Insider Selling: Joby Aviation (NYSE:JOBY) Insider Sells 12,939 Shares

Joby Aviation, Inc. (NYSE:JOBY) insider Didier Papadopoulos sold 12,939 shares of the company’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $8.92, for a total value of $115,415.88. Following the sale, the insider owned 160,620 shares in the company, valued at $1,432,730.40. The trade was a 7.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Didier Papadopoulos also recently made the following trade(s):

• On Tuesday, June 16th, Didier Papadopoulos sold 1,975 shares of Joby Aviation stock. The shares were sold at an average price of $9.42, for a total value of $18,604.50.
• On Monday, June 15th, Didier Papadopoulos sold 5,999 shares of Joby Aviation stock. The stock was sold at an average price of $9.83, for a total value of $58,970.17.
• On Thursday, April 9th, Didier Papadopoulos sold 271 shares of Joby Aviation stock. The stock was sold at an average price of $8.47, for a total value of $2,295.37.
• On Wednesday, April 8th, Didier Papadopoulos sold 826 shares of Joby Aviation stock. The shares were sold at an average price of $8.87, for a total value of $7,326.62.

Joby Aviation Stock Up 5.2%

Shares of NYSE:JOBY traded up $0.45 during midday trading on Monday, hitting $8.94. The stock had a trading volume of 55,744,434 shares, compared to its average volume of 30,442,541. Joby Aviation, Inc. has a 12 month low of $7.75 and a 12 month 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. The business’s 50-day simple moving average is $9.93 and its 200-day simple moving average is $10.76. The company has a market cap of $8.79 billion, a P/E ratio of -7.77 and a beta of 2.71.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings results 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. The firm had revenue of $24.25 million for the quarter, compared to analyst estimates 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 period in the prior year, the firm posted ($0.11) earnings per share. On average, sell-side analysts forecast that Joby Aviation, Inc. will post -0.83 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of JOBY. Lingotto Investment Management LLP grew its holdings in Joby Aviation by 34.2% in the 4th quarter. Lingotto Investment Management LLP now owns 3,138,240 shares of the company’s stock valued at $41,425,000 after buying an additional 799,260 shares in the last quarter. DNB Asset Management AS boosted its position in shares of Joby Aviation by 16.3% in the fourth quarter. DNB Asset Management AS now owns 366,281 shares of the company’s stock valued at $4,835,000 after acquiring an additional 51,344 shares during the period. Kemnay Advisory Services Inc. bought a new stake in shares of Joby Aviation in the third quarter valued at about $2,830,000. Vanguard Group Inc. grew its stake in shares of Joby Aviation by 5.1% in the fourth quarter. Vanguard Group Inc. now owns 52,488,707 shares of the company’s stock valued at $692,851,000 after acquiring an additional 2,540,382 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Joby Aviation in the fourth quarter valued at about $32,269,000. Institutional investors and hedge funds own 52.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on JOBY. Needham & Company LLC reiterated a “buy” rating and issued a $18.00 target price on shares of Joby Aviation in a research note on Wednesday, May 6th. Morgan Stanley dropped their price objective on Joby Aviation from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 6th. Canaccord Genuity Group cut their price objective on Joby Aviation from $15.50 to $11.50 and set a “hold” rating for the company in a research report on Thursday, May 7th. Weiss Ratings lowered Joby Aviation from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, May 4th. Finally, Wall Street Zen upgraded Joby Aviation from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 10th. 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 company. According to data from MarketBeat, Joby Aviation has a consensus rating of “Reduce” and a consensus price target of $13.64.

Trending Headlines about Joby Aviation

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

• Positive Sentiment: Investor excitement increased after reports highlighted Toyota’s support for Joby’s all-electric air taxis and the company’s progress toward vertical flight and production readiness. Toyota backs Joby’s all-electric air taxis as production aircraft prepare for vertical flight
• Positive Sentiment: Joby also announced it is expanding manufacturing capacity in California and Ohio and adding aircraft to its fleet, reinforcing the narrative that it is scaling operations ahead of commercialization. Joby Expands Manufacturing Capacity in California and Ohio, Adds New Aircraft to Its Fleet
• Positive Sentiment: Several market commentaries pointed to a strong Monday rally, saying Joby’s valuation got another lift as traders focused on expansion and air taxi growth prospects. Why Joby Aviation Stock Is Surging Today
• Neutral Sentiment: Multiple executives and insiders, including the CEO, CFO, and other senior leaders, sold shares this week, but the filings say the sales were primarily to cover tax withholding tied to vesting equity awards or made under a pre-arranged trading plan, which makes the activity less concerning than open-market selling.

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.