Joby Aviation (NYSE:JOBY) Insider Sells $110,075.20 in Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Kate Dehoff sold 14,240 shares of the stock in a transaction that occurred on Tuesday, July 14th. The shares were sold at an average price of $7.73, for a total value of $110,075.20. Following the transaction, the insider directly owned 180,179 shares of the company’s stock, valued at $1,392,783.67. This trade represents a 7.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible 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 Monday, July 13th, Kate Dehoff sold 8,381 shares of Joby Aviation stock. The stock was sold at an average price of $7.53, for a total value of $63,108.93.
• On Thursday, July 2nd, Kate Dehoff sold 9,575 shares of Joby Aviation stock. The stock was sold at an average price of $8.92, for a total value of $85,409.00.

Joby Aviation Trading Down 5.3%

Shares of Joby Aviation stock opened at $7.35 on Friday. The stock has a market cap of $7.23 billion, a P/E ratio of -6.39 and a beta of 2.71. The company has a quick ratio of 22.05, a current ratio of 22.06 and a debt-to-equity ratio of 0.36. Joby Aviation, Inc. has a 12-month low of $7.32 and a 12-month high of $20.95. The business’s 50 day moving average is $9.71 and its 200-day moving average is $10.37.

Joby Aviation (NYSE:JOBY) last released its earnings results on Tuesday, May 5th. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.09. The business had revenue of $24.25 million during 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 period last year, the business earned ($0.11) earnings per share. Equities research analysts predict that Joby Aviation, Inc. will post -0.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Joby Aviation

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Handelsbanken Fonder AB increased its holdings in shares of Joby Aviation by 43.6% in the second quarter. Handelsbanken Fonder AB now owns 217,426 shares of the company’s stock valued at $1,939,000 after purchasing an additional 66,000 shares during the last quarter. 180 Wealth Advisors LLC lifted its stake in shares of Joby Aviation by 13.5% during the 2nd quarter. 180 Wealth Advisors LLC now owns 62,729 shares of the company’s stock worth $560,000 after buying an additional 7,447 shares during the last quarter. CoreCap Advisors LLC lifted its stake in shares of Joby Aviation by 408.1% during the 2nd quarter. CoreCap Advisors LLC now owns 8,292 shares of the company’s stock worth $74,000 after buying an additional 6,660 shares during the last quarter. Segall Bryant & Hamill LLC bought a new stake in shares of Joby Aviation during the 1st quarter worth about $131,000. Finally, J. Derek Lewis & Associates Inc. bought a new stake in shares of Joby Aviation during the 1st quarter worth about $121,000. 52.85% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Canaccord Genuity Group decreased 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. 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. Wall Street Zen upgraded Joby Aviation from a “strong sell” rating to a “sell” rating in a report on Sunday, May 10th. Morgan Stanley lowered their price target 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. Finally, Weiss Ratings upgraded Joby Aviation from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $13.64.

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.