Rodrigo Brumana Sells 78,489 Shares of Joby Aviation (NYSE:JOBY) Stock

Joby Aviation, Inc. (NYSE:JOBY) CFO Rodrigo Brumana sold 78,489 shares of the business’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $11.30, for a total transaction of $886,925.70. Following the sale, the chief financial officer directly owned 81,694 shares in the company, valued at approximately $923,142.20. This represents a 49.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, April 8th, Rodrigo Brumana sold 566 shares of Joby Aviation stock. The stock was sold at an average price of $8.87, for a total transaction of $5,020.42.
• On Tuesday, March 10th, Rodrigo Brumana sold 1,159 shares of Joby Aviation stock. The stock was sold at an average price of $10.25, for a total transaction of $11,879.75.

Joby Aviation Price Performance

JOBY stock traded up $0.14 during trading on Monday, reaching $9.69. 21,847,400 shares of the company were exchanged, compared to its average volume of 28,024,793. The company has a market cap of $9.53 billion, a P/E ratio of -8.43 and a beta of 2.66. Joby Aviation, Inc. has a 52-week low of $7.75 and a 52-week high of $20.95. The stock’s 50 day moving average price is $9.69 and its 200 day moving average price is $11.49. 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 (NYSE:JOBY) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.09. The firm had revenue of $24.25 million for the quarter, compared to the consensus estimate 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 firm earned ($0.11) earnings per share. As a group, analysts predict that Joby Aviation, Inc. will post -0.83 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on JOBY shares. JPMorgan Chase & Co. reduced their price target on shares of Joby Aviation from $8.00 to $7.00 and set an “underweight” rating on the stock in a report on Thursday, February 26th. HC Wainwright reaffirmed a “buy” rating and issued a $18.00 price target on shares of Joby Aviation in a report on Thursday, March 12th. Canaccord Genuity Group reduced their price target on shares of Joby Aviation from $15.50 to $11.50 and set a “hold” rating on the stock in a report on Thursday, May 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $18.00 price target on shares of Joby Aviation in a report on Wednesday, May 6th. Finally, Oppenheimer set a $18.00 price target on shares of Joby Aviation in a report on Thursday, February 26th. 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $13.06.

Hedge Funds Weigh In On Joby Aviation

Several institutional investors and hedge funds have recently modified their holdings of the company. Segall Bryant & Hamill LLC purchased a new position in shares of Joby Aviation during the first quarter valued at approximately $131,000. J. Derek Lewis & Associates Inc. purchased a new position in shares of Joby Aviation during the first quarter valued at approximately $121,000. Western Wealth Management LLC purchased a new position in shares of Joby Aviation during the first quarter valued at approximately $37,000. Edgestream Partners L.P. purchased a new position in shares of Joby Aviation during the first quarter valued at approximately $1,189,000. Finally, Arkadios Wealth Advisors purchased a new position in shares of Joby Aviation during the first quarter valued at approximately $90,000. 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.