Insider Selling: Joby Aviation (NYSE:JOBY) CFO Sells $61,307.22 in Stock

Joby Aviation, Inc. (NYSE:JOBY) CFO Rodrigo Brumana sold 8,898 shares of the firm’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $6.89, for a total transaction of $61,307.22. Following the sale, the chief financial officer directly owned 110,831 shares of the company’s stock, valued at $763,625.59. The trade was a 7.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible 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.

Rodrigo Brumana also recently made the following trade(s):

• On Wednesday, September 2nd, Rodrigo Brumana sold 37,831 shares of Joby Aviation stock. The shares were sold at an average price of $6.77, for a total transaction of $256,115.87.
• On Thursday, July 2nd, Rodrigo Brumana sold 2,601 shares of Joby Aviation stock. The shares were sold at an average price of $8.92, for a total transaction of $23,200.92.

Joby Aviation Stock Up 0.7%

JOBY stock traded up $0.05 during mid-day trading on Thursday, hitting $6.87. 29,530,435 shares of the company were exchanged, compared to its average volume of 32,078,582. The company has a market capitalization of $6.80 billion, a PE ratio of -6.94 and a beta of 2.68. The company has a current ratio of 17.98, a quick ratio of 17.98 and a debt-to-equity ratio of 0.40. Joby Aviation, Inc. has a twelve month low of $6.61 and a twelve month high of $19.98. The firm has a fifty day simple moving average of $7.77 and a 200 day simple moving average of $9.01.

Joby Aviation (NYSE:JOBY) last issued its earnings results on Wednesday, August 5th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.02). Joby Aviation had a negative net margin of 755.11% and a negative return on equity of 55.29%. The company had revenue of $38.64 million during the quarter, compared to analyst estimates of $30.20 million. During the same quarter last year, the company posted ($0.41) EPS. The business’s revenue for the quarter was up 257493.3% compared to the same quarter last year. On average, research analysts forecast that Joby Aviation, Inc. will post -1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Morgan Stanley decreased their price objective on shares of Joby Aviation from $15.00 to $13.00 and set an “equal weight” rating for the company in a report on Wednesday, May 6th. Susquehanna set a $18.00 target price on Joby Aviation in a research note on Thursday, August 6th. Weiss Ratings raised shares of Joby Aviation from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 14th. Canaccord Genuity Group lowered their price target 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. Finally, Wall Street Zen cut shares of Joby Aviation from a “sell” rating to a “strong sell” rating in a report on Saturday, August 8th. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $13.81.

Institutional Trading of Joby Aviation

Hedge funds have recently added to or reduced their stakes in the business. EP Wealth Advisors LLC boosted its position in Joby Aviation by 2.2% during the 2nd quarter. EP Wealth Advisors LLC now owns 38,228 shares of the company’s stock worth $403,000 after acquiring an additional 821 shares during the period. CIBC Private Wealth Group LLC raised its stake in shares of Joby Aviation by 38.7% during the fourth quarter. CIBC Private Wealth Group LLC now owns 4,256 shares of the company’s stock valued at $56,000 after purchasing an additional 1,188 shares in the last quarter. Strs Ohio raised its stake in shares of Joby Aviation by 2.5% during the first quarter. Strs Ohio now owns 50,000 shares of the company’s stock valued at $413,000 after purchasing an additional 1,200 shares in the last quarter. Scotia Capital Inc. lifted its holdings in Joby Aviation by 8.1% in the third quarter. Scotia Capital Inc. now owns 16,663 shares of the company’s stock worth $269,000 after purchasing an additional 1,250 shares during the period. Finally, Parallel Advisors LLC lifted its holdings in Joby Aviation by 23.3% in the third quarter. Parallel Advisors LLC now owns 6,845 shares of the company’s stock worth $110,000 after purchasing an additional 1,295 shares during the period. Institutional investors 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.