Key Points
- Insider sale: Joby Aviation insider Gregory Bowles sold 3,486 shares on May 22 at an average price of $10.74, totaling about $37,440. The sale was made under a pre-arranged Rule 10b5-1 plan to cover tax withholding tied to equity award vesting.
- Recent trading activity: Bowles also sold additional Joby shares in several other transactions this spring, including 4,602 shares on May 26 and multiple sales in March and April. After the May 22 sale, he still held 186,921 shares.
- Company snapshot and outlook: Joby Aviation recently beat quarterly EPS and revenue estimates, but analysts remain cautious overall with a consensus rating of “Reduce” and an average price target of $13.06. The stock closed at $11.54, below its 200-day moving average of $11.70.
Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) insider Gregory Bowles sold 3,486 shares of Joby Aviation stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $10.74, for a total transaction of $37,439.64. Following the completion of the transaction, the insider owned 186,921 shares of the company's stock, valued at $2,007,531.54. The trade was a 1.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 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 Wednesday, April 8th, Gregory Bowles sold 357 shares of Joby Aviation stock. The stock was sold at an average price of $8.87, for a total transaction of $3,166.59.
- On Monday, April 6th, Gregory Bowles sold 4,720 shares of Joby Aviation stock. The shares were sold at an average price of $8.76, for a total transaction of $41,347.20.
- On Wednesday, March 11th, Gregory Bowles sold 1,075 shares of Joby Aviation stock. The shares were sold at an average price of $9.90, for a total transaction of $10,642.50.
- On Tuesday, March 10th, Gregory Bowles sold 1,172 shares of Joby Aviation stock. The shares were sold at an average price of $10.25, for a total transaction of $12,013.00.
Joby Aviation Price Performance
Shares of NYSE:JOBY opened at $11.54 on Wednesday. The company has a 50 day moving average of $9.37 and a 200 day moving average of $11.70. The stock has a market cap of $11.35 billion, a P/E ratio of -10.03 and a beta of 2.61. Joby Aviation, Inc. has a 12 month low of $6.72 and a 12 month high of $20.95. The company has a current ratio of 22.06, a quick ratio of 22.05 and a debt-to-equity ratio of 0.36.
Joby Aviation (NYSE:JOBY - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.12) EPS for the quarter, topping analysts' consensus estimates of ($0.21) by $0.09. Joby Aviation had a negative net margin of 1,232.62% and a negative return on equity of 60.54%. 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 previous year, the company earned ($0.11) EPS. As a group, sell-side analysts forecast that Joby Aviation, Inc. will post -0.83 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of equities research analysts recently commented on the stock. Weiss Ratings lowered shares of Joby Aviation from a "sell (d-)" rating to a "sell (e+)" rating in a report on Monday, May 4th. Oppenheimer set a $18.00 price target on shares of Joby Aviation in a report on Thursday, February 26th. Morgan Stanley lowered their price target on shares of Joby Aviation from $15.00 to $13.00 and set an "equal weight" rating for the company in a report on Wednesday, May 6th. Canaccord Genuity Group lowered their price target on shares of Joby Aviation from $15.50 to $11.50 and set a "hold" rating for the company in a report on Thursday, May 7th. Finally, Wall Street Zen upgraded shares of Joby Aviation from a "strong sell" rating to a "sell" rating in a report on Sunday, May 10th. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Joby Aviation currently has a consensus rating of "Reduce" and an average target price of $13.06.
Get Our Latest Stock Report on Joby Aviation
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in JOBY. Royal Bank of Canada raised its holdings in Joby Aviation by 110.5% in the 1st quarter. Royal Bank of Canada now owns 85,070 shares of the company's stock worth $512,000 after purchasing an additional 44,659 shares in the last quarter. AQR Capital Management LLC purchased a new stake in shares of Joby Aviation in the 1st quarter worth about $273,000. Strs Ohio purchased a new stake in shares of Joby Aviation in the 1st quarter worth about $37,000. Cetera Investment Advisers grew its position in shares of Joby Aviation by 16.0% in the 2nd quarter. Cetera Investment Advisers now owns 64,069 shares of the company's stock worth $676,000 after buying an additional 8,840 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of Joby Aviation by 80.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 750,733 shares of the company's stock worth $7,920,000 after buying an additional 333,995 shares during the period. 52.85% of the stock is currently owned by institutional investors.
Joby Aviation Company Profile
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Get Free Report)
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.
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