monday, May 4th. Wall Street Zen upgraded shares of Joby Aviation from a "strong sell" rating to a "sell" rating in a research note on Sunday, May 10th. Needham & Company LLC restated a "buy" rating and set a $18.00 target price on shares of Joby Aviation in a research note on Wednesday, May 6th. Finally, Morgan Stanley decreased their target price on shares of Joby Aviation from $15.00 to $13.00 and set an "equal weight" rating on the stock in a research note on Wednesday, May 6th. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Joby Aviation currently has a consensus rating of "Reduce" and a consensus price target of $13.06.

Joby Aviation Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.