Joby Aviation (NYSE:JOBY) CEO Joeben Bevirt Sells 421,019 Shares

Joby Aviation, Inc. (NYSE:JOBY) CEO Joeben Bevirt sold 421,019 shares of the company’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $10.38, for a total transaction of $4,370,177.22. Following the completion of the transaction, the chief executive officer directly owned 31,678,802 shares of the company’s stock, valued at approximately $328,825,964.76. The trade was a 1.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Joeben Bevirt also recently made the following trade(s):

• On Wednesday, April 15th, Joeben Bevirt sold 421,018 shares of Joby Aviation stock. The stock was sold at an average price of $9.03, for a total transaction of $3,801,792.54.
• On Wednesday, April 15th, Joeben Bevirt sold 39,963 shares of Joby Aviation stock. The stock was sold at an average price of $9.03, for a total transaction of $360,865.89.
• On Wednesday, April 8th, Joeben Bevirt sold 986 shares of Joby Aviation stock. The stock was sold at an average price of $8.87, for a total transaction of $8,745.82.
• On Thursday, April 2nd, Joeben Bevirt sold 15,823 shares of Joby Aviation stock. The stock was sold at an average price of $8.15, for a total transaction of $128,957.45.
• On Tuesday, March 10th, Joeben Bevirt sold 3,238 shares of Joby Aviation stock. The stock was sold at an average price of $10.25, for a total transaction of $33,189.50.
• On Tuesday, February 17th, Joeben Bevirt sold 507,182 shares of Joby Aviation stock. The stock was sold at an average price of $9.91, for a total transaction of $5,026,173.62.
• On Tuesday, February 17th, Joeben Bevirt sold 63,636 shares of Joby Aviation stock. The stock was sold at an average price of $9.91, for a total transaction of $630,632.76.

Joby Aviation Trading Down 2.6%

Joby Aviation stock opened at $10.37 on Friday. The firm has a 50-day moving average of $9.26 and a 200-day moving average of $12.00. Joby Aviation, Inc. has a one year low of $6.42 and a one year high of $20.95. The company has a debt-to-equity ratio of 0.36, a current ratio of 22.06 and a quick ratio of 22.05. The company has a market cap of $10.20 billion, a price-to-earnings ratio of -9.01 and a beta of 2.61.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.09. The company had revenue of $24.25 million during the quarter, compared to the consensus estimate 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 in the prior year, the business posted ($0.11) EPS. On average, equities analysts expect that Joby Aviation, Inc. will post -0.83 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on JOBY shares. Wall Street Zen raised shares of Joby Aviation from a “strong sell” rating to a “sell” rating in a report on Sunday, May 10th. Oppenheimer set a $18.00 target price on shares of Joby Aviation in a report on Thursday, February 26th. Weiss Ratings cut shares of Joby Aviation from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, May 4th. Needham & Company LLC reaffirmed a “buy” rating and issued a $18.00 target price on shares of Joby Aviation in a report on Wednesday, May 6th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $18.00 target price on shares of Joby Aviation in a report on Thursday, March 12th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $13.06.

Key Joby Aviation News

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

• Positive Sentiment: Joby continues to attract attention as a leading eVTOL name, with recent coverage highlighting its potential to benefit from the growth of advanced air mobility and comparisons that frame it as one of the stronger players in the sector.
• Neutral Sentiment: News that Joby is planning New York eVTOL demonstrations and discussing progress under the FAA’s eIPP suggests the company is still pushing regulatory and public-awareness efforts that could support long-term adoption, but these developments are not immediate revenue catalysts. Article Title Article Title
• Negative Sentiment: CEO Joeben Bevirt sold 421,019 shares in a pre-arranged 10b5-1 transaction, a move that can weigh on sentiment even though it was disclosed as part of a planned trading arrangement. Article Title
• Negative Sentiment: Some recent commentary compares Joby with Archer and suggests the competition in the eVTOL race is still highly uncertain, reinforcing concerns that execution and regulatory timing will be key to future upside. Article Title

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of JOBY. Vanguard Group Inc. raised its holdings in Joby Aviation by 13.2% in the 3rd quarter. Vanguard Group Inc. now owns 49,948,325 shares of the company’s stock valued at $806,166,000 after acquiring an additional 5,828,189 shares during the period. Renaissance Technologies LLC raised its holdings in Joby Aviation by 194.5% in the 1st quarter. Renaissance Technologies LLC now owns 4,005,200 shares of the company’s stock valued at $33,083,000 after acquiring an additional 2,645,200 shares during the period. Man Group plc bought a new position in Joby Aviation in the 3rd quarter valued at about $40,283,000. Norges Bank bought a new position in Joby Aviation in the 4th quarter valued at about $32,269,000. Finally, Clear Street Group Inc. bought a new position in Joby Aviation in the 3rd quarter valued at about $36,264,000. 52.85% of the stock is 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.