Key Points
- Insider sale: Joby Aviation insider Eric Allison sold 9,330 shares on July 2 at an average price of $8.92, totaling about $83,224. The filing says the sale was made to cover tax withholding tied to vested equity awards.
- Recent insider activity: Allison has also sold larger blocks of Joby shares in recent months, including 74,844 shares in May and 27,698 shares in April. The article notes these transactions were largely routine and tax-related rather than a change in conviction.
- Business and stock backdrop: Joby reported better-than-expected quarterly results, with EPS of -$0.12 versus estimates of -$0.21 and revenue of $24.25 million. Analysts currently have a consensus rating of Reduce with an average price target of $13.64, while investors remain focused on potential commercial air taxi approvals.
Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) CFO Rodrigo Brumana sold 2,601 shares of the business's stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $8.92, for a total value of $23,200.92. Following the completion of the sale, the chief financial officer directly owned 84,139 shares in the company, valued at $750,519.88. This trade represents a 3.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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, June 4th, Rodrigo Brumana sold 78,489 shares of Joby Aviation stock. The shares were sold at an average price of $11.30, for a total value of $886,925.70.
- On Wednesday, April 8th, Rodrigo Brumana sold 566 shares of Joby Aviation stock. The stock was sold at an average price of $8.87, for a total value of $5,020.42.
Joby Aviation Stock Down 7.0%
Joby Aviation stock traded down $0.62 during mid-day trading on Tuesday, reaching $8.30. The stock had a trading volume of 2,624,360 shares, compared to its average volume of 30,207,402. Joby Aviation, Inc. has a one year low of $7.75 and a one year high of $20.95. The company has a 50-day moving average price of $9.94 and a two-hundred day moving average price of $10.73. The company has a market capitalization of $8.16 billion, a price-to-earnings ratio of -7.23 and a beta of 2.71. The company has a debt-to-equity ratio of 0.36, a current ratio of 22.06 and a quick ratio of 22.05.
Joby Aviation (NYSE:JOBY - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $24.25 million during 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 period last year, the business earned ($0.11) EPS. On average, analysts expect that Joby Aviation, Inc. will post -0.83 EPS for the current fiscal year.
Analyst Ratings Changes
JOBY has been the topic of several recent analyst reports. Morgan Stanley cut their target price on 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 Joby Aviation from a "sell (d-)" rating to a "sell (e+)" rating in a report on Monday, May 4th. Canaccord Genuity Group dropped their price objective on Joby Aviation from $15.50 to $11.50 and set a "hold" rating on the stock in a research report on Thursday, May 7th. Needham & Company LLC reiterated a "buy" rating and issued a $18.00 price objective on shares of Joby Aviation in a report on Wednesday, May 6th. Finally, HC Wainwright reissued a "buy" rating and issued a $18.00 target price on shares of Joby Aviation in a research report on Thursday, March 12th. Two investment 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, Joby Aviation has an average rating of "Reduce" and an average price target of $13.64.
Read Our Latest Report on JOBY
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the company. Royal Bank of Canada boosted its holdings in Joby Aviation by 110.5% in the 1st quarter. Royal Bank of Canada now owns 85,070 shares of the company's stock worth $512,000 after buying an additional 44,659 shares during the period. AQR Capital Management LLC purchased a new position in shares of Joby Aviation in the first quarter valued at about $273,000. Strs Ohio bought a new position in shares of Joby Aviation in the first quarter worth about $37,000. Cetera Investment Advisers boosted its stake in shares of Joby Aviation by 16.0% in the second quarter. Cetera Investment Advisers now owns 64,069 shares of the company's stock worth $676,000 after acquiring an additional 8,840 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of Joby Aviation by 80.1% during the second quarter. JPMorgan Chase & Co. now owns 750,733 shares of the company's stock worth $7,920,000 after purchasing an additional 333,995 shares in the last quarter. Hedge funds and other institutional investors own 52.85% of the company's stock.
Key Headlines Impacting Joby Aviation
Here are the key news stories impacting Joby Aviation this week:
- Positive Sentiment: Investors are buying into the possibility that Joby could start commercial air taxi operations this year, a major milestone that would validate the business model and potentially unlock new revenue streams. Joby Aviation Stock: Is It More Likely to Hit $15 or $5 This Year?
- Positive Sentiment: Recent coverage says Joby’s air taxi expansion is fueling investor excitement, helping push sentiment higher around the company’s long-term growth potential. Why Joby Aviation Stock Popped Today
- Positive Sentiment: Another article highlighted that Joby’s valuation is getting an additional boost, suggesting traders are still focused on future commercialization rather than current losses. Why Joby Aviation Stock Is Surging Today
- Neutral Sentiment: Several insiders, including CEO Joeben Bevirt and other executives, sold shares, but the filings say the sales were mainly to cover tax withholding tied to vesting equity awards rather than a change in conviction. SEC filing
- Neutral Sentiment: More insider sales were disclosed from Didier Papadopoulos, Eric Allison, Kate Dehoff, Rodrigo Brumana, Gregory Bowles, and Bonny W. Simi, including a Rule 10b5-1 sale, but the transactions were largely routine and tax-related. SEC filing
- Negative Sentiment: The biggest risk remains that Joby’s aircraft is not approved yet, so the stock could give back gains if regulatory progress takes longer than bulls expect. Article
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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