Joby Aviation (NYSE:JOBY) CFO Rodrigo Brumana Sells 2,601 Shares

Joby Aviation, Inc. (NYSE:JOBY) CFO Rodrigo Brumana sold 2,601 shares of the stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $8.92, for a total transaction of $23,200.92. Following the transaction, the chief financial officer directly owned 84,139 shares in the company, valued at approximately $750,519.88. This represents a 3.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Thursday, June 4th, Rodrigo Brumana sold 78,489 shares of Joby Aviation stock. The shares were sold at an average price of $11.30, for a total value of $886,925.70.
• 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.

Joby Aviation Trading Down 7.0%

NYSE:JOBY traded down $0.62 during midday trading on Tuesday, reaching $8.30. 2,624,360 shares of the stock traded hands, compared to its average volume of 30,207,402. The stock has a market capitalization of $8.16 billion, a P/E ratio of -7.23 and a beta of 2.71. The company has a debt-to-equity ratio of 0.36, a quick ratio of 22.05 and a current ratio of 22.06. The company has a fifty day moving average of $9.94 and a 200 day moving average of $10.73. Joby Aviation, Inc. has a 12 month low of $7.75 and a 12 month high of $20.95.

Joby Aviation (NYSE:JOBY) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.09. The firm had revenue of $24.25 million for the quarter, compared to analysts’ expectations of $20.17 million. Joby Aviation had a negative net margin of 1,232.62% and a negative return on equity of 60.54%. During the same quarter in the previous year, the company earned ($0.11) earnings per share. On average, research analysts predict that Joby Aviation, Inc. will post -0.83 EPS for the current year.

Analysts Set New Price Targets

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

More Joby Aviation News

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

• Positive Sentiment: Investors are buying into the possibility that Joby could start commercial air taxi operations this year, a major milestone that would validate the business model and potentially unlock new revenue streams. Joby Aviation Stock: Is It More Likely to Hit $15 or $5 This Year?
• Positive Sentiment: Recent coverage says Joby’s air taxi expansion is fueling investor excitement, helping push sentiment higher around the company’s long-term growth potential. Why Joby Aviation Stock Popped Today
• Positive Sentiment: Another article highlighted that Joby’s valuation is getting an additional boost, suggesting traders are still focused on future commercialization rather than current losses. Why Joby Aviation Stock Is Surging Today
• Neutral Sentiment: Several insiders, including CEO Joeben Bevirt and other executives, sold shares, but the filings say the sales were mainly to cover tax withholding tied to vesting equity awards rather than a change in conviction. SEC filing
• Neutral Sentiment: More insider sales were disclosed from Didier Papadopoulos, Eric Allison, Kate Dehoff, Rodrigo Brumana, Gregory Bowles, and Bonny W. Simi, including a Rule 10b5-1 sale, but the transactions were largely routine and tax-related. SEC filing
• Negative Sentiment: The biggest risk remains that Joby’s aircraft is not approved yet, so the stock could give back gains if regulatory progress takes longer than bulls expect. Article

Institutional Trading of Joby Aviation

A number of hedge funds have recently modified their holdings of JOBY. Fifth Third Bancorp grew its position in shares of Joby Aviation by 207.4% in the 4th 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 period. EverSource Wealth Advisors LLC lifted its position in Joby Aviation by 284.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,540 shares of the company’s stock valued at $27,000 after acquiring an additional 1,880 shares during the period. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in Joby Aviation during the fourth quarter worth about $28,000. Strategic Advocates LLC bought a new stake in Joby Aviation during the third quarter worth about $29,000. Finally, Pandora Wealth Inc. purchased a new stake in Joby Aviation in the fourth quarter worth about $32,000. Institutional investors 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.