Joby Aviation (NYSE:JOBY) Insider Kate Dehoff Sells 14,240 Shares of Stock

Key Points

• Insider sale: Joby Aviation insider Kate Dehoff sold 14,240 shares at an average price of $7.73, worth about $110,075. The transaction was part of a pre-arranged 10b5-1 plan and was done to cover tax withholding tied to equity award vesting.
• Recent stock activity: JOBY shares rose 5.5% to $7.89 on heavy trading volume, though the stock remains well below its 50-day and 200-day moving averages. The company’s market cap is about $7.77 billion.
• Fundamentals and outlook: Joby recently beat quarterly EPS and revenue expectations, but analysts still see losses ahead, with a consensus rating of Reduce and an average price target of $13.64. Institutional ownership remains significant, with hedge funds and other investors holding 52.85% of the stock.

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) insider Kate Dehoff sold 14,240 shares of the business's stock in a transaction dated Tuesday, July 14th. The shares were sold at an average price of $7.73, for a total value of $110,075.20. Following the completion of the sale, the insider directly owned 180,179 shares of the company's stock, valued at $1,392,783.67. The trade was a 7.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.

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

• On Monday, July 13th, Kate Dehoff sold 8,381 shares of Joby Aviation stock. The stock was sold at an average price of $7.53, for a total value of $63,108.93.
• On Thursday, July 2nd, Kate Dehoff sold 9,575 shares of Joby Aviation stock. The shares were sold at an average price of $8.92, for a total value of $85,409.00.

Joby Aviation Stock Up 5.5%

Shares of NYSE JOBY traded up $0.41 during midday trading on Tuesday, hitting $7.89. 49,000,015 shares of the stock traded hands, compared to its average volume of 30,872,689. The company has a debt-to-equity ratio of 0.36, a quick ratio of 22.05 and a current ratio of 22.06. Joby Aviation, Inc. has a one year low of $7.43 and a one year high of $20.95. The business has a 50 day moving average price of $9.84 and a two-hundred day moving average price of $10.51. The company has a market cap of $7.77 billion, a PE ratio of -6.87 and a beta of 2.71.

Joby Aviation (NYSE:JOBY - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.12) EPS for the quarter, beating analysts' consensus estimates of ($0.21) by $0.09. The business had revenue of $24.25 million during the quarter, compared to analyst estimates 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 quarter in the previous year, the business posted ($0.11) EPS. On average, equities analysts predict that Joby Aviation, Inc. will post -0.83 EPS for the current year.

Analyst Upgrades and Downgrades

JOBY has been the topic of several recent research reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $18.00 price target on shares of Joby Aviation in a research report on Wednesday, May 6th. Weiss Ratings downgraded Joby Aviation from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Monday, May 4th. Canaccord Genuity Group dropped their target price on Joby Aviation from $15.50 to $11.50 and set a "hold" rating on the stock in a report on Thursday, May 7th. 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 report on Wednesday, May 6th. Finally, Wall Street Zen raised Joby Aviation from a "strong sell" rating to a "sell" rating in a research report on Sunday, May 10th. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Reduce" and a consensus price target of $13.64.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in JOBY. Royal Bank of Canada lifted its position in shares of Joby Aviation by 110.5% during the 1st quarter. Royal Bank of Canada now owns 85,070 shares of the company's stock worth $512,000 after buying an additional 44,659 shares in the last quarter. AQR Capital Management LLC purchased a new stake in shares of Joby Aviation during the first quarter valued at approximately $273,000. Strs Ohio bought a new stake in Joby Aviation during the first quarter worth $37,000. Cetera Investment Advisers lifted its holdings in Joby Aviation by 16.0% during the second quarter. Cetera Investment Advisers now owns 64,069 shares of the company's stock worth $676,000 after acquiring an additional 8,840 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in Joby Aviation by 80.1% in the second quarter. JPMorgan Chase & Co. now owns 750,733 shares of the company's stock worth $7,920,000 after purchasing an additional 333,995 shares during the last quarter. 52.85% of the stock is currently owned by hedge funds and other institutional investors.

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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