Insider Buying: Joby Aviation (NYSE:JOBY) Director Acquires 1,100 Shares of Stock

Key Points

• Director Michael Jr. Thompson bought 1,100 shares of Joby Aviation on Dec. 31 at an average price of $13.24 (totaling $14,564), a transaction disclosed in an SEC filing; after the purchase he directly owned 550 shares valued at roughly $7,282.
• JOBY recently traded at about $14.37 (up $1.17 on the last session) with higher-than-average volume; the stock's 50- and 200-day moving averages are around $14.67 and $14.72, and its 52-week range is $4.96–$20.95 (market cap ≈ $13.1B).
• Analysts are mixed (1 Buy, 5 Hold, 3 Sell) with a MarketBeat consensus rating of "Reduce" and an average price target of $13.43, while institutional investors hold roughly 52.85% of the shares—Toyota alone owns a large stake (128.45M shares) after a recent 63.1% increase.

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) Director Michael Jr. Thompson purchased 1,100 shares of the business's stock in a transaction dated Wednesday, December 31st. The stock was bought at an average price of $13.24 per share, with a total value of $14,564.00. Following the acquisition, the director directly owned 550 shares in the company, valued at approximately $7,282. This represents a -200.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Joby Aviation Stock Performance

JOBY stock traded up $1.17 during trading on Friday, reaching $14.37. 21,794,706 shares of the company were exchanged, compared to its average volume of 15,424,115. The stock's 50 day moving average price is $14.67 and its 200 day moving average price is $14.72. Joby Aviation, Inc. has a 52-week low of $4.96 and a 52-week high of $20.95. The company has a market cap of $13.10 billion, a P/E ratio of -10.72 and a beta of 2.56.

Joby Aviation (NYSE:JOBY - Get Free Report) last issued its earnings results on Wednesday, November 5th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.29). The business had revenue of $22.57 million for the quarter, compared to the consensus estimate of $0.02 million. The company's quarterly revenue was up 7962.1% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.21) earnings per share. As a group, equities research analysts forecast that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Hedge Funds Weigh In On Joby Aviation

Large investors have recently added to or reduced their stakes in the business. Toyota Motor Corp boosted its stake in Joby Aviation by 63.1% in the 2nd quarter. Toyota Motor Corp now owns 128,454,401 shares of the company's stock worth $1,355,194,000 after buying an additional 49,701,790 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Joby Aviation by 13.2% in the third quarter. Vanguard Group Inc. now owns 49,948,325 shares of the company's stock worth $806,166,000 after acquiring an additional 5,828,189 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Joby Aviation by 5.4% in the second quarter. Geode Capital Management LLC now owns 11,109,935 shares of the company's stock worth $117,230,000 after acquiring an additional 573,328 shares during the last quarter. State Street Corp grew its holdings in Joby Aviation by 3.0% in the second 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. Finally, Rheos Capital Works Inc. increased its position in Joby Aviation by 58.2% during the second quarter. Rheos Capital Works Inc. now owns 7,205,000 shares of the company's stock worth $76,013,000 after purchasing an additional 2,650,000 shares during the last quarter. 52.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. The Goldman Sachs Group started coverage on Joby Aviation in a research report on Monday, December 1st. They set a "sell" rating and a $10.00 target price on the stock. Zacks Research raised Joby Aviation from a "strong sell" rating to a "hold" rating in a research note on Tuesday, November 4th. JPMorgan Chase & Co. increased their price objective on shares of Joby Aviation from $7.00 to $8.00 and gave the company an "underweight" rating in a research note on Friday, October 31st. Needham & Company LLC restated a "buy" rating and set a $22.00 target price on shares of Joby Aviation in a report on Thursday, November 6th. Finally, Morgan Stanley upped their price target on shares of Joby Aviation from $7.00 to $15.00 and gave the company an "equal weight" rating in a report on Thursday, October 9th. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and an average price target of $13.43.

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.

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