Joby Aviation (NYSE:JOBY) CFO Sells $886,925.70 in Stock

Joby Aviation, Inc. (NYSE:JOBY) CFO Rodrigo Brumana sold 78,489 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $11.30, for a total transaction of $886,925.70. Following the transaction, the chief financial officer directly owned 81,694 shares of the company’s stock, valued at $923,142.20. This trade represents a 49.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Rodrigo Brumana also recently made the following trade(s):

• On Wednesday, April 8th, Rodrigo Brumana sold 566 shares of Joby Aviation stock. The stock was sold at an average price of $8.87, for a total transaction of $5,020.42.
• On Tuesday, March 10th, Rodrigo Brumana sold 1,159 shares of Joby Aviation stock. The stock was sold at an average price of $10.25, for a total transaction of $11,879.75.

Joby Aviation Trading Up 1.5%

JOBY stock traded up $0.14 on Monday, hitting $9.69. 21,847,400 shares of the company were exchanged, compared to its average volume of 28,024,793. Joby Aviation, Inc. has a twelve month low of $7.75 and a twelve month high of $20.95. The company has a debt-to-equity ratio of 0.36, a current ratio of 22.06 and a quick ratio of 22.05. The business’s fifty day moving average is $9.69 and its two-hundred day moving average is $11.49. The stock has a market capitalization of $9.53 billion, a price-to-earnings ratio of -8.43 and a beta of 2.66.

Joby Aviation (NYSE:JOBY) last issued its quarterly 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 net margin of 1,232.62% and a negative return on equity of 60.54%. The firm had revenue of $24.25 million during the quarter, compared to analyst estimates of $20.17 million. During the same quarter in the prior year, the business posted ($0.11) earnings per share. As a group, research analysts forecast that Joby Aviation, Inc. will post -0.83 earnings per share for the current year.

Institutional Investors Weigh In On Joby Aviation

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Joby Aviation by 13.2% during the 3rd quarter. Vanguard Group Inc. now owns 49,948,325 shares of the company’s stock valued at $806,166,000 after acquiring an additional 5,828,189 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Joby Aviation by 194.5% during the 1st quarter. Renaissance Technologies LLC now owns 4,005,200 shares of the company’s stock valued at $33,083,000 after acquiring an additional 2,645,200 shares during the last quarter. Man Group plc bought a new position in Joby Aviation during the 3rd quarter valued at $40,283,000. Norges Bank bought a new position in Joby Aviation during the 4th quarter valued at $32,269,000. Finally, Clear Street Group Inc. bought a new position in Joby Aviation during the 3rd quarter valued at $36,264,000. 52.85% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on JOBY. Weiss Ratings lowered shares of Joby Aviation from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, May 4th. Oppenheimer set a $18.00 price objective on shares of Joby Aviation in a research report on Thursday, February 26th. Morgan Stanley dropped their price objective on shares of 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. JPMorgan Chase & Co. dropped their price objective on shares of Joby Aviation from $8.00 to $7.00 and set an “underweight” rating for the company in a research report on Thursday, February 26th. Finally, Canaccord Genuity Group dropped their price objective on shares of Joby Aviation from $15.50 to $11.50 and set a “hold” rating for the company in a research report on Thursday, May 7th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Joby Aviation has an average rating of “Reduce” and an average target price of $13.06.

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.