Williamson Legacy Group LLC Takes $998,000 Position in Joby Aviation, Inc. $JOBY

Key Points

• Williamson Legacy Group opened a new position in Joby Aviation, buying 75,639 shares valued at about $998,000 in the fourth quarter.
• Insider selling continued, highlighted by CEO Joeben Bevirt’s sale of 421,019 shares for about $4.37 million under a pre-arranged trading plan; insiders have sold 1.09 million shares worth roughly $10.45 million over the past three months.
• Joby Aviation beat quarterly estimates, reporting a loss of $0.12 per share versus the expected $0.21 loss and revenue of $24.25 million versus $20.17 million, while analysts currently hold a Reduce consensus rating with a $13.06 price target.

Williamson Legacy Group LLC acquired a new stake in Joby Aviation, Inc. (NYSE:JOBY - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 75,639 shares of the company's stock, valued at approximately $998,000.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Joby Aviation by 5.1% in the 4th quarter. Vanguard Group Inc. now owns 52,488,707 shares of the company's stock valued at $692,851,000 after purchasing an additional 2,540,382 shares during the period. State Street Corp grew its stake in shares of Joby Aviation by 3.0% in the 2nd quarter. State Street Corp now owns 10,392,018 shares of the company's stock valued at $109,636,000 after purchasing an additional 305,109 shares during the period. Bank of America Corp DE grew its stake in shares of Joby Aviation by 41.2% in the 3rd quarter. Bank of America Corp DE now owns 4,192,109 shares of the company's stock valued at $67,661,000 after purchasing an additional 1,223,412 shares during the period. Rheos Capital Works Inc. grew its stake in shares of Joby Aviation by 45.0% in the 4th quarter. Rheos Capital Works Inc. now owns 3,545,000 shares of the company's stock valued at $46,794,000 after purchasing an additional 1,100,000 shares during the period. Finally, Man Group plc bought a new stake in shares of Joby Aviation in the 3rd quarter valued at approximately $40,283,000. 52.85% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Joeben Bevirt sold 421,019 shares of the company's stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $10.38, for a total transaction of $4,370,177.22. Following the transaction, the chief executive officer directly owned 31,678,802 shares in the company, valued at approximately $328,825,964.76. This represents a 1.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kate Dehoff sold 14,295 shares of the company's stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $8.73, for a total transaction of $124,795.35. Following the transaction, the insider owned 163,567 shares in the company, valued at $1,427,939.91. The trade was a 8.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Insiders sold a total of 1,089,118 shares of company stock valued at $10,449,476 over the last three months. 28.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Weiss Ratings lowered Joby Aviation from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Monday, May 4th. Morgan Stanley lowered their price objective on Joby Aviation from $15.00 to $13.00 and set an "equal weight" rating on the stock in a research note 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 note 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. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Joby Aviation from $8.00 to $7.00 and set an "underweight" rating on the stock in a research note on Thursday, February 26th. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Reduce" and a consensus price target of $13.06.

Joby Aviation Price Performance

Shares of Joby Aviation stock opened at $11.54 on Wednesday. The company has a current ratio of 22.06, a quick ratio of 22.05 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $11.35 billion, a price-to-earnings ratio of -10.03 and a beta of 2.61. Joby Aviation, Inc. has a 1-year low of $6.72 and a 1-year high of $20.95. The firm's 50-day moving average price is $9.37 and its two-hundred day moving average price is $11.70.

Joby Aviation (NYSE:JOBY - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.09. The firm had revenue of $24.25 million for the quarter, compared to analysts' expectations of $20.17 million. Joby Aviation had a negative net margin of 1,232.62% and a negative return on equity of 60.54%. During the same period in the prior year, the firm earned ($0.11) earnings per share. On average, equities analysts predict that Joby Aviation, Inc. will post -0.83 earnings per share for the current fiscal year.

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.

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