Insider Selling: Joby Aviation (NYSE:JOBY) Insider Sells $85,409.00 in Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Kate Dehoff sold 9,575 shares of the firm’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 $85,409.00. Following the transaction, the insider owned 186,735 shares of the company’s stock, valued at $1,665,676.20. This trade represents a 4.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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, April 14th, Kate Dehoff sold 14,295 shares of Joby Aviation stock. The shares were sold at an average price of $8.73, for a total value of $124,795.35.
• On Monday, April 13th, Kate Dehoff sold 8,310 shares of Joby Aviation stock. The shares were sold at an average price of $8.20, for a total transaction of $68,142.00.
• On Wednesday, April 8th, Kate Dehoff sold 667 shares of Joby Aviation stock. The stock was sold at an average price of $8.87, for a total transaction of $5,916.29.

Joby Aviation Trading Up 5.2%

Shares of NYSE JOBY traded up $0.45 during midday trading on Monday, reaching $8.94. The stock had a trading volume of 55,744,434 shares, compared to its average volume of 30,442,541. The company’s 50 day moving average price is $9.94 and its 200 day moving average price is $10.73. The company has a debt-to-equity ratio of 0.36, a quick ratio of 22.05 and a current ratio of 22.06. Joby Aviation, Inc. has a twelve month low of $7.75 and a twelve month high of $20.95. The firm has a market cap of $8.79 billion, a price-to-earnings ratio of -7.77 and a beta of 2.71.

Joby Aviation (NYSE:JOBY) last released its earnings results on Tuesday, May 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.09. The business 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 quarter in the previous year, the business earned ($0.11) earnings per share. As a group, sell-side analysts expect that Joby Aviation, Inc. will post -0.83 EPS for the current year.

Institutional Trading of Joby Aviation

Hedge funds and other institutional investors have recently bought and sold shares of the business. Segall Bryant & Hamill LLC bought a new position in shares of Joby Aviation in the first quarter valued at $131,000. J. Derek Lewis & Associates Inc. bought a new stake in shares of Joby Aviation during the first quarter worth about $121,000. Western Wealth Management LLC acquired a new stake in shares of Joby Aviation in the 1st quarter worth about $37,000. Edgestream Partners L.P. acquired a new stake in shares of Joby Aviation in the 1st quarter worth about $1,189,000. Finally, Arkadios Wealth Advisors bought a new position in Joby Aviation in the 1st quarter valued at about $90,000. Institutional investors own 52.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Wall Street Zen upgraded Joby Aviation from a “strong sell” rating to a “sell” rating in a report on Sunday, May 10th. Needham & Company LLC reiterated a “buy” rating and issued a $18.00 price objective on shares of Joby Aviation in a research note on Wednesday, May 6th. Weiss Ratings cut shares of Joby Aviation from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, May 4th. Canaccord Genuity Group decreased their price target 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, HC Wainwright reiterated a “buy” rating and set a $18.00 price objective on shares of Joby Aviation in a report on Thursday, March 12th. Two research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Joby Aviation presently has a consensus rating of “Reduce” and an average price target of $13.64.

Key Joby Aviation News

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.