Joby Aviation (NYSE:JOBY) Insider Sells $85,409.00 in Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Kate Dehoff sold 9,575 shares of the company’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $8.92, for a total value of $85,409.00. Following the completion of the transaction, the insider owned 186,735 shares of the company’s stock, valued at $1,665,676.20. The trade was a 4.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Kate Dehoff also recently made the following trade(s):

• On Tuesday, April 14th, Kate Dehoff sold 14,295 shares of Joby Aviation stock. The shares were sold at an average price of $8.73, for a total transaction of $124,795.35.
• On Monday, April 13th, Kate Dehoff sold 8,310 shares of Joby Aviation stock. The stock was sold at an average price of $8.20, for a total transaction of $68,142.00.
• On Wednesday, April 8th, Kate Dehoff sold 667 shares of Joby Aviation stock. The shares were sold at an average price of $8.87, for a total transaction of $5,916.29.

Joby Aviation Stock Down 2.3%

Shares of JOBY stock opened at $7.93 on Thursday. The company’s fifty day simple moving average is $9.91 and its two-hundred day simple moving average is $10.65. Joby Aviation, Inc. has a 52 week low of $7.75 and a 52 week high of $20.95. The stock has a market cap of $7.81 billion, a P/E ratio of -6.90 and a beta of 2.71. The company has a quick ratio of 22.05, a current ratio of 22.06 and a debt-to-equity ratio of 0.36.

Joby Aviation (NYSE:JOBY) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.12) earnings per share 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 firm had revenue of $24.25 million during the quarter, compared to analyst estimates of $20.17 million. During the same quarter last year, the business posted ($0.11) earnings per share. Analysts predict that Joby Aviation, Inc. will post -0.83 EPS for the current fiscal year.

Hedge Funds Weigh In On Joby Aviation

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Joby Aviation by 5.1% during the 4th quarter. Vanguard Group Inc. now owns 52,488,707 shares of the company’s stock valued at $692,851,000 after purchasing an additional 2,540,382 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Joby Aviation by 3.4% during the fourth quarter. Geode Capital Management LLC now owns 11,790,532 shares of the company’s stock valued at $155,671,000 after buying an additional 390,794 shares during the period. State Street Corp grew its stake in shares of Joby Aviation by 5.0% during the fourth quarter. State Street Corp now owns 10,812,929 shares of the company’s stock valued at $142,731,000 after buying an additional 512,129 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Joby Aviation by 6.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,370,983 shares of the company’s stock valued at $57,697,000 after buying an additional 271,475 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of Joby Aviation by 41.2% in the third quarter. Bank of America Corp DE now owns 4,192,109 shares of the company’s stock worth $67,661,000 after buying an additional 1,223,412 shares during the period. 52.85% of the stock is owned by hedge funds and other institutional investors.

More Joby Aviation News

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

• Positive Sentiment: Investors are still focused on the upside if Joby can launch commercial air taxi service by 2030 or even sooner, since that would validate its eVTOL model and could open a major new revenue stream. Prediction: Can Joby Aviation Stock Soar 500% by 2030?
• Positive Sentiment: Recent coverage continues to highlight the possibility that Joby could begin commercial air taxi operations this year, which keeps speculative buying interest alive. Joby Aviation Stock: Is It More Likely to Hit $15 or $5 This Year?
• Neutral Sentiment: Toyota’s ongoing partnership work with Joby Aviation keeps a strategic industry name attached to the company, reinforcing its long-term commercialization story. Toyota Motor (TSE:7203) Extends Lexus MSG Partnership, Is It Fully Priced?
• Neutral Sentiment: Multiple insider sales were disclosed from executives including the CEO and CFO, but the filings indicate many of the transactions were related to tax withholding or routine sales tied to vesting awards. Joby Aviation (NYSE:JOBY) CFO Rodrigo Brumana Sells 2,601 Shares
• Negative Sentiment: The stock is being weighed down by concerns that Joby’s aircraft is not yet approved for commercial use, so any delay in regulatory progress could pressure the shares further. Joby Aviation stock tests $8 support zone: What’s driving the air taxi pullback?
• Negative Sentiment: Recent insider selling from several top executives may be adding to investor caution, even if the sales were largely prearranged or tax-related. Joby Aviation (NYSE:JOBY) CEO Joeben Bevirt Sells 15,788 Shares

Analyst Ratings Changes

JOBY has been the subject of a number of recent research reports. Needham & Company LLC reissued a “buy” rating and issued a $18.00 target price on shares of Joby Aviation in a report on Wednesday, May 6th. Weiss Ratings downgraded shares of Joby Aviation from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, May 4th. 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. Wall Street Zen raised Joby Aviation from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 10th. Finally, HC Wainwright restated a “buy” rating and set a $18.00 price objective on shares of Joby Aviation in a research report on Thursday, March 12th. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, Joby Aviation presently has an average rating of “Reduce” and a consensus price target of $13.64.

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.