Key Points
- Joby Aviation insider Eric Allison sold 27,932 shares on July 13 at an average price of $7.53, totaling about $210,328. The company said the sale was to cover tax withholding tied to vesting equity awards, and Allison still held 710,396 shares afterward.
- This was part of a broader pattern of insider selling, as Allison also sold shares on July 2 and May 6 in separate transactions. The recent sales trimmed his position, which may slightly weigh on investor sentiment.
- Joby’s stock remains under pressure despite operational progress, with shares trading near $7.89, close to the 52-week low of $7.43. Analysts currently have a mixed view, with an average rating of “Reduce” and an average price target of $13.64.
Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) insider Kate Dehoff sold 8,381 shares of the stock in a transaction dated Monday, July 13th. The shares were sold at an average price of $7.53, for a total transaction 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 sale was disclosed in a filing with the SEC, which can be accessed 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 value 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 value of $85,409.00.
Joby Aviation Stock Performance
JOBY opened at $7.89 on Wednesday. Joby Aviation, Inc. has a 1-year low of $7.43 and a 1-year high of $20.95. The stock has a market cap of $7.77 billion, a P/E ratio of -6.87 and a beta of 2.71. The stock's 50 day simple moving average is $9.82 and its 200 day simple moving average is $10.46. 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 issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.09. The firm had revenue of $24.25 million during the quarter, compared to analysts' expectations of $20.17 million. Joby Aviation had a negative return on equity of 60.54% and a negative net margin of 1,232.62%.During the same period in the previous year, the firm posted ($0.11) earnings per share. As a group, equities analysts anticipate that Joby Aviation, Inc. will post -0.83 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
JOBY has been the topic of a number of research reports. Morgan Stanley lowered 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. Canaccord Genuity Group cut 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 report on Thursday, May 7th. Weiss Ratings downgraded shares of Joby Aviation from a "sell (d-)" rating to a "sell (e+)" rating in a report on Monday, May 4th. Needham & Company LLC reiterated a "buy" rating and issued a $18.00 price target on shares of Joby Aviation in a research report on Wednesday, May 6th. Finally, Wall Street Zen raised shares of Joby Aviation from a "strong sell" rating to a "sell" rating in a research note on Sunday, May 10th. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Reduce" and an average price target of $13.64.
Read Our Latest Report on JOBY
Institutional Trading of Joby Aviation
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in Joby Aviation by 5.1% during the 4th quarter. Vanguard Group Inc. now owns 52,488,707 shares of the company's stock worth $692,851,000 after purchasing an additional 2,540,382 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Joby Aviation by 3.4% in the 4th quarter. Geode Capital Management LLC now owns 11,790,532 shares of the company's stock valued at $155,671,000 after purchasing an additional 390,794 shares in the last quarter. State Street Corp boosted its stake in shares of Joby Aviation by 5.0% during the 4th quarter. State Street Corp now owns 10,812,929 shares of the company's stock worth $142,731,000 after purchasing an additional 512,129 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Joby Aviation by 6.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,370,983 shares of the company's stock worth $57,697,000 after purchasing an additional 271,475 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of Joby Aviation by 41.2% during the third quarter. Bank of America Corp DE now owns 4,192,109 shares of the company's stock worth $67,661,000 after buying an additional 1,223,412 shares in the last quarter. 52.85% of the stock is currently owned by hedge funds and other institutional investors.
Joby Aviation News Summary
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.
About Joby Aviation
(
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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