Insider Selling: Joby Aviation (NYSE:JOBY) Director Sells 416,666 Shares of Stock

by · The Markets Daily

Joby Aviation, Inc. (NYSE:JOBY – Get Free Report) Director Paul Cahill Sciarra sold 416,666 shares of the stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $12.02, for a total transaction of $5,008,325.32. Following the completion of the sale, the director directly owned 55,911,391 shares of the company’s stock, valued at $672,054,919.82. This trade represents a 0.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Joby Aviation Stock Up 0.8%

JOBY traded up $0.09 on Monday, reaching $11.99. 22,728,064 shares of the company traded hands, compared to its average volume of 27,958,928. The company has a market cap of $11.80 billion, a price-to-earnings ratio of -10.43 and a beta of 2.66. 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 stock’s 50 day moving average price is $9.50 and its 200-day moving average price is $11.63. Joby Aviation, Inc. has a 52-week low of $7.34 and a 52-week high of $20.95.

Joby Aviation (NYSE:JOBY – Get Free Report) last released its earnings results on Tuesday, May 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.09. Joby Aviation had a negative net margin of 1,232.62% and a negative return on equity of 60.54%. The company had revenue of $24.25 million during the quarter, compared to the consensus estimate of $20.17 million. During the same quarter in the prior year, the firm earned ($0.11) EPS. On average, sell-side analysts expect that Joby Aviation, Inc. will post -0.83 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Strategic Advocates LLC acquired a new stake in shares of Joby Aviation in the third quarter valued at about $29,000. Fifth Third Bancorp boosted its position in shares of Joby Aviation by 207.4% in the fourth quarter. Fifth Third Bancorp now owns 1,998 shares of the company’s stock valued at $26,000 after acquiring an additional 1,348 shares during the period. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in Joby Aviation during the 4th quarter valued at $28,000. Ancora Advisors LLC acquired a new position in Joby Aviation during the 3rd quarter valued at $35,000. Finally, Pandora Wealth Inc. bought a new stake in shares of Joby Aviation in the fourth quarter valued at about $32,000. Institutional investors and hedge funds own 52.85% of the company’s stock.

Analyst Upgrades and Downgrades

JOBY has been the subject of several recent research reports. HC Wainwright reissued a “buy” rating and issued a $18.00 price target on shares of Joby Aviation in a research note on Thursday, March 12th. Morgan Stanley decreased their target price 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. Weiss Ratings downgraded shares of Joby Aviation from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, May 4th. Needham & Company LLC reiterated a “buy” rating and issued a $18.00 price objective on shares of Joby Aviation in a report on Wednesday, May 6th. Finally, Canaccord Genuity Group lowered their target price on shares of Joby Aviation from $15.50 to $11.50 and set a “hold” rating on the stock in a research report on Thursday, May 7th. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $13.06.

Get Our Latest Stock Report on Joby Aviation

About Joby Aviation

(Get Free Report)

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.

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