Joby Aviation (NYSE:JOBY) Insider Sells $58,970.17 in Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Didier Papadopoulos sold 5,999 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $9.83, for a total value of $58,970.17. Following the completion of the sale, the insider directly owned 150,430 shares in the company, valued at approximately $1,478,726.90. This represents a 3.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.

Didier Papadopoulos also recently made the following trade(s):

• On Tuesday, June 16th, Didier Papadopoulos sold 1,975 shares of Joby Aviation stock. The stock was sold at an average price of $9.42, for a total value of $18,604.50.
• On Thursday, April 9th, Didier Papadopoulos sold 271 shares of Joby Aviation stock. The shares were sold at an average price of $8.47, for a total value of $2,295.37.
• On Wednesday, April 8th, Didier Papadopoulos sold 826 shares of Joby Aviation stock. The shares were sold at an average price of $8.87, for a total value of $7,326.62.
• On Monday, April 6th, Didier Papadopoulos sold 3,394 shares of Joby Aviation stock. The shares were sold at an average price of $8.76, for a total value of $29,731.44.
• On Thursday, April 2nd, Didier Papadopoulos sold 12,965 shares of Joby Aviation stock. The stock was sold at an average price of $8.15, for a total value of $105,664.75.

Joby Aviation Trading Up 6.5%

NYSE JOBY opened at $10.00 on Friday. Joby Aviation, Inc. has a 12 month low of $7.75 and a 12 month high of $20.95. The company has a current ratio of 22.06, a quick ratio of 22.05 and a debt-to-equity ratio of 0.36. The stock’s fifty day moving average price is $9.89 and its 200-day moving average price is $11.21. The stock has a market cap of $9.83 billion, a P/E ratio of -8.69 and a beta of 2.66.

Joby Aviation (NYSE:JOBY) last posted 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 firm had revenue of $24.25 million during the quarter, compared to analyst estimates 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 previous year, the firm earned ($0.11) EPS. As a group, equities analysts forecast that Joby Aviation, Inc. will post -0.83 EPS for the current fiscal year.

Institutional Trading of Joby Aviation

A number of institutional investors have recently made changes to their positions in JOBY. Segall Bryant & Hamill LLC bought a new stake in shares of Joby Aviation in the first quarter worth approximately $131,000. J. Derek Lewis & Associates Inc. bought a new position in Joby Aviation during the first quarter valued at approximately $121,000. Western Wealth Management LLC purchased a new stake in Joby Aviation in the first quarter worth approximately $37,000. Edgestream Partners L.P. purchased a new stake in Joby Aviation in the first quarter worth approximately $1,189,000. Finally, Arkadios Wealth Advisors bought a new stake in Joby Aviation in the 1st quarter worth approximately $90,000. Hedge funds and other institutional investors own 52.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on JOBY. HC Wainwright reiterated a “buy” rating and set a $18.00 price target on shares of Joby Aviation in a report on Thursday, March 12th. Needham & Company LLC reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Joby Aviation in a research report on Wednesday, May 6th. Wall Street Zen upgraded Joby Aviation from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 10th. Weiss Ratings lowered Joby Aviation from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, May 4th. Finally, Canaccord Genuity Group reduced their target price on Joby Aviation from $15.50 to $11.50 and set a “hold” rating for the company in a report on Thursday, May 7th. Two analysts have rated the stock with a Buy rating, four 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 an average price target of $13.06.

Joby Aviation Company Profile

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.