Eric Allison Sells 27,932 Shares of Joby Aviation (NYSE:JOBY) Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Eric Allison sold 27,932 shares of Joby Aviation stock in a transaction that occurred on Monday, July 13th. The shares were sold at an average price of $7.53, for a total value of $210,327.96. Following the sale, the insider directly owned 710,396 shares in the company, valued at approximately $5,349,281.88. This trade represents a 3.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Eric Allison also recently made the following trade(s):

• On Thursday, July 2nd, Eric Allison sold 9,330 shares of Joby Aviation stock. The stock was sold at an average price of $8.92, for a total value of $83,223.60.
• On Wednesday, May 6th, Eric Allison sold 74,844 shares of Joby Aviation stock. The shares were sold at an average price of $10.00, for a total value of $748,440.00.

Joby Aviation Stock Down 1.7%

Shares of Joby Aviation stock opened at $7.75 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. Joby Aviation, Inc. has a 1-year low of $7.43 and a 1-year high of $20.95. The business’s fifty day moving average price is $9.76 and its two-hundred day moving average price is $10.42. The company has a market capitalization of $7.63 billion, a P/E ratio of -6.74 and a beta of 2.71.

Joby Aviation (NYSE:JOBY) last released its quarterly earnings results 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 company 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 quarter in the prior year, the business posted ($0.11) earnings per share. As a group, research analysts forecast 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: Joby advanced its eVTOL certification efforts by completing adverse-weather and propulsion-loss testing, reinforcing confidence in the safety and reliability of its aircraft as it moves toward commercialization. Joby’s eVTOL passes adverse weather test, simulates propeller failure
• Positive Sentiment: The company also highlighted testing that suggests its air taxi could make a JFK-to-Manhattan trip in about seven minutes, a high-profile 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: Recent commentary noted that Joby is making visible technical progress, but investors still have to weigh that against a long and capital-intensive path to commercial scale. JOBY Stock: Flying High or Overpriced Sci-Fi?
• Negative Sentiment: Insiders, including Eric Allison and Kate Dehoff, sold shares in recent filings. Although the sales were tied to tax withholding and Rule 10b5-1 plans, the reduced ownership can still weigh on near-term investor sentiment. Joby Aviation Insiders Sell JOBY Stock, but Tax-Related Trades Limit the Bearish Signal

Analyst Ratings Changes

A number of research firms have commented on JOBY. 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. Canaccord Genuity Group decreased their price objective on shares of Joby Aviation from $15.50 to $11.50 and set a “hold” rating for the company in a report on Thursday, May 7th. 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. Weiss Ratings raised Joby Aviation from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday. Finally, Needham & Company LLC restated a “buy” rating and issued a $18.00 target price on shares of Joby Aviation in a research report on Wednesday, May 6th. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have given 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 $13.64.

Institutional Investors Weigh In On Joby Aviation

A number of institutional investors and hedge funds have recently bought and sold shares of JOBY. Vanguard Group Inc. grew its stake in shares of Joby Aviation by 5.1% in 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 during the last quarter. Geode Capital Management LLC lifted its stake in Joby Aviation by 3.4% during the fourth 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 during the last quarter. State Street Corp lifted its stake in Joby Aviation by 5.0% during the fourth quarter. State Street Corp now owns 10,812,929 shares of the company’s stock valued at $142,731,000 after purchasing an additional 512,129 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Joby Aviation by 6.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,370,983 shares of the company’s stock worth $57,697,000 after buying an additional 271,475 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in 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 owned by institutional investors and hedge funds.

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.