Joby Aviation, Inc. (NYSE:JOBY) Insider Gregory Bowles Sells 3,410 Shares of Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Gregory Bowles sold 3,410 shares of Joby Aviation stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $4.85, for a total transaction of $16,538.50. Following the transaction, the insider now directly owns 60,940 shares in the company, valued at $295,559. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Joby Aviation Price Performance

NYSE JOBY traded up $0.03 during trading on Friday, hitting $4.84. 491,393 shares of the company’s stock traded hands, compared to its average volume of 4,814,216. Joby Aviation, Inc. has a 12-month low of $4.50 and a 12-month high of $11.98. The business has a 50 day moving average of $5.04 and a 200-day moving average of $5.66.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.03. The company had revenue of $0.03 million for the quarter, compared to the consensus estimate of $0.05 million. During the same quarter in the prior year, the company earned ($0.16) earnings per share. The company’s quarterly revenue was down 97.5% on a year-over-year basis. Research analysts predict that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Institutional Investors Weigh In On Joby Aviation

Several hedge funds and other institutional investors have recently modified their holdings of JOBY. Commonwealth Equity Services LLC grew its position in Joby Aviation by 84.1% during the third quarter. Commonwealth Equity Services LLC now owns 50,816 shares of the company’s stock valued at $328,000 after acquiring an additional 23,220 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in Joby Aviation by 37.1% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 21,246 shares of the company’s stock worth $137,000 after acquiring an additional 5,750 shares during the period. Raymond James Financial Services Advisors Inc. lifted its stake in Joby Aviation by 2.4% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 115,986 shares of the company’s stock worth $748,000 after acquiring an additional 2,771 shares during the period. Bank of New York Mellon Corp lifted its stake in Joby Aviation by 6.3% in the third quarter. Bank of New York Mellon Corp now owns 1,119,664 shares of the company’s stock worth $7,222,000 after acquiring an additional 66,803 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Joby Aviation by 19.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 40,365 shares of the company’s stock worth $260,000 after acquiring an additional 6,520 shares during the period. 45.54% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. raised shares of Joby Aviation from an “underweight” rating to a “neutral” rating and set a $5.00 price target on the stock in a report on Friday, May 3rd. One equities research analyst has rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $7.67.

Joby Aviation Company Profile

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.