Joby Aviation (NYSE:JOBY) Insider Eric Allison Sells 27,932 Shares

Joby Aviation, Inc. (NYSE:JOBY) insider Eric Allison sold 27,932 shares of Joby Aviation stock in a transaction on Monday, July 13th. The stock was sold at an average price of $7.53, for a total value of $210,327.96. Following the completion of the transaction, the insider owned 710,396 shares in the company, valued at $5,349,281.88. The trade was a 3.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Eric Allison also recently made the following trade(s):

• On Thursday, July 2nd, Eric Allison sold 9,330 shares of Joby Aviation stock. The shares were sold at an average price of $8.92, for a total value of $83,223.60.
• On Wednesday, May 6th, Eric Allison sold 74,844 shares of Joby Aviation stock. The shares were sold at an average price of $10.00, for a total value of $748,440.00.

Joby Aviation Trading Up 5.5%

NYSE:JOBY opened at $7.89 on Wednesday. The stock has a fifty day simple moving average of $9.82 and a 200 day simple moving average of $10.46. The firm has a market capitalization of $7.77 billion, a price-to-earnings ratio of -6.87 and a beta of 2.71. Joby Aviation, Inc. has a 1-year low of $7.43 and a 1-year high of $20.95. 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 posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.12) earnings per share (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 firm had revenue of $24.25 million for the quarter, compared to the consensus estimate of $20.17 million. During the same quarter in the previous year, the company earned ($0.11) EPS. Sell-side analysts forecast that Joby Aviation, Inc. will post -0.83 earnings per share for the current year.

Key Headlines Impacting Joby Aviation

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

• Positive Sentiment: Joby said its eVTOL aircraft passed an adverse-weather test and successfully simulated a propeller failure, reinforcing confidence in the safety and reliability of its air taxi platform. Joby’s eVTOL passes adverse weather test, simulates propeller failure
• Positive Sentiment: The company also highlighted testing that suggests its air taxi could complete a JFK-to-Manhattan trip in about seven minutes, a headline-grabbing milestone that underscores the potential speed advantage of Joby’s service model. Joby’s air taxi aces test, promises 7-minute JFK to Manhattan flights
• Neutral Sentiment: A market commentary piece argued that Joby is making visible progress, but investors still have to balance that progress against a long and expensive path to commercialization. JOBY Stock: Flying High or Overpriced Sci-Fi?
• Negative Sentiment: Insider selling by Eric Allison and Kate Dehoff may weigh on sentiment, even though the transactions were linked to tax withholding from equity vesting and, in one case, a pre-arranged trading plan. The sales reduced their ownership stakes and can still be viewed as a mild overhang for the stock.

Analyst Ratings Changes

JOBY has been the subject of a number of recent analyst reports. Weiss Ratings lowered shares of Joby Aviation from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 4th. Canaccord Genuity Group cut their target price on shares of Joby Aviation from $15.50 to $11.50 and set a “hold” rating on the stock in a research note on Thursday, May 7th. Needham & Company LLC restated a “buy” rating and issued a $18.00 target price on shares of Joby Aviation in a report on Wednesday, May 6th. Morgan Stanley decreased their target price on Joby Aviation from $15.00 to $13.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 6th. Finally, Wall Street Zen upgraded Joby Aviation from a “strong sell” rating to a “sell” rating in a report on Sunday, May 10th. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $13.64.

Institutional Investors Weigh In On Joby Aviation

Several institutional investors and hedge funds have recently modified their holdings of JOBY. Fifth Third Bancorp increased its position in Joby Aviation by 207.4% during the fourth quarter. Fifth Third Bancorp now owns 1,998 shares of the company’s stock worth $26,000 after buying an additional 1,348 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Joby Aviation by 284.8% in the second quarter. EverSource Wealth Advisors LLC now owns 2,540 shares of the company’s stock worth $27,000 after buying an additional 1,880 shares during the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in shares of Joby Aviation during the 4th quarter worth about $28,000. Strategic Advocates LLC bought a new stake in shares of Joby Aviation during the 3rd quarter worth about $29,000. Finally, Pandora Wealth Inc. acquired a new position in shares of Joby Aviation during the 4th quarter valued at about $32,000. Institutional investors and hedge funds own 52.85% of the company’s stock.

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.