Insider Selling: Joby Aviation (NYSE:JOBY) Insider Sells 8,194 Shares of Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Kate Dehoff sold 8,194 shares of the stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $10.48, for a total value of $85,873.12. Following the completion of the sale, the insider directly owned 163,722 shares of the company’s stock, valued at approximately $1,715,806.56. This trade represents a 4.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Kate Dehoff also recently made the following trade(s):

• On Wednesday, January 14th, Kate Dehoff sold 28,260 shares of Joby Aviation stock. The stock was sold at an average price of $14.72, for a total value of $415,987.20.
• On Tuesday, January 13th, Kate Dehoff sold 7,092 shares of Joby Aviation stock. The shares were sold at an average price of $14.84, for a total value of $105,245.28.
• On Friday, January 2nd, Kate Dehoff sold 10,484 shares of Joby Aviation stock. The stock was sold at an average price of $13.51, for a total transaction of $141,638.84.

Joby Aviation Price Performance

Shares of NYSE JOBY traded up $0.14 during trading on Tuesday, hitting $10.70. The stock had a trading volume of 45,004,465 shares, compared to its average volume of 33,108,648. The firm has a fifty day moving average of $14.28 and a two-hundred day moving average of $15.32. The company has a market capitalization of $9.75 billion, a PE ratio of -7.98 and a beta of 2.56. Joby Aviation, Inc. has a 12 month low of $4.96 and a 12 month high of $20.95.

Joby Aviation (NYSE:JOBY) last released its quarterly earnings results on Wednesday, November 5th. The company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.29). The company had revenue of $22.57 million for the quarter, compared to analyst estimates of $0.02 million. During the same quarter in the previous year, the business posted ($0.21) EPS. The business’s revenue was up 7962.1% compared to the same quarter last year. On average, equities analysts expect that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on the company. JPMorgan Chase & Co. boosted their price objective on Joby Aviation from $7.00 to $8.00 and gave the stock an “underweight” rating in a research report on Friday, October 31st. Zacks Research upgraded shares of Joby Aviation from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 4th. Needham & Company LLC restated a “buy” rating and set a $22.00 price objective on shares of Joby Aviation in a report on Thursday, November 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Joby Aviation in a research note on Thursday, January 22nd. Finally, Canaccord Genuity Group reissued a “hold” rating on shares of Joby Aviation in a research report on Tuesday. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $13.43.

Institutional Trading of Joby Aviation

Hedge funds and other institutional investors have recently modified their holdings of the business. Toyota Motor Corp boosted its holdings in Joby Aviation by 63.1% in the 2nd quarter. Toyota Motor Corp now owns 128,454,401 shares of the company’s stock worth $1,355,194,000 after buying an additional 49,701,790 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Joby Aviation by 5.1% in the fourth quarter. Vanguard Group Inc. now owns 52,488,707 shares of the company’s stock worth $692,851,000 after acquiring an additional 2,540,382 shares during the period. Geode Capital Management LLC grew its position in shares of Joby Aviation by 5.4% in the second quarter. Geode Capital Management LLC now owns 11,109,935 shares of the company’s stock valued at $117,230,000 after purchasing an additional 573,328 shares in the last quarter. State Street Corp grew its position in shares of Joby Aviation by 3.0% in the second quarter. State Street Corp now owns 10,392,018 shares of the company’s stock valued at $109,636,000 after purchasing an additional 305,109 shares in the last quarter. Finally, Rheos Capital Works Inc. raised its stake in shares of Joby Aviation by 58.2% during the 2nd quarter. Rheos Capital Works Inc. now owns 7,205,000 shares of the company’s stock valued at $76,013,000 after purchasing an additional 2,650,000 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.