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 business’s stock in a transaction on Thursday, September 3rd. The shares were 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 in the company, valued at $763,625.59. This trade represents a 7.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 value of $256,115.87.
• On Thursday, July 2nd, Rodrigo Brumana sold 2,601 shares of Joby Aviation stock. The stock was sold at an average price of $8.92, for a total value of $23,200.92.

Joby Aviation Stock Performance

Shares of JOBY opened at $6.75 on Friday. The stock has a 50-day moving average of $7.69 and a two-hundred day moving average of $8.98. Joby Aviation, Inc. has a one year low of $6.61 and a one year high of $19.98. The company has a debt-to-equity ratio of 0.40, a quick ratio of 17.98 and a current ratio of 17.98. The stock has a market cap of $6.68 billion, a P/E ratio of -6.82 and a beta of 2.68.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $38.64 million for the quarter, compared to analysts’ expectations of $30.20 million. During the same quarter in the previous year, the firm posted ($0.41) EPS. The firm’s revenue for the quarter was up 257493.3% compared to the same quarter last year. As a group, research analysts predict that Joby Aviation, Inc. will post -1 EPS for the current year.

More Joby Aviation News

Here are the key news stories impacting Joby Aviation this week:

• Positive Sentiment: Joby agreed to acquire defense technology company Resonant Sciences for approximately $500 million, mostly in cash. The transaction could roughly double Joby’s revenue on a comparable trailing-12-month basis and diversify the company beyond its eVTOL aircraft business. Joby Aviation Is Spending $450 Million in Cash to Roughly Double Its Revenue
• Neutral Sentiment: Joby’s latest quarter showed revenue of $38.64 million, well above the $30.20 million consensus estimate, and revenue growth was substantial year over year. However, the company reported a $0.25 per-share loss versus expectations for a $0.23 loss, while analysts still forecast a roughly $1 per-share loss for the full year. Joby Aviation, Inc. Down 16.5% Since Last Earnings Report
• Negative Sentiment: The Resonant Sciences deal is primarily cash-funded, raising investor concerns about capital consumption as Joby continues to operate at a significant loss. The stock is trading below its 50-day and 200-day moving averages and near its 12-month low, reflecting weak momentum.
• Negative Sentiment: Analyst sentiment remains cautious. Needham lowered its price target to $15 despite maintaining a Buy rating, while the broader analyst consensus is “Reduce,” with three Sell, four Hold and two Buy ratings. Joby Aviation Analyst Ratings
• Neutral Sentiment: CFO Rodrigo Brumana sold 46,729 shares over September 2–3, while Director Paul Sciarra sold 62,500 shares. Both transactions were made under pre-arranged Rule 10b5-1 plans; Brumana’s sales were specifically intended to cover tax withholding on vested equity awards, reducing their bearish significance. Joby Aviation Insider Trading

Hedge Funds Weigh In On Joby Aviation

Large investors have recently made changes to their positions in the company. Renaissance Technologies LLC raised its position in shares of Joby Aviation by 194.5% in the first quarter. Renaissance Technologies LLC now owns 4,005,200 shares of the company’s stock worth $33,083,000 after acquiring an additional 2,645,200 shares during the period. Man Group plc purchased a new stake in shares of Joby Aviation during the 3rd quarter worth about $40,283,000. Norges Bank acquired a new stake in shares of Joby Aviation during the 4th quarter valued at about $32,269,000. California State Teachers Retirement System grew its position in shares of Joby Aviation by 806.6% during the 2nd quarter. California State Teachers Retirement System now owns 2,568,987 shares of the company’s stock valued at $22,915,000 after acquiring an additional 2,285,620 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Joby Aviation by 80.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,384,180 shares of the company’s stock valued at $44,672,000 after purchasing an additional 1,512,094 shares in the last quarter. 52.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on JOBY. Barclays raised shares of Joby Aviation to a “hold” rating in a research report on Wednesday, July 29th. HC Wainwright reiterated a “buy” rating on shares of Joby Aviation in a research note on Thursday, August 6th. Wall Street Zen cut shares of Joby Aviation from a “sell” rating to a “strong sell” rating in a report on Saturday, August 8th. Weiss Ratings raised shares of Joby Aviation from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 14th. Finally, Susquehanna set a $18.00 price objective on Joby Aviation in a research note on Thursday, August 6th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $13.81.

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.