Joby Aviation (NYSE:JOBY) Insider Sells $42,988.40 in Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Gregory Bowles sold 4,724 shares of Joby Aviation stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $9.10, for a total value of $42,988.40. Following the transaction, the insider owned 188,936 shares of the company’s stock, valued at $1,719,317.60. The trade was a 2.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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.

Gregory Bowles also recently made the following trade(s):

• On Thursday, July 2nd, Gregory Bowles sold 5,158 shares of Joby Aviation stock. The stock was sold at an average price of $8.92, for a total value of $46,009.36.
• On Tuesday, May 26th, Gregory Bowles sold 4,602 shares of Joby Aviation stock. The shares were sold at an average price of $11.47, for a total value of $52,784.94.
• On Friday, May 22nd, Gregory Bowles sold 3,486 shares of Joby Aviation stock. The shares were sold at an average price of $10.74, for a total value of $37,439.64.
• On Wednesday, April 8th, Gregory Bowles sold 357 shares of Joby Aviation stock. The stock was sold at an average price of $8.87, for a total value of $3,166.59.

Joby Aviation Price Performance

Shares of NYSE JOBY opened at $7.93 on Thursday. 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 stock has a market capitalization of $7.81 billion, a price-to-earnings ratio of -6.90 and a beta of 2.71. The firm’s 50 day simple moving average is $9.91 and its 200-day simple moving average is $10.65. Joby Aviation, Inc. has a 12 month low of $7.75 and a 12 month high of $20.95.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.09. The firm had revenue of $24.25 million for 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 firm posted ($0.11) earnings per share. Analysts expect that Joby Aviation, Inc. will post -0.83 EPS for the current year.

Key Stories Impacting Joby Aviation

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

• Positive Sentiment: Investors are still focused on the upside if Joby can launch commercial air taxi service by 2030 or even sooner, since that would validate its eVTOL model and could open a major new revenue stream. Prediction: Can Joby Aviation Stock Soar 500% by 2030?
• Positive Sentiment: Recent coverage continues to highlight the possibility that Joby could begin commercial air taxi operations this year, which keeps speculative buying interest alive. Joby Aviation Stock: Is It More Likely to Hit $15 or $5 This Year?
• Neutral Sentiment: Toyota’s ongoing partnership work with Joby Aviation keeps a strategic industry name attached to the company, reinforcing its long-term commercialization story. Toyota Motor (TSE:7203) Extends Lexus MSG Partnership, Is It Fully Priced?
• Neutral Sentiment: Multiple insider sales were disclosed from executives including the CEO and CFO, but the filings indicate many of the transactions were related to tax withholding or routine sales tied to vesting awards. Joby Aviation (NYSE:JOBY) CFO Rodrigo Brumana Sells 2,601 Shares
• Negative Sentiment: The stock is being weighed down by concerns that Joby’s aircraft is not yet approved for commercial use, so any delay in regulatory progress could pressure the shares further. Joby Aviation stock tests $8 support zone: What’s driving the air taxi pullback?
• Negative Sentiment: Recent insider selling from several top executives may be adding to investor caution, even if the sales were largely prearranged or tax-related. Joby Aviation (NYSE:JOBY) CEO Joeben Bevirt Sells 15,788 Shares

Analysts Set New Price Targets

A number of research firms have recently commented on JOBY. Morgan Stanley dropped their target price on Joby Aviation from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 6th. HC Wainwright reiterated a “buy” rating and set a $18.00 price target on shares of Joby Aviation in a research report on Thursday, March 12th. 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 report on Thursday, May 7th. Wall Street Zen upgraded Joby Aviation from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 10th. Finally, Weiss Ratings downgraded Joby Aviation from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 4th. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, Joby Aviation presently has a consensus rating of “Reduce” and a consensus target price of $13.64.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC boosted 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 worth $33,083,000 after buying an additional 2,645,200 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Joby Aviation by 5.1% during the fourth quarter. Vanguard Group Inc. now owns 52,488,707 shares of the company’s stock valued at $692,851,000 after acquiring an additional 2,540,382 shares during the last quarter. Man Group plc purchased a new position in shares of Joby Aviation in the third quarter valued at approximately $40,283,000. Norges Bank purchased a new position in shares of Joby Aviation in the fourth quarter valued at approximately $32,269,000. Finally, Clear Street Group Inc. acquired a new stake in shares of Joby Aviation in the third quarter worth approximately $36,264,000. Institutional investors and hedge funds own 52.85% of the company’s stock.

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.