Joby Aviation (NYSE:JOBY) Trading Down 1.7% Following Insider Selling

Joby Aviation, Inc. (NYSE:JOBY) shares were down 1.7% during trading on Wednesday after an insider sold shares in the company. The stock traded as low as $7.63 and last traded at $7.7550. Approximately 53,497,507 shares were traded during trading, an increase of 72% from the average session volume of 31,043,316 shares. The stock had previously closed at $7.89.

Specifically, insider Kate Dehoff sold 14,240 shares of the company’s stock in a transaction on Tuesday, July 14th. The stock was sold at an average price of $7.73, for a total value of $110,075.20. Following the completion of the transaction, the insider directly owned 180,179 shares in the company, valued at approximately $1,392,783.67. This represents a 7.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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. Also, insider Kate Dehoff sold 8,381 shares of the firm’s stock in a transaction on Monday, July 13th. The stock was sold at an average price of $7.53, for a total value of $63,108.93. Following the completion of the transaction, the insider directly owned 194,419 shares of the company’s stock, valued at approximately $1,463,975.07. This trade represents a 4.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. In other Joby Aviation news, insider Eric Allison sold 27,932 shares of the business’s stock in a transaction on Monday, July 13th. The shares were sold at an average price of $7.53, for a total value of $210,327.96. Following the sale, the insider owned 710,396 shares of the company’s stock, valued at $5,349,281.88. The trade was a 3.78% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on JOBY. Morgan Stanley decreased their target price on shares of Joby Aviation from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 6th. Canaccord Genuity Group cut their price target 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. Wall Street Zen raised Joby Aviation from a “strong sell” rating to a “sell” rating in a report on Sunday, May 10th. Weiss Ratings lowered Joby Aviation from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 4th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $18.00 target price on shares of Joby Aviation in a report on Wednesday, May 6th. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $13.64.

Key Joby Aviation News

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

• Positive Sentiment: Joby reported encouraging certification progress after its eVTOL aircraft completed an adverse-weather test and successfully simulated a propeller failure, helping reinforce confidence in the safety and reliability of the platform. Joby’s eVTOL passes adverse weather test, simulates propeller failure
• Positive Sentiment: The company also highlighted testing that suggests a JFK-to-Manhattan trip could take about seven minutes, a high-profile milestone that supports the long-term commercial potential of Joby’s air taxi service. Joby’s air taxi aces test, promises 7-minute JFK to Manhattan flights
• Neutral Sentiment: Recent commentary noted that Joby’s visible technical progress is being balanced against a still-long and expensive path to full commercialization, keeping investor expectations in check. JOBY Stock: Flying High or Overpriced Sci-Fi?
• Negative Sentiment: Insider sales by senior executives Eric Allison and Kate Dehoff may be weighing on sentiment, even though the trades were tied to tax withholding from equity awards and one was made under a pre-arranged 10b5-1 plan. The reductions in ownership still create a mild overhang for the stock.

Joby Aviation Stock Down 1.7%

The firm has a market cap of $7.63 billion, a price-to-earnings ratio of -6.74 and a beta of 2.71. 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 business’s 50-day moving average is $9.82 and its 200-day moving average is $10.46.

Joby Aviation (NYSE:JOBY) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.12) EPS 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 for the quarter, compared to analyst estimates of $20.17 million. During the same period in the previous year, the business earned ($0.11) earnings per share. On average, equities analysts predict that Joby Aviation, Inc. will post -0.83 EPS for the current year.

Institutional Investors Weigh In On Joby Aviation

A number of large investors have recently bought and sold shares of JOBY. Fifth Third Bancorp boosted its stake in Joby Aviation by 207.4% in the fourth quarter. Fifth Third Bancorp now owns 1,998 shares of the company’s stock worth $26,000 after purchasing an additional 1,348 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Joby Aviation by 284.8% in the second quarter. EverSource Wealth Advisors LLC now owns 2,540 shares of the company’s stock valued at $27,000 after buying an additional 1,880 shares during the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in shares of Joby Aviation in the fourth quarter valued at about $28,000. Strategic Advocates LLC acquired a new position in Joby Aviation during the 3rd quarter worth about $29,000. Finally, Pandora Wealth Inc. bought a new stake in Joby Aviation during the 4th quarter worth about $32,000. 52.85% of the stock is currently owned by 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.