Joby Aviation (NYSE:JOBY) Director Sells $5,008,325.32 in Stock

Joby Aviation, Inc. (NYSE:JOBY) Director Paul Cahill Sciarra sold 416,666 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $12.02, for a total value of $5,008,325.32. Following the completion of the transaction, the director directly owned 55,911,391 shares in the company, valued at $672,054,919.82. The trade was a 0.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Joby Aviation Stock Down 3.7%

Shares of JOBY opened at $11.43 on Thursday. The company has a market capitalization of $11.24 billion, a P/E ratio of -9.93 and a beta of 2.66. The company has a debt-to-equity ratio of 0.36, a current ratio of 22.06 and a quick ratio of 22.05. Joby Aviation, Inc. has a one year low of $7.49 and a one year high of $20.95. The business’s 50 day simple moving average is $9.64 and its 200-day simple moving average is $11.54.

Joby Aviation (NYSE:JOBY) last announced its earnings results on Tuesday, May 5th. The company reported ($0.12) 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 business had revenue of $24.25 million for the quarter, compared to the consensus estimate of $20.17 million. During the same period in the previous year, the business earned ($0.11) EPS. As a group, sell-side analysts predict that Joby Aviation, Inc. will post -0.83 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on the company. HC Wainwright reaffirmed a “buy” rating and set a $18.00 price objective on shares of Joby Aviation in a report on Thursday, March 12th. Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 price objective on shares of Joby Aviation in a report on Wednesday, May 6th. Weiss Ratings downgraded Joby Aviation from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, May 4th. JPMorgan Chase & Co. reduced their price objective on Joby Aviation from $8.00 to $7.00 and set an “underweight” rating on the stock in a report on Thursday, February 26th. Finally, Wall Street Zen raised Joby Aviation from a “strong sell” rating to a “sell” rating in a report on Sunday, May 10th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $13.06.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in JOBY. Lingotto Investment Management LLP raised its stake in Joby Aviation by 34.2% during the 4th quarter. Lingotto Investment Management LLP now owns 3,138,240 shares of the company’s stock worth $41,425,000 after buying an additional 799,260 shares during the period. DNB Asset Management AS raised its stake in Joby Aviation by 16.3% during the 4th quarter. DNB Asset Management AS now owns 366,281 shares of the company’s stock worth $4,835,000 after buying an additional 51,344 shares during the period. Kemnay Advisory Services Inc. acquired a new stake in Joby Aviation during the 3rd quarter worth $2,830,000. Kingsview Wealth Management LLC raised its stake in Joby Aviation by 838.2% during the 3rd quarter. Kingsview Wealth Management LLC now owns 96,759 shares of the company’s stock worth $1,562,000 after buying an additional 86,446 shares during the period. Finally, Vanguard Group Inc. raised its stake in Joby Aviation by 5.1% during the 4th quarter. Vanguard Group Inc. now owns 52,488,707 shares of the company’s stock worth $692,851,000 after buying an additional 2,540,382 shares during the period. Institutional investors and hedge funds own 52.85% of the company’s stock.

About Joby Aviation

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.