Insider Selling: Joby Aviation (NYSE:JOBY) CFO Sells $23,200.92 in Stock

Joby Aviation, Inc. (NYSE:JOBY) CFO Rodrigo Brumana sold 2,601 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 value of $23,200.92. Following the completion of the transaction, the chief financial officer owned 84,139 shares of the company’s stock, valued at approximately $750,519.88. The trade was a 3.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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 Thursday, June 4th, Rodrigo Brumana sold 78,489 shares of Joby Aviation stock. The shares were sold at an average price of $11.30, for a total value of $886,925.70.
• 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.

Joby Aviation Stock Down 2.3%

JOBY stock opened at $7.93 on Thursday. 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, Inc. has a 1-year low of $7.75 and a 1-year high of $20.95. The firm has a fifty day moving average price of $9.91 and a two-hundred day moving average price of $10.65. The firm has a market cap of $7.81 billion, a price-to-earnings ratio of -6.90 and a beta of 2.71.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.12) EPS for the quarter, beating the consensus estimate 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 business had revenue of $24.25 million during the quarter, compared to analyst estimates of $20.17 million. During the same period in the previous year, the business posted ($0.11) EPS. Research analysts predict that Joby Aviation, Inc. will post -0.83 EPS for the current year.

Analyst Upgrades and Downgrades

JOBY has been the subject of several recent research reports. Wall Street Zen raised Joby Aviation from a “strong sell” rating to a “sell” rating in a report on Sunday, May 10th. Needham & Company LLC restated a “buy” rating and set a $18.00 price objective on shares of Joby Aviation in a research report on Wednesday, May 6th. Canaccord Genuity Group lowered their price objective on Joby Aviation from $15.50 to $11.50 and set a “hold” rating for the company in a research note on Thursday, May 7th. HC Wainwright reaffirmed a “buy” rating and issued a $18.00 target price on shares of Joby Aviation in a research report on Thursday, March 12th. Finally, Morgan Stanley dropped their target price on Joby Aviation from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Joby Aviation presently has a consensus rating of “Reduce” and a consensus price target of $13.64.

Key Stories Impacting Joby Aviation

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

• Positive Sentiment: Investors are still focused on the upside if Joby can launch commercial air taxi service by 2030 or even sooner, since that would validate its eVTOL model and could open a major new revenue stream. Prediction: Can Joby Aviation Stock Soar 500% by 2030?
• Positive Sentiment: Recent coverage continues to highlight the possibility that Joby could begin commercial air taxi operations this year, which keeps speculative buying interest alive. Joby Aviation Stock: Is It More Likely to Hit $15 or $5 This Year?
• Neutral Sentiment: Toyota’s ongoing partnership work with Joby Aviation keeps a strategic industry name attached to the company, reinforcing its long-term commercialization story. Toyota Motor (TSE:7203) Extends Lexus MSG Partnership, Is It Fully Priced?
• Neutral Sentiment: Multiple insider sales were disclosed from executives including the CEO and CFO, but the filings indicate many of the transactions were related to tax withholding or routine sales tied to vesting awards. Joby Aviation (NYSE:JOBY) CFO Rodrigo Brumana Sells 2,601 Shares
• Negative Sentiment: The stock is being weighed down by concerns that Joby’s aircraft is not yet approved for commercial use, so any delay in regulatory progress could pressure the shares further. Joby Aviation stock tests $8 support zone: What’s driving the air taxi pullback?
• Negative Sentiment: Recent insider selling from several top executives may be adding to investor caution, even if the sales were largely prearranged or tax-related. Joby Aviation (NYSE:JOBY) CEO Joeben Bevirt Sells 15,788 Shares

Hedge Funds Weigh In On Joby Aviation

Institutional investors and hedge funds have recently bought and sold shares of the stock. Strategic Advocates LLC acquired a new stake in shares of Joby Aviation in the 3rd quarter worth approximately $29,000. Fifth Third Bancorp increased its stake in shares of Joby Aviation by 207.4% during 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 bought a new stake in Joby Aviation during the fourth quarter worth approximately $28,000. Ancora Advisors LLC bought a new stake in Joby Aviation during the third quarter worth approximately $35,000. Finally, Pandora Wealth Inc. acquired a new stake in Joby Aviation in the fourth quarter worth approximately $32,000. Institutional investors own 52.85% of the company’s stock.

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.