Joby Aviation (NYSE:JOBY) Insider Didier Papadopoulos Sells 1,975 Shares

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) insider Didier Papadopoulos sold 1,975 shares of the firm's stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $9.42, for a total value of $18,604.50. Following the transaction, the insider owned 148,455 shares in the company, valued at $1,398,446.10. This trade represents a 1.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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.

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Didier Papadopoulos also recently made the following trade(s):

• On Monday, June 15th, Didier Papadopoulos sold 5,999 shares of Joby Aviation stock. The stock was sold at an average price of $9.83, for a total transaction of $58,970.17.
• On Thursday, April 9th, Didier Papadopoulos sold 271 shares of Joby Aviation stock. The stock was 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 transaction of $29,731.44.
• On Thursday, April 2nd, Didier Papadopoulos sold 12,965 shares of Joby Aviation stock. The shares were sold at an average price of $8.15, for a total value of $105,664.75.

Joby Aviation Trading Down 3.5%

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Shares of Joby Aviation stock opened at $9.33 on Wednesday. The business has a fifty day simple moving average of $9.84 and a 200-day simple moving average of $11.28. Joby Aviation, Inc. has a fifty-two week low of $7.75 and a fifty-two week high of $20.95. The firm has a market cap of $9.18 billion, a price-to-earnings ratio of -8.11 and a beta of 2.66. The company has a quick ratio of 22.05, a current ratio of 22.06 and a debt-to-equity ratio of 0.36.

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Joby Aviation (NYSE:JOBY - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.21) by $0.09. The business had revenue of $24.25 million for the quarter, compared to analyst estimates of $20.17 million. Joby Aviation had a negative net margin of 1,232.62% and a negative return on equity of 60.54%. During the same quarter in the previous year, the business earned ($0.11) earnings per share. On average, equities analysts forecast that Joby Aviation, Inc. will post -0.83 EPS for the current fiscal year.

Key Headlines Impacting Joby Aviation

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

Institutional Investors Weigh In On Joby Aviation

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A number of institutional investors and hedge funds have recently made changes to their positions in the company. Royal Bank of Canada boosted its stake in shares of Joby Aviation by 110.5% in the 1st quarter. Royal Bank of Canada now owns 85,070 shares of the company's stock valued at $512,000 after purchasing an additional 44,659 shares during the last quarter. AQR Capital Management LLC acquired a new position in Joby Aviation in the first quarter valued at approximately $273,000. Strs Ohio acquired a new stake in Joby Aviation during the 1st quarter worth $37,000. Cetera Investment Advisers lifted its stake in shares of Joby Aviation by 16.0% in the 2nd quarter. Cetera Investment Advisers now owns 64,069 shares of the company's stock valued at $676,000 after purchasing an additional 8,840 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in Joby Aviation by 80.1% in the second quarter. JPMorgan Chase & Co. now owns 750,733 shares of the company's stock valued at $7,920,000 after purchasing an additional 333,995 shares during the last quarter. Institutional investors own 52.85% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on JOBY shares. Morgan Stanley reduced 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. HC Wainwright restated a "buy" rating and issued a $18.00 price objective on shares of Joby Aviation in a research note on Thursday, March 12th. Weiss Ratings downgraded shares of Joby Aviation from a "sell (d-)" rating to a "sell (e+)" rating in a report on Monday, May 4th. 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, JPMorgan Chase & Co. lowered their target price on shares of Joby Aviation from $8.00 to $7.00 and set an "underweight" rating on the stock in a research note on Thursday, February 26th. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Joby Aviation has an average rating of "Reduce" and an average price target of $13.06.

Read Our Latest Analysis on JOBY

Joby Aviation Company Profile

(Get Free Report)

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.

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