Joby Aviation (NYSE:JOBY) Insider Gregory Bowles Sells 7,754 Shares

Key Points

• Gregory Bowles, an insider at Joby Aviation, sold 7,754 shares at an average price of $14.80, resulting in a total transaction value of $114,759.20, which reduced his holdings by 4.82% to 153,280 shares.
• Joby Aviation stock experienced a 4.5% decline in value, falling to $14.28 during trading hours, and has shown considerable volatility with a 12-month low of $4.70 and a high of $20.95.
• The company reported a disappointing earnings result with an EPS of (0.24), missing analyst estimates, and showing a 94.6% decline in revenue compared to the same quarter last year.

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) insider Gregory Bowles sold 7,754 shares of the firm's stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $14.80, for a total value of $114,759.20. Following the completion of the transaction, the insider owned 153,280 shares in the company, valued at $2,268,544. This represents a 4.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• 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 value 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 Stock Down 4.5%

Shares of JOBY stock traded down $0.67 during trading hours on Monday, reaching $14.28. The company had a trading volume of 21,638,937 shares, compared to its average volume of 32,557,114. The business has a fifty day simple moving average of $14.15 and a 200-day simple moving average of $9.39. Joby Aviation, Inc. has a 12 month low of $4.70 and a 12 month high of $20.95.

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

Institutional Trading of Joby Aviation

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Marex Group plc bought a new stake in shares of Joby Aviation during the 2nd quarter valued at $549,000. Ashford Capital Management Inc. bought a new stake in shares of Joby Aviation during the 2nd quarter valued at $211,000. Headlands Technologies LLC bought a new stake in shares of Joby Aviation during the 2nd quarter valued at $1,333,000. Tower Research Capital LLC TRC raised its stake in shares of Joby Aviation by 262.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 76,545 shares of the company's stock valued at $808,000 after purchasing an additional 55,411 shares during the period. Finally, Vident Advisory LLC purchased a new position in Joby Aviation during the second quarter worth about $125,000. 52.85% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented 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. Canaccord Genuity Group downgraded 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. JPMorgan Chase & Co. increased their price target on Joby Aviation from $5.00 to $7.00 and gave the company an "underweight" rating in a research report on Friday, August 1st. HC Wainwright downgraded Joby Aviation from a "buy" rating to a "neutral" rating in a research report on Thursday, August 7th. Finally, Cantor Fitzgerald reissued a "neutral" rating and issued a $9.00 target price on shares of Joby Aviation in a research report on Monday, June 23rd. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Joby Aviation presently has an average rating of "Hold" and an average price target of $10.50.

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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