Insider Selling: Joby Aviation (NYSE:JOBY) Insider Sells 12,939 Shares of Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Didier Papadopoulos sold 12,939 shares of the stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $8.92, for a total transaction of $115,415.88. Following the transaction, the insider owned 160,620 shares in the company, valued at approximately $1,432,730.40. The trade was a 7.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 Tuesday, June 16th, Didier Papadopoulos sold 1,975 shares of Joby Aviation stock. The shares were sold at an average price of $9.42, for a total value of $18,604.50.
• 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 value 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 value of $2,295.37.
• On Wednesday, April 8th, Didier Papadopoulos sold 826 shares of Joby Aviation stock. The stock was sold at an average price of $8.87, for a total value of $7,326.62.

Joby Aviation Price Performance

JOBY stock traded up $0.45 during midday trading on Monday, reaching $8.94. The company had a trading volume of 55,744,434 shares, compared to its average volume of 30,442,541. The company has a market capitalization of $8.79 billion, a price-to-earnings ratio of -7.77 and a beta of 2.71. The stock has a 50 day moving average price of $9.93 and a 200-day moving average price of $10.76. Joby Aviation, Inc. has a 1-year low of $7.75 and a 1-year 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 announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.09. Joby Aviation had a negative net margin of 1,232.62% and a negative return on equity of 60.54%. The firm had revenue of $24.25 million for the quarter, compared to the consensus estimate of $20.17 million. During the same period in the prior year, the company posted ($0.11) earnings per share. Equities research analysts expect that Joby Aviation, Inc. will post -0.83 earnings per share for the current year.

Institutional Trading of Joby Aviation

A number of hedge funds have recently added to or reduced their stakes in JOBY. Vanguard Group Inc. grew its stake in shares of Joby Aviation by 5.1% during the fourth quarter. Vanguard Group Inc. now owns 52,488,707 shares of the company’s stock worth $692,851,000 after buying an additional 2,540,382 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Joby Aviation by 3.4% in the 4th quarter. Geode Capital Management LLC now owns 11,790,532 shares of the company’s stock valued at $155,671,000 after acquiring an additional 390,794 shares during the last quarter. State Street Corp boosted its holdings in shares of Joby Aviation by 5.0% during the 4th quarter. State Street Corp now owns 10,812,929 shares of the company’s stock valued at $142,731,000 after acquiring an additional 512,129 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Joby Aviation by 6.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,370,983 shares of the company’s stock valued at $57,697,000 after acquiring an additional 271,475 shares in the last quarter. Finally, Bank of America Corp DE grew its position in Joby Aviation by 41.2% during the 3rd quarter. Bank of America Corp DE now owns 4,192,109 shares of the company’s stock worth $67,661,000 after acquiring an additional 1,223,412 shares during the last quarter. Institutional investors and hedge funds own 52.85% of the company’s stock.

Key Stories Impacting Joby Aviation

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.

Analyst Ratings Changes

JOBY has been the topic of a number of recent analyst reports. Morgan Stanley decreased their price objective on shares of Joby Aviation from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 6th. HC Wainwright reaffirmed a “buy” rating and issued a $18.00 target price on shares of Joby Aviation in a report on Thursday, March 12th. Weiss Ratings cut Joby Aviation from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, May 4th. 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 research report on Thursday, May 7th. Finally, Wall Street Zen upgraded Joby Aviation from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 10th. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Joby Aviation currently has a consensus rating of “Reduce” and a consensus target price of $13.64.

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.