Insider Selling: Joby Aviation (NYSE:JOBY) Insider Sells $18,604.50 in Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Didier Papadopoulos sold 1,975 shares of the business’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $9.42, for a total value of $18,604.50. Following the sale, the insider owned 148,455 shares of the company’s stock, valued at $1,398,446.10. The trade was a 1.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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.

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

• 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 transaction of $58,970.17.
• On Thursday, April 9th, Didier Papadopoulos sold 271 shares of Joby Aviation stock. The shares were sold at an average price of $8.47, for a total transaction 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 transaction of $7,326.62.
• On Monday, April 6th, Didier Papadopoulos sold 3,394 shares of Joby Aviation stock. The shares were sold at an average price of $8.76, for a total value of $29,731.44.
• On Thursday, April 2nd, Didier Papadopoulos sold 12,965 shares of Joby Aviation stock. The shares were sold at an average price of $8.15, for a total value of $105,664.75.

Joby Aviation Trading Up 6.5%

Shares of JOBY opened at $10.00 on Friday. The stock’s 50-day moving average is $9.89 and its two-hundred day moving average is $11.21. The stock has a market cap of $9.83 billion, a PE ratio of -8.69 and a beta of 2.66. Joby Aviation, Inc. has a 12 month low of $7.75 and a 12 month high of $20.95. 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 issued its earnings results 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 return on equity of 60.54% and a negative net margin of 1,232.62%.The company had revenue of $24.25 million during the quarter, compared to the consensus estimate of $20.17 million. During the same quarter in the prior year, the business earned ($0.11) earnings per share. Equities 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. GoalVest Advisory LLC grew its stake in Joby Aviation by 2.1% during the 4th quarter. GoalVest Advisory LLC now owns 33,500 shares of the company’s stock valued at $442,000 after purchasing an additional 700 shares in the last quarter. Thrivent Financial for Lutherans raised its position in shares of Joby Aviation by 4.6% in the 3rd quarter. Thrivent Financial for Lutherans now owns 16,705 shares of the company’s stock valued at $270,000 after purchasing an additional 736 shares in the last quarter. EP Wealth Advisors LLC boosted its stake in shares of Joby Aviation by 2.2% during the 2nd quarter. EP Wealth Advisors LLC now owns 38,228 shares of the company’s stock valued at $403,000 after buying an additional 821 shares during the last quarter. Signaturefd LLC boosted its stake in shares of Joby Aviation by 8.4% during the 4th quarter. Signaturefd LLC now owns 11,218 shares of the company’s stock valued at $148,000 after buying an additional 872 shares during the last quarter. Finally, CIBC Private Wealth Group LLC grew its position in shares of Joby Aviation by 38.7% during the fourth quarter. CIBC Private Wealth Group LLC now owns 4,256 shares of the company’s stock worth $56,000 after buying an additional 1,188 shares in the last quarter. Hedge funds and other institutional investors own 52.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on JOBY. Weiss Ratings cut Joby Aviation from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, May 4th. HC Wainwright reiterated a “buy” rating and set a $18.00 price objective on shares of Joby Aviation in a research note on Thursday, March 12th. JPMorgan Chase & Co. reduced their target price on shares of Joby Aviation from $8.00 to $7.00 and set an “underweight” rating on the stock in a research report on Thursday, February 26th. Canaccord Genuity Group decreased their target price on shares of Joby Aviation from $15.50 to $11.50 and set a “hold” rating for the company in a research note on Thursday, May 7th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 price target on shares of Joby Aviation in a report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $13.06.

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.