Joeben Bevirt Sells 15,788 Shares of Joby Aviation (NYSE:JOBY) Stock

Joby Aviation, Inc. (NYSE:JOBY) CEO Joeben Bevirt sold 15,788 shares of the firm’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $8.92, for a total value of $140,828.96. Following the sale, the chief executive officer owned 239,671 shares in the company, valued at $2,137,865.32. This trade represents a 6.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Joeben Bevirt also recently made the following trade(s):

• On Friday, May 15th, Joeben Bevirt sold 421,019 shares of Joby Aviation stock. The shares were sold at an average price of $10.38, for a total value of $4,370,177.22.
• On Wednesday, April 15th, Joeben Bevirt sold 421,018 shares of Joby Aviation stock. The shares were sold at an average price of $9.03, for a total value of $3,801,792.54.
• On Wednesday, April 15th, Joeben Bevirt sold 39,963 shares of Joby Aviation stock. The stock was sold at an average price of $9.03, for a total value of $360,865.89.
• On Wednesday, April 8th, Joeben Bevirt sold 986 shares of Joby Aviation stock. The stock was sold at an average price of $8.87, for a total value of $8,745.82.

Joby Aviation Stock Down 9.0%

JOBY opened at $8.12 on Wednesday. Joby Aviation, Inc. has a 12 month low of $7.75 and a 12 month high of $20.95. The business has a 50-day moving average of $9.93 and a two-hundred day moving average of $10.69. 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 stock has a market capitalization of $7.98 billion, a price-to-earnings ratio of -7.06 and a beta of 2.71.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.12) earnings per share 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 business had revenue of $24.25 million for the quarter, compared to analyst estimates of $20.17 million. During the same period in the prior year, the firm posted ($0.11) EPS. On average, research analysts expect that Joby Aviation, Inc. will post -0.83 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on JOBY. Canaccord Genuity Group dropped their price objective on Joby Aviation from $15.50 to $11.50 and set a “hold” rating for the company in a report on Thursday, May 7th. HC Wainwright restated a “buy” rating and set a $18.00 price target on shares of Joby Aviation in a research note on Thursday, March 12th. Wall Street Zen upgraded Joby Aviation from a “strong sell” rating to a “sell” rating in a report on Sunday, May 10th. Weiss Ratings lowered Joby Aviation from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 4th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $18.00 target price on shares of Joby Aviation in a report on Wednesday, May 6th. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $13.64.

Joby Aviation News Roundup

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

• Positive Sentiment: Recent coverage says investors are still bidding up Joby Aviation on hopes it can begin commercial air taxi operations this year, a major milestone that would validate the business model and open the door to future revenue. Joby Aviation Stock: Is It More Likely to Hit $15 or $5 This Year?
• Positive Sentiment: Another update highlighted that Joby’s air taxi expansion is fueling investor excitement and lifting sentiment around the company’s long-term growth potential. Why Joby Aviation Stock Popped Today
• Neutral Sentiment: Several executives, including CFO Rodrigo Brumana and CEO Joeben Bevirt, disclosed share sales. The company said these were mainly to cover tax withholding tied to vesting equity awards, which makes the transactions look more routine than conviction-driven. SEC filing
• Neutral Sentiment: Additional insider sales were reported from Didier Papadopoulos, Eric Allison, Kate Dehoff, Gregory Bowles, and Bonny W. Simi, including a pre-arranged Rule 10b5-1 sale. These were also described as tax-related and do not necessarily signal a fundamental change in the outlook. SEC filing
• Negative Sentiment: The key downside risk is that Joby’s aircraft is not yet approved for commercial service, so any delay in regulatory progress could cool the rally and pressure the stock. Article

Institutional Trading of Joby Aviation

A number of institutional investors have recently added to or reduced their stakes in the business. GoalVest Advisory LLC raised its position in Joby Aviation by 2.1% in the fourth quarter. GoalVest Advisory LLC now owns 33,500 shares of the company’s stock valued at $442,000 after purchasing an additional 700 shares during the period. EP Wealth Advisors LLC boosted its position in shares of Joby Aviation by 2.2% in the second quarter. EP Wealth Advisors LLC now owns 38,228 shares of the company’s stock worth $403,000 after buying an additional 821 shares during the period. Signaturefd LLC boosted its position in shares of Joby Aviation by 8.4% in the fourth quarter. Signaturefd LLC now owns 11,218 shares of the company’s stock worth $148,000 after buying an additional 872 shares during the period. CIBC Private Wealth Group LLC grew its stake in shares of Joby Aviation by 38.7% in the fourth quarter. CIBC Private Wealth Group LLC now owns 4,256 shares of the company’s stock valued at $56,000 after buying an additional 1,188 shares in the last quarter. Finally, Strs Ohio grew its stake in shares of Joby Aviation by 2.5% in the first quarter. Strs Ohio now owns 50,000 shares of the company’s stock valued at $413,000 after buying an additional 1,200 shares in the last quarter. 52.85% of the stock is owned by hedge funds and other institutional investors.

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.