Joby Aviation (NYSE:JOBY) Insider Sells $42,140.11 in Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Kate Dehoff sold 8,279 shares of the business’s stock in a transaction that occurred on Tuesday, October 13th. The stock was sold at an average price of $5.09, for a total value of $42,140.11. Following the transaction, the insider directly owned 196,964 shares in the company, valued at $1,002,546.76. This trade represents a 4.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Kate Dehoff also recently made the following trade(s):

• On Friday, October 2nd, Kate Dehoff sold 9,575 shares of Joby Aviation stock. The stock was sold at an average price of $5.95, for a total value of $56,971.25.

Joby Aviation Stock Down 3.0%

Shares of NYSE JOBY traded down $0.14 during trading hours on Friday, hitting $4.67. The company had a trading volume of 16,408,512 shares, compared to its average volume of 23,668,380. The stock has a market capitalization of $4.61 billion, a P/E ratio of -4.71 and a beta of 2.66. The company has a quick ratio of 17.98, a current ratio of 17.98 and a debt-to-equity ratio of 0.40. Joby Aviation, Inc. has a 1-year low of $4.43 and a 1-year high of $17.50. The firm’s 50 day moving average is $6.55 and its 200-day moving average is $8.19.

Joby Aviation (NYSE:JOBY) last released its earnings results on Wednesday, August 5th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.02). The firm had revenue of $38.64 million during the quarter, compared to the consensus estimate of $30.20 million. Joby Aviation had a negative net margin of 755.11% and a negative return on equity of 55.29%. Joby Aviation’s quarterly revenue was up 257493.3% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.41) earnings per share. On average, analysts expect that Joby Aviation, Inc. will post -1.00 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Needham & Company LLC decreased their price objective on shares of Joby Aviation from $18.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Morgan Stanley set a $10.00 price objective on shares of Joby Aviation in a research note on Friday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Joby Aviation in a report on Monday. Wall Street Zen cut shares of Joby Aviation from a “sell” rating to a “strong sell” rating in a report on Saturday, August 8th. Finally, HC Wainwright reiterated a “buy” rating and issued a $18.00 target price on shares of Joby Aviation in a research note on Monday, September 21st. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, Joby Aviation has an average rating of “Reduce” and a consensus target price of $12.39.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Russell Investments Group Ltd. grew its position in shares of Joby Aviation by 30.6% in the second quarter. Russell Investments Group Ltd. now owns 352,874 shares of the company’s stock valued at $3,148,000 after purchasing an additional 82,737 shares during the last quarter. SummitTX Capital L.P. bought a new position in shares of Joby Aviation during the first quarter worth approximately $1,127,000. Edgestream Partners L.P. bought a new position in shares of Joby Aviation during the first quarter worth approximately $1,189,000. Bank of New York Mellon Corp increased its stake in shares of Joby Aviation by 27.6% during the second quarter. Bank of New York Mellon Corp now owns 2,136,710 shares of the company’s stock worth $19,059,000 after purchasing an additional 462,585 shares during the period. Finally, USS Investment Management Ltd acquired a new stake in Joby Aviation during the 1st quarter worth approximately $8,868,000. Institutional investors and hedge funds own 52.85% of the company’s stock.

Joby Aviation Company Profile

Joby Aviation, Inc (NYSE: JOBY) is an aviation company developing all-electric vertical takeoff and landing (eVTOL) aircraft for commercial passenger transportation. Its aircraft are designed to take off and land vertically like a helicopter while providing quieter, lower-emission transportation for short urban and regional trips.

The company is pursuing an integrated air-taxi business model that includes designing and manufacturing its aircraft, operating passenger services, and developing the software and infrastructure needed to support aerial mobility.