Joby Aviation (NYSE:JOBY) Insider Kate Dehoff Sells 14,240 Shares of Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Kate Dehoff sold 14,240 shares of the business’s stock in a transaction dated Tuesday, July 14th. The stock was sold at an average price of $7.73, for a total transaction of $110,075.20. Following the completion of the transaction, the insider directly owned 180,179 shares in the company, valued at $1,392,783.67. This trade represents a 7.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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.

Kate Dehoff also recently made the following trade(s):

• On Monday, July 13th, Kate Dehoff sold 8,381 shares of Joby Aviation stock. The stock was sold at an average price of $7.53, for a total transaction of $63,108.93.
• On Thursday, July 2nd, Kate Dehoff sold 9,575 shares of Joby Aviation stock. The stock was sold at an average price of $8.92, for a total transaction of $85,409.00.

Joby Aviation Stock Performance

JOBY traded up $0.41 during midday trading on Tuesday, reaching $7.89. The company had a trading volume of 49,000,015 shares, compared to its average volume of 30,872,689. 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 stock has a market cap of $7.77 billion, a PE ratio of -6.87 and a beta of 2.71. Joby Aviation, Inc. has a 12-month low of $7.43 and a 12-month high of $20.95. The business has a 50-day moving average price of $9.84 and a two-hundred day moving average price of $10.51.

Joby Aviation (NYSE:JOBY) last released its earnings results on Tuesday, May 5th. The company reported ($0.12) earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $20.17 million. During the same period in the prior year, the firm earned ($0.11) EPS. On average, sell-side analysts expect that Joby Aviation, Inc. will post -0.83 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on JOBY shares. Morgan Stanley decreased their target price on Joby Aviation from $15.00 to $13.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 6th. Weiss Ratings cut Joby Aviation from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, May 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 price objective on shares of Joby Aviation in a report on Wednesday, May 6th. Wall Street Zen upgraded shares of Joby Aviation from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 10th. Finally, Canaccord Genuity Group lowered their price target on shares of Joby Aviation from $15.50 to $11.50 and set a “hold” rating on the stock in a research report on Thursday, May 7th. Two research analysts have rated the stock with a Buy rating, three have given 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 a consensus target price of $13.64.

Hedge Funds Weigh In On Joby Aviation

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of 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 purchasing an additional 2,540,382 shares during the period. Geode Capital Management LLC lifted its holdings 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 worth $155,671,000 after purchasing an additional 390,794 shares in the last quarter. State Street Corp boosted its stake in Joby Aviation by 5.0% in the 4th quarter. State Street Corp now owns 10,812,929 shares of the company’s stock worth $142,731,000 after purchasing an additional 512,129 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Joby Aviation by 6.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,370,983 shares of the company’s stock worth $57,697,000 after purchasing an additional 271,475 shares during the period. Finally, Bank of America Corp DE grew its holdings 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 buying an additional 1,223,412 shares in the last quarter. 52.85% of the stock is currently owned by hedge funds and other institutional investors.

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.