Joby Aviation (NYSE:JOBY) CEO Sells $140,828.96 in Stock

Joby Aviation, Inc. (NYSE:JOBY) CEO Joeben Bevirt sold 15,788 shares of the business’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $8.92, for a total value of $140,828.96. Following the sale, the chief executive officer directly owned 239,671 shares in the company, valued at $2,137,865.32. This trade represents a 6.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Joeben Bevirt also recently made the following trade(s):

• On Friday, May 15th, Joeben Bevirt sold 421,019 shares of Joby Aviation stock. The stock was sold at an average price of $10.38, for a total value of $4,370,177.22.
• On Wednesday, April 15th, Joeben Bevirt sold 421,018 shares of Joby Aviation stock. The shares were sold at an average price of $9.03, for a total value of $3,801,792.54.
• On Wednesday, April 15th, Joeben Bevirt sold 39,963 shares of Joby Aviation stock. The stock was sold at an average price of $9.03, for a total value of $360,865.89.
• On Wednesday, April 8th, Joeben Bevirt sold 986 shares of Joby Aviation stock. The stock was sold at an average price of $8.87, for a total value of $8,745.82.

Joby Aviation Stock Down 2.3%

Joby Aviation stock opened at $7.93 on Thursday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 22.05 and a current ratio of 22.06. The firm has a market capitalization of $7.81 billion, a price-to-earnings ratio of -6.90 and a beta of 2.71. Joby Aviation, Inc. has a fifty-two week low of $7.75 and a fifty-two week high of $20.95. The stock’s fifty day moving average is $9.91 and its two-hundred day moving average is $10.65.

Joby Aviation (NYSE:JOBY) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.12) earnings per share (EPS) 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 business had revenue of $24.25 million during the quarter, compared to the consensus estimate of $20.17 million. During the same quarter in the previous year, the company posted ($0.11) EPS. Analysts predict that Joby Aviation, Inc. will post -0.83 EPS for the current fiscal year.

Joby Aviation News Summary

Here are the key news stories impacting Joby Aviation this week:

• Positive Sentiment: Investors are still focused on the upside if Joby can launch commercial air taxi service by 2030 or even sooner, since that would validate its eVTOL model and could open a major new revenue stream. Prediction: Can Joby Aviation Stock Soar 500% by 2030?
• Positive Sentiment: Recent coverage continues to highlight the possibility that Joby could begin commercial air taxi operations this year, which keeps speculative buying interest alive. Joby Aviation Stock: Is It More Likely to Hit $15 or $5 This Year?
• Neutral Sentiment: Toyota’s ongoing partnership work with Joby Aviation keeps a strategic industry name attached to the company, reinforcing its long-term commercialization story. Toyota Motor (TSE:7203) Extends Lexus MSG Partnership, Is It Fully Priced?
• Neutral Sentiment: Multiple insider sales were disclosed from executives including the CEO and CFO, but the filings indicate many of the transactions were related to tax withholding or routine sales tied to vesting awards. Joby Aviation (NYSE:JOBY) CFO Rodrigo Brumana Sells 2,601 Shares
• Negative Sentiment: The stock is being weighed down by concerns that Joby’s aircraft is not yet approved for commercial use, so any delay in regulatory progress could pressure the shares further. Joby Aviation stock tests $8 support zone: What’s driving the air taxi pullback?
• Negative Sentiment: Recent insider selling from several top executives may be adding to investor caution, even if the sales were largely prearranged or tax-related. Joby Aviation (NYSE:JOBY) CEO Joeben Bevirt Sells 15,788 Shares

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Morgan Stanley reduced their price target on shares of Joby Aviation from $15.00 to $13.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 6th. Canaccord Genuity Group cut their price objective on 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 reaffirmed a “buy” rating and issued a $18.00 target price on shares of Joby Aviation in a research note on Wednesday, May 6th. HC Wainwright reiterated a “buy” rating and set a $18.00 target price on shares of Joby Aviation in a report on Thursday, March 12th. Finally, Weiss Ratings downgraded Joby Aviation from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, May 4th. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $13.64.

Hedge Funds Weigh In On Joby Aviation

Several institutional investors and hedge funds have recently modified their holdings of JOBY. Fifth Third Bancorp lifted its stake in shares of Joby Aviation by 207.4% during the 4th quarter. Fifth Third Bancorp now owns 1,998 shares of the company’s stock worth $26,000 after purchasing an additional 1,348 shares during the period. EverSource Wealth Advisors LLC increased its stake in Joby Aviation by 284.8% in the second quarter. EverSource Wealth Advisors LLC now owns 2,540 shares of the company’s stock valued at $27,000 after purchasing an additional 1,880 shares during the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in Joby Aviation during the fourth quarter worth about $28,000. Strategic Advocates LLC acquired a new stake in Joby Aviation in the 3rd quarter worth about $29,000. Finally, Pandora Wealth Inc. acquired a new stake in Joby Aviation in the 4th quarter worth about $32,000. Hedge funds and other institutional investors 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.