Joby Aviation (NYSE:JOBY) Insider Gregory Bowles Sells 5,158 Shares

Joby Aviation, Inc. (NYSE:JOBY) insider Gregory Bowles sold 5,158 shares of the company’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $8.92, for a total transaction of $46,009.36. Following the completion of the sale, the insider owned 193,660 shares of the company’s stock, valued at approximately $1,727,447.20. This trade represents a 2.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 Monday, July 6th, Gregory Bowles sold 4,724 shares of Joby Aviation stock. The shares were sold at an average price of $9.10, for a total transaction of $42,988.40.
• 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 value 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 value 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 value of $3,166.59.

Joby Aviation Trading Down 5.3%

NYSE:JOBY opened at $8.45 on Tuesday. The firm has a market cap of $8.31 billion, a P/E ratio of -7.39 and a beta of 2.71. 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 stock’s 50 day simple moving average is $9.94 and its 200-day simple moving average is $10.73. Joby Aviation, Inc. has a 12-month low of $7.75 and a 12-month high of $20.95.

Joby Aviation (NYSE:JOBY) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.12) EPS for the quarter, topping the consensus estimate 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 business had revenue of $24.25 million during the quarter, compared to analysts’ expectations of $20.17 million. During the same quarter in the prior year, the business earned ($0.11) earnings per share. Equities analysts anticipate that Joby Aviation, Inc. will post -0.83 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on JOBY shares. Canaccord Genuity Group cut their price objective on Joby Aviation from $15.50 to $11.50 and set a “hold” rating for the company in a research report on Thursday, May 7th. HC Wainwright reiterated a “buy” rating and set a $18.00 price target on shares of Joby Aviation in a research report on Thursday, March 12th. Morgan Stanley reduced their price objective on Joby Aviation from $15.00 to $13.00 and set an “equal weight” rating for the company in a report on Wednesday, May 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 price target on shares of Joby Aviation in a research note on Wednesday, May 6th. Finally, Weiss Ratings downgraded shares of Joby Aviation from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, May 4th. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $13.64.

Institutional Trading of Joby Aviation

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Lingotto Investment Management LLP boosted its position in Joby Aviation by 34.2% during the fourth quarter. Lingotto Investment Management LLP now owns 3,138,240 shares of the company’s stock worth $41,425,000 after acquiring an additional 799,260 shares during the last quarter. DNB Asset Management AS lifted its stake in shares of Joby Aviation by 16.3% during the 4th quarter. DNB Asset Management AS now owns 366,281 shares of the company’s stock worth $4,835,000 after purchasing an additional 51,344 shares during the period. Kemnay Advisory Services Inc. purchased a new position in shares of Joby Aviation during the 3rd quarter worth $2,830,000. Vanguard Group Inc. boosted its holdings in shares of Joby Aviation by 5.1% during the fourth quarter. Vanguard Group Inc. now owns 52,488,707 shares of the company’s stock worth $692,851,000 after purchasing an additional 2,540,382 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Joby Aviation in the fourth quarter valued at $32,269,000. Hedge funds and other institutional investors own 52.85% of the company’s stock.

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

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.