Joby Aviation (NYSE:JOBY) CFO Rodrigo Brumana Sells 78,489 Shares of Stock

Joby Aviation, Inc. (NYSE:JOBY) CFO Rodrigo Brumana sold 78,489 shares of the company’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $11.30, for a total value of $886,925.70. Following the sale, the chief financial officer owned 81,694 shares of the company’s stock, valued at approximately $923,142.20. The trade was a 49.00% decrease in their ownership of the stock. The transaction was disclosed in a legal 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.

Rodrigo Brumana also recently made the following trade(s):

• On Wednesday, April 8th, Rodrigo Brumana sold 566 shares of Joby Aviation stock. The stock was sold at an average price of $8.87, for a total value of $5,020.42.
• On Tuesday, March 10th, Rodrigo Brumana sold 1,159 shares of Joby Aviation stock. The stock was sold at an average price of $10.25, for a total value of $11,879.75.

Joby Aviation Trading Up 1.5%

JOBY stock opened at $9.69 on Tuesday. The company has a market cap of $9.53 billion, a price-to-earnings ratio of -8.43 and a beta of 2.66. The company has a quick ratio of 22.05, a current ratio of 22.06 and a debt-to-equity ratio of 0.36. The business has a fifty day simple moving average of $9.72 and a 200-day simple moving average of $11.46. Joby Aviation, Inc. has a 52 week low of $7.75 and a 52 week high of $20.95.

Joby Aviation (NYSE:JOBY) last released 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 business had revenue of $24.25 million during the quarter, compared to the consensus estimate of $20.17 million. During the same period in the prior year, the firm posted ($0.11) EPS. On average, equities research analysts expect that Joby Aviation, Inc. will post -0.83 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Oppenheimer set a $18.00 price target on Joby Aviation in a report on Thursday, February 26th. Morgan Stanley lowered their price target on Joby Aviation from $15.00 to $13.00 and set an “equal weight” rating for the company in a report on Wednesday, May 6th. Wall Street Zen upgraded Joby Aviation from a “strong sell” rating to a “sell” rating in a report on Sunday, May 10th. JPMorgan Chase & Co. lowered their price target on Joby Aviation from $8.00 to $7.00 and set an “underweight” rating for the company in a report on Thursday, February 26th. Finally, Weiss Ratings downgraded Joby Aviation from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, May 4th. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Joby Aviation currently has an average rating of “Reduce” and an average price target of $13.06.

Institutional Trading of Joby Aviation

Large investors have recently modified their holdings of the business. Lingotto Investment Management LLP lifted its holdings in Joby Aviation by 34.2% in the fourth quarter. Lingotto Investment Management LLP now owns 3,138,240 shares of the company’s stock worth $41,425,000 after acquiring an additional 799,260 shares during the last quarter. DNB Asset Management AS lifted its holdings in Joby Aviation by 16.3% in the fourth quarter. DNB Asset Management AS now owns 366,281 shares of the company’s stock worth $4,835,000 after acquiring an additional 51,344 shares during the last quarter. Kemnay Advisory Services Inc. bought a new position in Joby Aviation in the third quarter worth about $2,830,000. Kingsview Wealth Management LLC lifted its holdings in Joby Aviation by 838.2% in the third quarter. Kingsview Wealth Management LLC now owns 96,759 shares of the company’s stock worth $1,562,000 after acquiring an additional 86,446 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Joby Aviation by 5.1% in the fourth quarter. Vanguard Group Inc. now owns 52,488,707 shares of the company’s stock worth $692,851,000 after acquiring an additional 2,540,382 shares during the last quarter. 52.85% of the stock is currently owned by institutional investors and hedge funds.

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.