Joeben Bevirt Sells 421,019 Shares of Joby Aviation (NYSE:JOBY) Stock

Joby Aviation, Inc. (NYSE:JOBY) CEO Joeben Bevirt sold 421,019 shares of the company’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $10.38, for a total value of $4,370,177.22. Following the completion of the sale, the chief executive officer owned 31,678,802 shares in the company, valued at $328,825,964.76. This represents a 1.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Joeben Bevirt also recently made the following trade(s):

• On Wednesday, April 15th, Joeben Bevirt sold 421,018 shares of Joby Aviation stock. The shares were sold at an average price of $9.03, for a total transaction of $3,801,792.54.
• On Wednesday, April 15th, Joeben Bevirt sold 39,963 shares of Joby Aviation stock. The shares were sold at an average price of $9.03, for a total transaction of $360,865.89.
• On Wednesday, April 8th, Joeben Bevirt sold 986 shares of Joby Aviation stock. The stock was sold at an average price of $8.87, for a total transaction of $8,745.82.
• On Thursday, April 2nd, Joeben Bevirt sold 15,823 shares of Joby Aviation stock. The stock was sold at an average price of $8.15, for a total transaction of $128,957.45.
• On Tuesday, March 10th, Joeben Bevirt sold 3,238 shares of Joby Aviation stock. The shares were sold at an average price of $10.25, for a total transaction of $33,189.50.
• On Tuesday, February 17th, Joeben Bevirt sold 507,182 shares of Joby Aviation stock. The shares were sold at an average price of $9.91, for a total transaction of $5,026,173.62.
• On Tuesday, February 17th, Joeben Bevirt sold 63,636 shares of Joby Aviation stock. The stock was sold at an average price of $9.91, for a total transaction of $630,632.76.

Joby Aviation Trading Down 2.6%

JOBY stock traded down $0.28 during midday trading on Friday, hitting $10.37. The stock had a trading volume of 25,343,597 shares, compared to its average volume of 27,752,779. The company’s 50-day moving average price is $9.26 and its 200 day moving average price is $12.00. 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 firm has a market cap of $10.15 billion, a PE ratio of -9.01 and a beta of 2.61. Joby Aviation, Inc. has a 12-month low of $6.42 and a 12-month high of $20.95.

Joby Aviation (NYSE:JOBY) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.09. Joby Aviation had a negative return on equity of 60.54% and a negative net margin of 1,232.62%.The company had revenue of $24.25 million for the quarter, compared to analyst estimates of $20.17 million. During the same quarter in the prior year, the company posted ($0.11) EPS. On average, equities research analysts predict that Joby Aviation, Inc. will post -0.83 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on the company. Oppenheimer set a $18.00 price target on Joby Aviation in a report on Thursday, February 26th. Canaccord Genuity Group dropped their price objective on shares of Joby Aviation from $15.50 to $11.50 and set a “hold” rating for the company in a research note on Thursday, May 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 price objective on shares of Joby Aviation in a research note on Wednesday, May 6th. Morgan Stanley dropped their price target on shares of Joby Aviation from $15.00 to $13.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 6th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $18.00 price target on shares of Joby Aviation in a research note on Thursday, March 12th. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Joby Aviation currently has a consensus rating of “Reduce” and an average target price of $13.06.

Hedge Funds Weigh In On Joby Aviation

Large investors have recently modified their holdings of the company. Royal Bank of Canada raised its holdings in shares of Joby Aviation by 110.5% in the 1st quarter. Royal Bank of Canada now owns 85,070 shares of the company’s stock worth $512,000 after purchasing an additional 44,659 shares during the period. AQR Capital Management LLC purchased a new stake in shares of Joby Aviation during the 1st quarter worth about $273,000. Strs Ohio acquired a new stake in Joby Aviation during the 1st quarter worth approximately $37,000. Cetera Investment Advisers raised its holdings in Joby Aviation by 16.0% in the second quarter. Cetera Investment Advisers now owns 64,069 shares of the company’s stock valued at $676,000 after buying an additional 8,840 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in Joby Aviation by 80.1% in the second quarter. JPMorgan Chase & Co. now owns 750,733 shares of the company’s stock valued at $7,920,000 after buying an additional 333,995 shares during the period. 52.85% of the stock is currently owned by hedge funds and other institutional investors.

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.