Joby Aviation (NYSE:JOBY) CFO Sells $15,475.95 in Stock

Joby Aviation, Inc. (NYSE:JOBY) CFO Rodrigo Brumana sold 2,601 shares of the business’s stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $5.95, for a total transaction of $15,475.95. Following the completion of the sale, the chief financial officer directly owned 113,275 shares of the company’s stock, valued at approximately $673,986.25. The trade was a 2.24% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Rodrigo Brumana also recently made the following trade(s):

• On Thursday, September 3rd, Rodrigo Brumana sold 8,898 shares of Joby Aviation stock. The stock was sold at an average price of $6.89, for a total transaction of $61,307.22.
• On Wednesday, September 2nd, Rodrigo Brumana sold 37,831 shares of Joby Aviation stock. The shares were sold at an average price of $6.77, for a total transaction of $256,115.87.

Joby Aviation Stock Down 0.4%

Shares of NYSE JOBY opened at $5.75 on Thursday. The firm has a market cap of $5.69 billion, a price-to-earnings ratio of -5.81 and a beta of 2.66. The company’s 50-day simple moving average is $6.93 and its 200-day simple moving average is $8.37. The company has a quick ratio of 17.98, a current ratio of 17.98 and a debt-to-equity ratio of 0.40. Joby Aviation, Inc. has a 52-week low of $5.58 and a 52-week high of $18.77.

Joby Aviation (NYSE:JOBY) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.02). The company had revenue of $38.64 million for the quarter, compared to analyst estimates of $30.20 million. Joby Aviation had a negative return on equity of 55.29% and a negative net margin of 755.11%.The firm’s revenue for the quarter was up 257493.3% on a year-over-year basis. During the same quarter last year, the company earned ($0.41) EPS. Equities analysts predict that Joby Aviation, Inc. will post -1 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

JOBY has been the subject of a number of research analyst reports. HC Wainwright reissued a “buy” rating and set a $18.00 target price on shares of Joby Aviation in a report on Monday, September 21st. Needham & Company LLC dropped their price target on Joby Aviation from $18.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Barclays raised Joby Aviation to a “hold” rating in a research note on Wednesday, July 29th. Wall Street Zen lowered Joby Aviation from a “sell” rating to a “strong sell” rating in a report on Saturday, August 8th. Finally, Weiss Ratings raised shares of Joby Aviation from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, July 14th. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $13.81.

Key Headlines Impacting Joby Aviation

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

• Positive Sentiment: Joby’s flight operations are adopting BitRipple’s LT3 connectivity system, which combines satellite and cellular networks for real-time, flight-critical telemetry and monitoring. The deployment supports the reliability and operational infrastructure needed for advanced air mobility. BitRipple LT3 Deployed Across Joby Flight Operations
• Positive Sentiment: ARK Invest, led by Cathie Wood, continued to invest in Joby and other flying-taxi companies. The buying provides a favorable signal from a high-profile growth investor, although it does not change Joby’s near-term certification and cash-burn risks. Cathie Wood Bets Big on Flying Taxis
• Neutral Sentiment: A long-term investment analysis argues that JOBY could have substantial upside by 2029 if it secures regulatory approval, launches commercial flights and scales production. However, Joby remains a speculative, loss-making company with no commercial air-taxi service yet, so the projection is highly dependent on execution. Prediction: Here’s What a $5,000 Investment in Joby Aviation Will Be Worth in 3 Years
• Neutral Sentiment: Several insiders, including CEO JoeBen Bevirt, CFO Rodrigo Brumana, Gregory Bowles, Sergey Novikov, Bonny Simi, Kate Dehoff and others, reported share sales. Some transactions were conducted under Rule 10b5-1 plans or to cover tax withholding, limiting their significance, but the concentration of sales may weigh on investor sentiment.
• Negative Sentiment: The $116.9 million verdict is the dominant near-term overhang. It could reduce Joby’s cash runway, increase legal costs and distract management as the company works toward aircraft certification, manufacturing scale-up and commercial operations. Joby Aviation Hit With $116.9 Million Verdict in Trade Secrets Lawsuit

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC boosted its holdings in shares of Joby Aviation by 194.5% during the 1st quarter. Renaissance Technologies LLC now owns 4,005,200 shares of the company’s stock worth $33,083,000 after purchasing an additional 2,645,200 shares during the last quarter. Clear Street Group Inc. increased its holdings in shares of Joby Aviation by 59.9% in the fourth quarter. Clear Street Group Inc. now owns 3,593,043 shares of the company’s stock valued at $47,428,000 after purchasing an additional 1,346,205 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in Joby Aviation by 48.1% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,679,515 shares of the company’s stock worth $22,133,000 after buying an additional 870,244 shares in the last quarter. Amova Asset Management Americas Inc. lifted its position in Joby Aviation by 48.1% during the first quarter. Amova Asset Management Americas Inc. now owns 2,678,495 shares of the company’s stock worth $22,124,000 after buying an additional 870,244 shares in the last quarter. Finally, Norges Bank acquired a new position in Joby Aviation during the fourth quarter worth $32,269,000. 52.85% of the stock is owned by hedge funds and other institutional investors.

About Joby Aviation

Joby Aviation, Inc (NYSE: JOBY) is an aviation company developing all-electric vertical takeoff and landing (eVTOL) aircraft for commercial passenger transportation. Its aircraft are designed to take off and land vertically like a helicopter while providing quieter, lower-emission transportation for short urban and regional trips.

The company is pursuing an integrated air-taxi business model that includes designing and manufacturing its aircraft, operating passenger services, and developing the software and infrastructure needed to support aerial mobility.