Joby Aviation (NYSE:JOBY) Insider Sells $49,533.12 in Stock

Key Points

• Gregory Bowles, an insider at Joby Aviation, sold 3,402 shares for a total of $49,533.12, reducing his stake by 2.07% to 161,034 shares.
• Joby Aviation's stock has been trading down 4.5% to $14.28, with significant trading volume compared to its average.
• The company's quarterly earnings report revealed a loss of ($0.24) EPS, missing the estimate by $0.06, with revenue down 94.6% year-over-year.

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) insider Gregory Bowles sold 3,402 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $14.56, for a total value of $49,533.12. Following the completion of the sale, the insider directly owned 161,034 shares of the company's stock, valued at approximately $2,344,655.04. The trade was a 2.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• On Monday, August 25th, Gregory Bowles sold 7,754 shares of Joby Aviation stock. The shares were sold at an average price of $14.80, for a total value of $114,759.20.
• 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 4.5%

Joby Aviation stock traded down $0.67 during mid-day trading on Monday, hitting $14.28. 21,638,937 shares of the company's stock traded hands, compared to its average volume of 32,557,114. The firm has a 50 day simple moving average of $14.15 and a two-hundred day simple moving average of $9.39. Joby Aviation, Inc. has a fifty-two week low of $4.70 and a fifty-two week high of $20.95.

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

Institutional Trading of Joby Aviation

Hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its stake in shares of Joby Aviation by 284.8% during the second quarter. EverSource Wealth Advisors LLC now owns 2,540 shares of the company's stock valued at $27,000 after purchasing an additional 1,880 shares in the last quarter. GPS Wealth Strategies Group LLC boosted its stake in shares of Joby Aviation by 32.0% during the second 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 in the last quarter. GAMMA Investing LLC boosted its stake in shares of Joby Aviation by 773.9% during the first 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 in the last quarter. Strs Ohio acquired a new stake in shares of Joby Aviation during the first quarter valued at about $37,000. Finally, Ameritas Advisory Services LLC acquired a new stake in shares of Joby Aviation during the second quarter valued at about $39,000. 52.85% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on JOBY shares. JPMorgan Chase & Co. increased their price objective on Joby Aviation from $5.00 to $7.00 and gave the stock an "underweight" rating in a research report on Friday, August 1st. Canaccord Genuity Group cut Joby Aviation from a "buy" rating to a "hold" rating and increased their price objective for the stock from $12.00 to $17.00 in a research report on Thursday, August 7th. Wall Street Zen cut 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 report on Thursday, August 7th. Finally, Cantor Fitzgerald reiterated a "neutral" rating and set a $9.00 price objective on shares of Joby Aviation in a research report on Monday, June 23rd. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Joby Aviation 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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