Joby Aviation (NYSE:JOBY) Insider Kate Dehoff Sells 8,381 Shares of Stock

Key Points

• Insider sale: Joby Aviation insider Kate Dehoff sold 8,381 shares at an average price of $7.53, totaling about $63,109. The trade was made under a pre-arranged 10b5-1 plan to cover tax withholding tied to vesting equity awards.
• More recent insider selling: Dehoff also sold additional Joby shares on July 14 and July 2, indicating a series of disposals rather than a one-off transaction.
• Stock and analyst backdrop: JOBY rose to $7.89 on heavy trading, but the stock remains below its 50-day and 200-day moving averages. Analysts are mixed, with a consensus rating of Reduce and an average price target of $13.64.

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) insider Kate Dehoff sold 8,381 shares of the firm's stock in a transaction dated Monday, July 13th. The shares were sold at an average price of $7.53, for a total transaction of $63,108.93. Following the completion of the sale, the insider owned 194,419 shares of the company's stock, valued at $1,463,975.07. This trade represents a 4.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 Tuesday, July 14th, Kate Dehoff sold 14,240 shares of Joby Aviation stock. The shares were sold at an average price of $7.73, for a total value of $110,075.20.
• On Thursday, July 2nd, Kate Dehoff sold 9,575 shares of Joby Aviation stock. The stock was sold at an average price of $8.92, for a total value of $85,409.00.

Joby Aviation Price Performance

JOBY traded up $0.41 during trading on Tuesday, reaching $7.89. 49,000,015 shares of the stock were exchanged, compared to its average volume of 30,872,689. The company has a debt-to-equity ratio of 0.36, a current ratio of 22.06 and a quick ratio of 22.05. The company has a market capitalization of $7.77 billion, a price-to-earnings ratio of -6.87 and a beta of 2.71. Joby Aviation, Inc. has a 1 year low of $7.43 and a 1 year high of $20.95. The business's 50 day moving average price is $9.84 and its two-hundred day moving average price is $10.51.

Joby Aviation (NYSE:JOBY - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.12) earnings per share 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 analysts' expectations of $20.17 million. Joby Aviation had a negative return on equity of 60.54% and a negative net margin of 1,232.62%.During the same quarter last year, the business posted ($0.11) earnings per share. As a group, equities research analysts anticipate that Joby Aviation, Inc. will post -0.83 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Fifth Third Bancorp lifted its holdings in Joby Aviation by 207.4% in the 4th quarter. Fifth Third Bancorp now owns 1,998 shares of the company's stock valued at $26,000 after purchasing an additional 1,348 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Joby Aviation by 284.8% in the second quarter. EverSource Wealth Advisors LLC now owns 2,540 shares of the company's stock valued at $27,000 after buying an additional 1,880 shares during the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in shares of Joby Aviation during the fourth quarter valued at approximately $28,000. Strategic Advocates LLC purchased a new position in shares of Joby Aviation during the third quarter valued at approximately $29,000. Finally, Pandora Wealth Inc. acquired a new stake in Joby Aviation during the fourth quarter worth approximately $32,000. Institutional investors and hedge funds own 52.85% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on JOBY shares. Wall Street Zen upgraded shares of Joby Aviation from a "strong sell" rating to a "sell" rating in a research report on Sunday, May 10th. Morgan Stanley lowered their price target on shares of 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. Weiss Ratings cut shares of Joby Aviation from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Monday, May 4th. 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. Finally, Canaccord Genuity Group reduced their target price on Joby Aviation from $15.50 to $11.50 and set a "hold" rating on the stock in a research note on Thursday, May 7th. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Reduce" and an average target price of $13.64.

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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