Insider Selling: Joby Aviation (NYSE:JOBY) CEO Sells $140,828.96 in Stock

by · The Markets Daily

Joby Aviation, Inc. (NYSE:JOBY – Get Free Report) CEO Joeben Bevirt sold 15,788 shares of Joby Aviation stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $8.92, for a total transaction of $140,828.96. Following the sale, the chief executive officer owned 239,671 shares in the company, valued at approximately $2,137,865.32. This represents a 6.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

  • On Friday, May 15th, Joeben Bevirt sold 421,019 shares of Joby Aviation stock. The shares were sold at an average price of $10.38, for a total transaction of $4,370,177.22.
  • 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 stock was 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.

Joby Aviation Trading Up 5.2%

NYSE JOBY traded up $0.45 on Monday, reaching $8.94. The company had a trading volume of 55,744,434 shares, compared to its average volume of 30,442,541. The firm has a market cap of $8.79 billion, a price-to-earnings ratio of -7.77 and a beta of 2.71. Joby Aviation, Inc. has a fifty-two week low of $7.75 and a fifty-two week high of $20.95. The business has a 50 day moving average of $9.93 and a two-hundred day moving average of $10.76. The company has a debt-to-equity ratio of 0.36, a current ratio of 22.06 and a quick ratio of 22.05.

Joby Aviation (NYSE:JOBY – Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.12) EPS 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 period in the previous year, the firm earned ($0.11) earnings per share. Analysts forecast that Joby Aviation, Inc. will post -0.83 EPS for the current year.

Analysts Set New Price Targets

JOBY has been the topic of several research analyst reports. Wall Street Zen upgraded Joby Aviation from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 10th. Morgan Stanley cut their price target on Joby Aviation from $15.00 to $13.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 6th. HC Wainwright reaffirmed a “buy” rating and set a $18.00 price objective on shares of Joby Aviation in a research report on Thursday, March 12th. Weiss Ratings lowered shares of Joby Aviation from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 4th. Finally, Canaccord Genuity Group dropped 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 analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Joby Aviation currently has an average rating of “Reduce” and a consensus target price of $13.64.

Read Our Latest Research Report on Joby Aviation

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Fifth Third Bancorp lifted its holdings in shares of Joby Aviation by 207.4% in the 4th quarter. Fifth Third Bancorp now owns 1,998 shares of the company’s stock worth $26,000 after purchasing an additional 1,348 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in Joby Aviation by 284.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,540 shares of the company’s stock valued at $27,000 after purchasing an additional 1,880 shares in the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in Joby Aviation during the fourth quarter worth $28,000. Strategic Advocates LLC bought a new position in shares of Joby Aviation in the third quarter valued at $29,000. Finally, Pandora Wealth Inc. bought a new position in shares of Joby Aviation in the fourth quarter valued at $32,000. 52.85% of the stock is owned by institutional investors and hedge funds.

More Joby Aviation News

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

  • Positive Sentiment: Investor excitement increased after reports highlighted Toyota’s support for Joby’s all-electric air taxis and the company’s progress toward vertical flight and production readiness. Toyota backs Joby’s all-electric air taxis as production aircraft prepare for vertical flight
  • Positive Sentiment: Joby also announced it is expanding manufacturing capacity in California and Ohio and adding aircraft to its fleet, reinforcing the narrative that it is scaling operations ahead of commercialization. Joby Expands Manufacturing Capacity in California and Ohio, Adds New Aircraft to Its Fleet
  • Positive Sentiment: Several market commentaries pointed to a strong Monday rally, saying Joby’s valuation got another lift as traders focused on expansion and air taxi growth prospects. Why Joby Aviation Stock Is Surging Today
  • Neutral Sentiment: Multiple executives and insiders, including the CEO, CFO, and other senior leaders, sold shares this week, but the filings say the sales were primarily to cover tax withholding tied to vesting equity awards or made under a pre-arranged trading plan, which makes the activity less concerning than open-market selling.

Joby Aviation Company Profile

(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.

Further Reading