Joby Aviation, Inc. (NYSE:JOBY) Insider Gregory Bowles Sells 7,748 Shares of Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Gregory Bowles sold 7,748 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $8.08, for a total transaction of $62,603.84. Following the completion of the transaction, the insider now directly owns 29,235 shares of the company’s stock, valued at approximately $236,218.80. This trade represents a 20.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Wednesday, October 2nd, Gregory Bowles sold 2,911 shares of Joby Aviation stock. The shares were sold at an average price of $5.79, for a total transaction of $16,854.69.
• On Monday, September 23rd, Gregory Bowles sold 26,775 shares of Joby Aviation stock. The shares were sold at an average price of $5.14, for a total transaction of $137,623.50.

Joby Aviation Stock Performance

Shares of NYSE JOBY opened at $7.91 on Wednesday. Joby Aviation, Inc. has a 1 year low of $4.50 and a 1 year high of $8.43. The firm’s 50 day moving average price is $5.65 and its 200 day moving average price is $5.42.

Joby Aviation (NYSE:JOBY) last announced its earnings results on Wednesday, November 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). Joby Aviation had a negative return on equity of 51.76% and a negative net margin of 42,844.57%. The firm had revenue of $0.28 million for the quarter, compared to analyst estimates of $0.06 million. During the same quarter last year, the business posted ($0.13) EPS. On average, equities research analysts forecast that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on JOBY shares. Canaccord Genuity Group dropped their target price on shares of Joby Aviation from $10.50 to $9.75 and set a “buy” rating for the company in a report on Tuesday, October 29th. HC Wainwright reiterated a “buy” rating and issued a $9.00 price target on shares of Joby Aviation in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. lowered their price target on shares of Joby Aviation from $6.00 to $5.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 29th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $10.00 price target on shares of Joby Aviation in a research report on Monday, September 30th. Finally, Needham & Company LLC began coverage on shares of Joby Aviation in a research report on Tuesday, November 19th. They issued a “buy” rating and a $8.00 price target on the stock. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Joby Aviation currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.35.

Hedge Funds Weigh In On Joby Aviation

A number of hedge funds have recently made changes to their positions in the stock. Tidal Investments LLC lifted its position in Joby Aviation by 13.7% during the 3rd quarter. Tidal Investments LLC now owns 29,246 shares of the company’s stock worth $147,000 after acquiring an additional 3,522 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Joby Aviation by 7.7% in the 3rd quarter. Geode Capital Management LLC now owns 9,390,720 shares of the company’s stock worth $47,245,000 after acquiring an additional 670,852 shares in the last quarter. Kensington Investment Counsel LLC grew its position in shares of Joby Aviation by 12.0% in the 3rd quarter. Kensington Investment Counsel LLC now owns 34,099 shares of the company’s stock worth $172,000 after acquiring an additional 3,653 shares in the last quarter. EP Wealth Advisors LLC boosted its holdings in shares of Joby Aviation by 15.4% during the third quarter. EP Wealth Advisors LLC now owns 37,369 shares of the company’s stock valued at $188,000 after acquiring an additional 5,000 shares during the period. Finally, State Street Corp raised its holdings in shares of Joby Aviation by 9.5% during the third quarter. State Street Corp now owns 9,372,636 shares of the company’s stock valued at $47,144,000 after buying an additional 812,248 shares during the last quarter. Institutional investors and hedge funds own 45.54% of the company’s stock.

About Joby Aviation

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.