Joby Aviation (NYSE:JOBY) CFO Rodrigo Brumana Sells 37,831 Shares

Joby Aviation, Inc. (NYSE:JOBY) CFO Rodrigo Brumana sold 37,831 shares of Joby Aviation stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $6.77, for a total value of $256,115.87. Following the sale, the chief financial officer directly owned 119,729 shares of the company’s stock, valued at $810,565.33. This represents a 24.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 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.

Rodrigo Brumana also recently made the following trade(s):

• On Thursday, September 3rd, Rodrigo Brumana sold 8,898 shares of Joby Aviation stock. The shares were sold at an average price of $6.89, for a total transaction of $61,307.22.
• On Thursday, July 2nd, Rodrigo Brumana sold 2,601 shares of Joby Aviation stock. The shares were sold at an average price of $8.92, for a total transaction of $23,200.92.

Joby Aviation Price Performance

NYSE:JOBY opened at $6.87 on Friday. Joby Aviation, Inc. has a 52 week low of $6.61 and a 52 week high of $19.98. The firm has a market cap of $6.80 billion, a price-to-earnings ratio of -6.94 and a beta of 2.68. The firm’s 50-day simple moving average is $7.73 and its 200 day simple moving average is $8.99. The company has a debt-to-equity ratio of 0.40, a quick ratio of 17.98 and a current ratio of 17.98.

Joby Aviation (NYSE:JOBY) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.02). The business had revenue of $38.64 million during the quarter, compared to analyst estimates of $30.20 million. Joby Aviation had a negative return on equity of 55.29% and a negative net margin of 755.11%.Joby Aviation’s revenue for the quarter was up 257493.3% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.41) EPS. As a group, sell-side analysts predict that Joby Aviation, Inc. will post -1 earnings per share for the current year.

Analysts Set New Price Targets

JOBY has been the subject of a number of analyst reports. Wall Street Zen downgraded shares of Joby Aviation from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 8th. Weiss Ratings raised Joby Aviation from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 14th. Needham & Company LLC lowered their price objective on Joby Aviation from $18.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. 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. Finally, Susquehanna set a $18.00 target price on Joby Aviation in a report on Thursday, August 6th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $13.81.

Institutional Investors Weigh In On Joby Aviation

A number of large investors have recently modified their holdings of the business. EP Wealth Advisors LLC raised its holdings 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 worth $403,000 after buying an additional 821 shares in the last quarter. CIBC Private Wealth Group LLC grew its position in 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 acquiring an additional 1,188 shares during the last quarter. Strs Ohio raised its stake in Joby Aviation by 2.5% during the first quarter. Strs Ohio now owns 50,000 shares of the company’s stock worth $413,000 after acquiring an additional 1,200 shares in the last quarter. Scotia Capital Inc. raised its stake in Joby Aviation by 8.1% during the third quarter. Scotia Capital Inc. now owns 16,663 shares of the company’s stock worth $269,000 after acquiring an additional 1,250 shares in the last quarter. Finally, Parallel Advisors LLC lifted its holdings in shares of Joby Aviation by 23.3% in the third quarter. Parallel Advisors LLC now owns 6,845 shares of the company’s stock worth $110,000 after acquiring an additional 1,295 shares during the last quarter. Institutional investors and hedge funds own 52.85% of the company’s stock.

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.