Insider Selling: Joby Aviation, Inc. (NYSE:JOBY) Insider Sells $62,603.84 in Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Gregory Bowles sold 7,748 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $8.08, for a total value of $62,603.84. Following the sale, the insider now owns 29,235 shares in the company, valued at $236,218.80. The trade was a 20.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available 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 stock was sold at an average price of $5.14, for a total transaction of $137,623.50.

Joby Aviation Stock Up 1.3 %

Joby Aviation stock opened at $8.00 on Friday. Joby Aviation, Inc. has a fifty-two week low of $4.50 and a fifty-two week high of $8.62. The company has a 50 day moving average price of $5.77 and a 200-day moving average price of $5.45.

Joby Aviation (NYSE:JOBY) last issued its earnings results on Wednesday, November 6th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). Joby Aviation had a negative net margin of 42,844.57% and a negative return on equity of 51.76%. The firm had revenue of $0.28 million for the quarter, compared to the consensus estimate of $0.06 million. During the same period last year, the firm earned ($0.13) earnings per share. As a group, analysts predict that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Institutional Trading of Joby Aviation

Hedge funds have recently added to or reduced their stakes in the business. Larson Financial Group LLC increased its position in Joby Aviation by 218.3% during the 3rd quarter. Larson Financial Group LLC now owns 7,290 shares of the company’s stock valued at $37,000 after purchasing an additional 5,000 shares during the period. Nisa Investment Advisors LLC increased its holdings in Joby Aviation by 216.3% during the second quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company’s stock valued at $44,000 after buying an additional 5,840 shares during the period. Empowered Funds LLC bought a new position in Joby Aviation in the third quarter worth approximately $51,000. Sound Income Strategies LLC lifted its holdings in Joby Aviation by 3,311.3% during the third quarter. Sound Income Strategies LLC now owns 10,302 shares of the company’s stock worth $52,000 after buying an additional 10,000 shares during the period. Finally, Integris Wealth Management LLC bought a new stake in Joby Aviation during the 2nd quarter valued at $54,000. 45.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

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.