Joby Aviation (NYSE:JOBY) Insider Kate Dehoff Sells 8,381 Shares

Joby Aviation, Inc. (NYSE:JOBY) insider Kate Dehoff sold 8,381 shares of the firm’s stock in a transaction dated Monday, July 13th. The stock was sold at an average price of $7.53, for a total value of $63,108.93. Following the transaction, the insider directly owned 194,419 shares in the company, valued at approximately $1,463,975.07. The trade was a 4.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible 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 Tuesday, July 14th, Kate Dehoff sold 14,240 shares of Joby Aviation stock. The stock was sold at an average price of $7.73, for a total transaction of $110,075.20.
• 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

NYSE JOBY opened at $7.89 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. Joby Aviation, Inc. has a 52-week low of $7.43 and a 52-week high of $20.95. The business’s 50-day moving average price is $9.82 and its 200 day moving average price is $10.46. The firm has a market cap of $7.77 billion, a P/E ratio of -6.87 and a beta of 2.71.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.12) 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 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 business earned ($0.11) EPS. On average, equities research analysts expect that Joby Aviation, Inc. will post -0.83 earnings per share for the current year.

Joby Aviation News Roundup

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

• Positive Sentiment: Joby said its eVTOL aircraft passed an adverse-weather test and successfully simulated a propeller failure, reinforcing confidence in the safety and reliability of its air taxi platform. Joby’s eVTOL passes adverse weather test, simulates propeller failure
• Positive Sentiment: The company also highlighted testing that suggests its air taxi could complete a JFK-to-Manhattan trip in about seven minutes, a headline-grabbing milestone that underscores the potential speed advantage of Joby’s service model. Joby’s air taxi aces test, promises 7-minute JFK to Manhattan flights
• Neutral Sentiment: A market commentary piece argued that Joby is making visible progress, but investors still have to balance that progress against a long and expensive path to commercialization. JOBY Stock: Flying High or Overpriced Sci-Fi?
• Negative Sentiment: Insider selling by Eric Allison and Kate Dehoff may weigh on sentiment, even though the transactions were linked to tax withholding from equity vesting and, in one case, a pre-arranged trading plan. The sales reduced their ownership stakes and can still be viewed as a mild overhang for the stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on JOBY. Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 price target on shares of Joby Aviation in a report on Wednesday, May 6th. Morgan Stanley dropped 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. Weiss Ratings downgraded shares of Joby Aviation from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, May 4th. Canaccord Genuity Group reduced their target price on shares of Joby Aviation from $15.50 to $11.50 and set a “hold” rating for the company in a research note on Thursday, May 7th. Finally, Wall Street Zen raised shares of Joby Aviation from a “strong sell” rating to a “sell” rating in a report on Sunday, May 10th. Two research 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. According to MarketBeat, Joby Aviation presently has a consensus rating of “Reduce” and a consensus target price of $13.64.

Institutional Trading of Joby Aviation

A number of institutional investors have recently modified their holdings of JOBY. Handelsbanken Fonder AB raised its position in Joby Aviation by 43.6% in the second quarter. Handelsbanken Fonder AB now owns 217,426 shares of the company’s stock worth $1,939,000 after acquiring an additional 66,000 shares in the last quarter. 180 Wealth Advisors LLC boosted its position in shares of Joby Aviation by 13.5% during the 2nd quarter. 180 Wealth Advisors LLC now owns 62,729 shares of the company’s stock worth $560,000 after purchasing an additional 7,447 shares in the last quarter. CoreCap Advisors LLC boosted its position in shares of Joby Aviation by 408.1% during the 2nd quarter. CoreCap Advisors LLC now owns 8,292 shares of the company’s stock worth $74,000 after purchasing an additional 6,660 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new position in shares of Joby Aviation during the 1st quarter worth $131,000. Finally, J. Derek Lewis & Associates Inc. acquired a new position in shares of Joby Aviation during the 1st quarter worth $121,000. 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.