Joby Aviation (NYSE:JOBY) Insider Eric Allison Sells 9,330 Shares of Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Eric Allison sold 9,330 shares of Joby Aviation stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $8.92, for a total transaction of $83,223.60. Following the completion of the sale, the insider owned 684,779 shares in the company, valued at $6,108,228.68. This trade represents a 1.34% decrease in their ownership of the stock. The transaction 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.

Eric Allison also recently made the following trade(s):

• On Wednesday, May 6th, Eric Allison sold 74,844 shares of Joby Aviation stock. The stock was sold at an average price of $10.00, for a total value of $748,440.00.
• On Monday, April 13th, Eric Allison sold 27,698 shares of Joby Aviation stock. The shares were sold at an average price of $8.20, for a total transaction of $227,123.60.
• On Wednesday, April 8th, Eric Allison sold 826 shares of Joby Aviation stock. The shares were sold at an average price of $8.87, for a total value of $7,326.62.

Joby Aviation Stock Performance

Shares of NYSE JOBY traded up $0.45 during trading hours on Monday, reaching $8.94. 55,744,434 shares of the stock were exchanged, compared to its average volume of 30,442,541. The firm has a market capitalization of $8.79 billion, a price-to-earnings ratio of -7.77 and a beta of 2.71. The stock’s fifty day simple moving average is $9.94 and its 200 day simple moving average 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 52 week low of $7.75 and a 52 week high of $20.95.

Joby Aviation (NYSE:JOBY) last issued its quarterly 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. 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 analysts’ expectations of $20.17 million. During the same period in the previous year, the company posted ($0.11) earnings per share. Sell-side analysts predict that Joby Aviation, Inc. will post -0.83 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. HC Wainwright reiterated a “buy” rating and set a $18.00 price target on shares of Joby Aviation in a research report on Thursday, March 12th. Weiss Ratings lowered Joby Aviation from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 4th. Canaccord Genuity Group decreased their target price on Joby Aviation from $15.50 to $11.50 and set a “hold” rating on the stock in a research report on Thursday, May 7th. Morgan Stanley lowered their target price on Joby Aviation from $15.00 to $13.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 6th. Finally, Needham & Company LLC restated a “buy” rating and issued a $18.00 price target on shares of Joby Aviation in a research note on Wednesday, May 6th. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $13.64.

Institutional Investors Weigh In On Joby Aviation

A number of hedge funds and other institutional investors have recently bought and sold shares of JOBY. Lingotto Investment Management LLP increased its position in Joby Aviation by 34.2% in the 4th quarter. Lingotto Investment Management LLP now owns 3,138,240 shares of the company’s stock valued at $41,425,000 after acquiring an additional 799,260 shares during the period. DNB Asset Management AS lifted its holdings in shares of Joby Aviation by 16.3% during the fourth quarter. DNB Asset Management AS now owns 366,281 shares of the company’s stock worth $4,835,000 after purchasing an additional 51,344 shares during the period. Kemnay Advisory Services Inc. acquired a new position in shares of Joby Aviation during the third quarter worth $2,830,000. Vanguard Group Inc. grew its stake in shares of Joby Aviation by 5.1% in the fourth quarter. Vanguard Group Inc. now owns 52,488,707 shares of the company’s stock worth $692,851,000 after purchasing an additional 2,540,382 shares during the last quarter. Finally, Norges Bank bought a new position in Joby Aviation during the 4th quarter worth $32,269,000. Institutional investors own 52.85% of the company’s stock.

Joby Aviation News Roundup

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.