Joby Aviation (NYSE:JOBY) Insider Didier Papadopoulos Sells 5,999 Shares

Joby Aviation, Inc. (NYSE:JOBY) insider Didier Papadopoulos sold 5,999 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $9.83, for a total value of $58,970.17. Following the completion of the transaction, the insider directly owned 150,430 shares of the company’s stock, valued at $1,478,726.90. This represents a 3.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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 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.
• On Monday, April 6th, Didier Papadopoulos sold 3,394 shares of Joby Aviation stock. The stock was sold at an average price of $8.76, for a total value of $29,731.44.
• On Thursday, April 2nd, Didier Papadopoulos sold 12,965 shares of Joby Aviation stock. The stock was sold at an average price of $8.15, for a total value of $105,664.75.

Joby Aviation Trading Down 3.5%

NYSE:JOBY opened at $9.33 on Wednesday. The company has a quick ratio of 22.05, a current ratio of 22.06 and a debt-to-equity ratio of 0.36. The business’s 50 day moving average is $9.84 and its two-hundred day moving average is $11.28. Joby Aviation, Inc. has a 52 week low of $7.75 and a 52 week high of $20.95. The company has a market cap of $9.18 billion, a PE ratio of -8.11 and a beta of 2.66.

Joby Aviation (NYSE:JOBY) last released its earnings results on Tuesday, May 5th. The company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $24.25 million for the quarter, compared to the consensus estimate of $20.17 million. During the same quarter last year, the business posted ($0.11) EPS. On average, analysts predict that Joby Aviation, Inc. will post -0.83 EPS for the current year.

Joby Aviation News Roundup

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

• Positive Sentiment: Investor sentiment around eVTOL/air-taxi stocks improved after a Jefferies consumer survey signaled growing interest in the category, helping lift Joby Aviation alongside peers. Stock Market Today, June 15: Joby Aviation Jumps on Positive Consumer Sentiment on eVOTLs
• Positive Sentiment: Coverage highlighting Joby’s Dayton manufacturing buildout and the broader “birthplace of aviation” narrative reinforces the company’s progress toward production and commercialization. How Joby is building its air taxi company in Dayton with workers who are ‘production heroes’
• Neutral Sentiment: Local media reports continued to spotlight Joby’s Dayton operations and the company’s effort to help define standards in a still-emerging industry. How Joby is building its air taxi company in Dayton with workers who are ‘production heroes’
• Neutral Sentiment: A related article emphasized Joby’s Dayton plant as part of a broader effort to create standards for the air-taxi industry; informative, but not a clear near-term financial catalyst. Thomas Gnau: How Joby is building its air taxi company in Dayton with workers who are ‘production heroes’
• Negative Sentiment: Insider Didier Papadopoulos sold shares on June 15 and June 16 under a pre-arranged 10b5-1 plan to cover tax withholding tied to equity vesting, which can still weigh on sentiment even if the sales were routine. SEC Form 4 filing

Analysts Set New Price Targets

A number of research analysts have commented on the company. Weiss Ratings downgraded Joby Aviation from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, May 4th. Wall Street Zen raised Joby Aviation from a “strong sell” rating to a “sell” rating in a report on Sunday, May 10th. Needham & Company LLC reissued a “buy” rating and issued a $18.00 price target on shares of Joby Aviation in a report on Wednesday, May 6th. Oppenheimer set a $18.00 price target on Joby Aviation in a report on Thursday, February 26th. Finally, JPMorgan Chase & Co. cut their price target on Joby Aviation from $8.00 to $7.00 and set an “underweight” rating on the stock in a report on Thursday, February 26th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Reduce” and an average target price of $13.06.

Institutional Trading of Joby Aviation

Several hedge funds have recently made changes to their positions in JOBY. Vanguard Group Inc. raised its stake in Joby Aviation by 5.1% during the 4th quarter. Vanguard Group Inc. now owns 52,488,707 shares of the company’s stock valued at $692,851,000 after acquiring an additional 2,540,382 shares in the last quarter. Geode Capital Management LLC raised its stake in Joby Aviation by 3.4% during 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 in the last quarter. State Street Corp raised its stake in 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. raised its stake in 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 raised its stake 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 valued at $67,661,000 after acquiring an additional 1,223,412 shares in the last quarter. Institutional investors own 52.85% of the company’s stock.

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.