Didier Papadopoulos Sells 5,999 Shares of Joby Aviation (NYSE:JOBY) Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Didier Papadopoulos sold 5,999 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $9.83, for a total value of $58,970.17. Following the completion of the transaction, the insider owned 150,430 shares of the company’s stock, valued at $1,478,726.90. The trade was a 3.83% 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 the SEC website. 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.

Didier Papadopoulos also recently made the following trade(s):

• On Tuesday, June 16th, Didier Papadopoulos sold 1,975 shares of Joby Aviation stock. The shares were sold at an average price of $9.42, for a total transaction of $18,604.50.
• On Thursday, April 9th, Didier Papadopoulos sold 271 shares of Joby Aviation stock. The shares were sold at an average price of $8.47, for a total transaction of $2,295.37.
• On Wednesday, April 8th, Didier Papadopoulos sold 826 shares of Joby Aviation stock. The stock was sold at an average price of $8.87, for a total transaction of $7,326.62.
• On Monday, April 6th, Didier Papadopoulos sold 3,394 shares of Joby Aviation stock. The shares were sold at an average price of $8.76, for a total value of $29,731.44.
• On Thursday, April 2nd, Didier Papadopoulos sold 12,965 shares of Joby Aviation stock. The stock was sold at an average price of $8.15, for a total value of $105,664.75.

Joby Aviation Price Performance

NYSE JOBY traded down $0.34 during trading on Tuesday, hitting $9.33. 48,974,865 shares of the stock traded hands, compared to its average volume of 28,447,529. The company has a market capitalization of $9.18 billion, a P/E ratio of -8.11 and a beta of 2.66. Joby Aviation, Inc. has a 12-month low of $7.75 and a 12-month high of $20.95. The firm has a 50-day simple moving average of $9.84 and a 200-day simple moving average of $11.28. The company has a quick ratio of 22.05, a current ratio of 22.06 and a debt-to-equity ratio of 0.36.

Joby Aviation (NYSE:JOBY) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $20.17 million. During the same period in the prior year, the firm earned ($0.11) EPS. As a group, analysts predict that Joby Aviation, Inc. will post -0.83 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. HC Wainwright restated a “buy” rating and issued a $18.00 price target on shares of Joby Aviation in a research report on Thursday, March 12th. 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. Wall Street Zen raised shares of Joby Aviation from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 10th. Morgan Stanley dropped their price objective on shares of Joby Aviation from $15.00 to $13.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 6th. Finally, 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. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $13.06.

Institutional Trading of Joby Aviation

A number of large investors have recently made changes to their positions in the stock. Lingotto Investment Management LLP lifted its stake 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 period. DNB Asset Management AS lifted its stake 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 period. Kemnay Advisory Services Inc. bought a new position in Joby Aviation in the third quarter worth about $2,830,000. Kingsview Wealth Management LLC raised 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 purchasing an additional 86,446 shares in the last quarter. Finally, Vanguard Group Inc. raised 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 purchasing an additional 2,540,382 shares in the last quarter. 52.85% of the stock is 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.