Joby Aviation (NYSE:JOBY) Insider Gregory Bowles Sells 4,724 Shares of Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Gregory Bowles sold 4,724 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $9.10, for a total transaction of $42,988.40. Following the transaction, the insider owned 188,936 shares of the company’s stock, valued at approximately $1,719,317.60. The trade was a 2.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at 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 Thursday, July 2nd, Gregory Bowles sold 5,158 shares of Joby Aviation stock. The stock was sold at an average price of $8.92, for a total transaction of $46,009.36.
• 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 Friday, May 22nd, Gregory Bowles sold 3,486 shares of Joby Aviation stock. The shares were sold at an average price of $10.74, for a total transaction of $37,439.64.
• On Wednesday, April 8th, Gregory Bowles sold 357 shares of Joby Aviation stock. The shares were sold at an average price of $8.87, for a total transaction of $3,166.59.

Joby Aviation Stock Performance

Shares of Joby Aviation stock opened at $8.45 on Tuesday. The company has a current ratio of 22.06, a quick ratio of 22.05 and a debt-to-equity ratio of 0.36. The business has a 50-day moving average price of $9.94 and a two-hundred day moving average price of $10.73. Joby Aviation, Inc. has a 1-year low of $7.75 and a 1-year high of $20.95. The company has a market cap of $8.31 billion, a P/E ratio of -7.39 and a beta of 2.71.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.09. Joby Aviation had a negative return on equity of 60.54% and a negative net margin of 1,232.62%.The company had revenue of $24.25 million for the quarter, compared to the consensus estimate of $20.17 million. During the same period in the previous year, the business earned ($0.11) EPS. As a group, analysts anticipate that Joby Aviation, Inc. will post -0.83 EPS for the current year.

Joby Aviation News Summary

Here are the key news stories impacting Joby Aviation this week:

• Positive Sentiment: Investors are buying into the possibility that Joby could start commercial air taxi operations this year, a major milestone that would validate the business model and potentially unlock new revenue streams. Joby Aviation Stock: Is It More Likely to Hit $15 or $5 This Year?
• Positive Sentiment: Recent coverage says Joby’s air taxi expansion is fueling investor excitement, helping push sentiment higher around the company’s long-term growth potential. Why Joby Aviation Stock Popped Today
• Positive Sentiment: Another article highlighted that Joby’s valuation is getting an additional boost, suggesting traders are still focused on future commercialization rather than current losses. Why Joby Aviation Stock Is Surging Today
• Neutral Sentiment: Several insiders, including CEO Joeben Bevirt and other executives, sold shares, but the filings say the sales were mainly to cover tax withholding tied to vesting equity awards rather than a change in conviction. SEC filing
• Neutral Sentiment: More insider sales were disclosed from Didier Papadopoulos, Eric Allison, Kate Dehoff, Rodrigo Brumana, Gregory Bowles, and Bonny W. Simi, including a Rule 10b5-1 sale, but the transactions were largely routine and tax-related. SEC filing
• Negative Sentiment: The biggest risk remains that Joby’s aircraft is not approved yet, so the stock could give back gains if regulatory progress takes longer than bulls expect. Article

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Canaccord Genuity Group lowered their price objective on shares of Joby Aviation from $15.50 to $11.50 and set a “hold” rating for the company in a research note on Thursday, May 7th. HC Wainwright restated a “buy” rating and issued a $18.00 price target on shares of Joby Aviation in a report on Thursday, March 12th. Wall Street Zen raised shares of Joby Aviation from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 10th. Weiss Ratings cut shares of Joby Aviation from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, May 4th. Finally, Needham & Company LLC restated a “buy” rating and issued a $18.00 target price on shares of Joby Aviation in a research note on Wednesday, May 6th. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $13.64.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Fifth Third Bancorp grew its holdings in shares of Joby Aviation by 207.4% during the fourth quarter. Fifth Third Bancorp now owns 1,998 shares of the company’s stock valued at $26,000 after buying an additional 1,348 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Joby Aviation by 284.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,540 shares of the company’s stock valued at $27,000 after acquiring an additional 1,880 shares in the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in Joby Aviation during the 4th quarter valued at about $28,000. Strategic Advocates LLC acquired a new position in Joby Aviation during the 3rd quarter valued at about $29,000. Finally, Pandora Wealth Inc. bought a new stake in Joby Aviation during the 4th quarter worth approximately $32,000. 52.85% of the stock is owned by institutional investors.

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.