Insider Selling: Joby Aviation (NYSE:JOBY) Insider Sells $63,108.93 in Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Kate Dehoff sold 8,381 shares of Joby Aviation stock in a transaction dated Monday, July 13th. The stock was sold at an average price of $7.53, for a total value of $63,108.93. Following the sale, the insider owned 194,419 shares of the company’s stock, valued at approximately $1,463,975.07. This represents a 4.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Kate Dehoff also recently made the following trade(s):

• On Tuesday, July 14th, Kate Dehoff sold 14,240 shares of Joby Aviation stock. The shares were sold at an average price of $7.73, for a total transaction of $110,075.20.
• On Thursday, July 2nd, Kate Dehoff sold 9,575 shares of Joby Aviation stock. The shares were sold at an average price of $8.92, for a total transaction of $85,409.00.

Joby Aviation Price Performance

Joby Aviation stock opened at $7.35 on Friday. Joby Aviation, Inc. has a 12-month low of $7.32 and a 12-month high of $20.95. The stock has a market capitalization of $7.23 billion, a P/E ratio of -6.39 and a beta of 2.71. The firm’s 50-day moving average is $9.71 and its two-hundred day moving average is $10.37. 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 (NYSE:JOBY) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.09. The business had revenue of $24.25 million during 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 quarter in the previous year, the business posted ($0.11) earnings per share. Equities analysts predict that Joby Aviation, Inc. will post -0.83 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Canaccord Genuity Group cut their price target on Joby Aviation from $15.50 to $11.50 and set a “hold” rating for the company in a report on Thursday, May 7th. Needham & Company LLC restated a “buy” rating and set a $18.00 price objective on shares of Joby Aviation in a report on Wednesday, May 6th. Weiss Ratings raised Joby Aviation from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday. Wall Street Zen upgraded Joby Aviation from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 10th. Finally, Morgan Stanley reduced their target price on Joby Aviation from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $13.64.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GoalVest Advisory LLC grew its position in Joby Aviation by 2.1% during the fourth quarter. GoalVest Advisory LLC now owns 33,500 shares of the company’s stock valued at $442,000 after acquiring an additional 700 shares during the period. EP Wealth Advisors LLC lifted its stake in shares of Joby Aviation by 2.2% in the 2nd quarter. EP Wealth Advisors LLC now owns 38,228 shares of the company’s stock valued at $403,000 after purchasing an additional 821 shares in the last quarter. Signaturefd LLC grew its holdings in shares of Joby Aviation by 8.4% during the 4th quarter. Signaturefd LLC now owns 11,218 shares of the company’s stock worth $148,000 after purchasing an additional 872 shares during the period. CIBC Private Wealth Group LLC grew its holdings in shares of Joby Aviation by 38.7% during the 4th quarter. CIBC Private Wealth Group LLC now owns 4,256 shares of the company’s stock worth $56,000 after purchasing an additional 1,188 shares during the period. Finally, Strs Ohio increased its position in Joby Aviation by 2.5% during the 1st quarter. Strs Ohio now owns 50,000 shares of the company’s stock worth $413,000 after purchasing an additional 1,200 shares in the last quarter. 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.