Joby Aviation (NYSE:JOBY) Insider Sells 1,975 Shares

Key Points

• Insider sale: Joby Aviation insider Didier Papadopoulos sold 1,975 shares at an average price of $9.42, worth about $18,604. The sale was made under a pre-arranged Rule 10b5-1 plan and was tied to tax withholding from vesting equity awards.
• Recent trading activity: Papadopoulos has also sold additional Joby shares recently, including 5,999 shares on June 15 and multiple smaller sales in April. After the latest transaction, he still held 148,455 shares.
• Stock and outlook: JOBY fell to $9.33 during Tuesday trading and remains below its 200-day moving average of $11.28. Analysts are mixed on the stock, with a consensus rating of "Reduce" and a consensus price target of $13.06.

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) insider Didier Papadopoulos sold 1,975 shares of the firm's stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $9.42, for a total value of $18,604.50. Following the transaction, the insider owned 148,455 shares in the company, valued at approximately $1,398,446.10. This trade represents a 1.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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.

Didier Papadopoulos also recently made the following trade(s):

• On Monday, June 15th, Didier Papadopoulos sold 5,999 shares of Joby Aviation stock. The stock was sold at an average price of $9.83, for a total value of $58,970.17.
• On Thursday, April 9th, Didier Papadopoulos sold 271 shares of Joby Aviation stock. The stock was sold at an average price of $8.47, for a total value of $2,295.37.
• On Wednesday, April 8th, Didier Papadopoulos sold 826 shares of Joby Aviation stock. The stock was sold at an average price of $8.87, for a total value of $7,326.62.
• On Monday, April 6th, Didier Papadopoulos sold 3,394 shares of Joby Aviation stock. The stock was sold at an average price of $8.76, for a total value of $29,731.44.
• On Thursday, April 2nd, Didier Papadopoulos sold 12,965 shares of Joby Aviation stock. The stock was sold at an average price of $8.15, for a total transaction of $105,664.75.

Joby Aviation Price Performance

Shares of NYSE:JOBY traded down $0.34 during midday trading on Tuesday, hitting $9.33. The stock had a trading volume of 48,974,865 shares, compared to its average volume of 28,447,529. The company's 50-day moving average price is $9.84 and its 200-day moving average price is $11.28. The company has a market capitalization of $9.18 billion, a P/E ratio of -8.11 and a beta of 2.66. The company has a quick ratio of 22.05, a current ratio of 22.06 and a debt-to-equity ratio of 0.36. Joby Aviation, Inc. has a fifty-two week low of $7.75 and a fifty-two week high of $20.95.

Joby Aviation (NYSE:JOBY - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.09. Joby Aviation had a negative net margin of 1,232.62% and a negative return on equity of 60.54%. The business had revenue of $24.25 million for the quarter, compared to analyst estimates of $20.17 million. During the same quarter last year, the business posted ($0.11) EPS. As a group, equities research analysts predict that Joby Aviation, Inc. will post -0.83 EPS for the current fiscal year.

Institutional Investors Weigh In On Joby Aviation

Several hedge funds have recently modified their holdings of the company. GoalVest Advisory LLC boosted its holdings in shares of Joby Aviation by 2.1% during the 4th quarter. GoalVest Advisory LLC now owns 33,500 shares of the company's stock valued at $442,000 after acquiring an additional 700 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of Joby Aviation by 4.6% during the 3rd quarter. Thrivent Financial for Lutherans now owns 16,705 shares of the company's stock valued at $270,000 after acquiring an additional 736 shares in the last quarter. EP Wealth Advisors LLC boosted its holdings in shares of Joby Aviation by 2.2% during the 2nd quarter. EP Wealth Advisors LLC now owns 38,228 shares of the company's stock valued at $403,000 after acquiring an additional 821 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of Joby Aviation by 8.4% during the 4th quarter. Signaturefd LLC now owns 11,218 shares of the company's stock valued at $148,000 after acquiring an additional 872 shares in the last quarter. Finally, CIBC Private Wealth Group LLC boosted its holdings in shares of Joby Aviation by 38.7% during the 4th quarter. CIBC Private Wealth Group LLC now owns 4,256 shares of the company's stock valued at $56,000 after acquiring an additional 1,188 shares in the last quarter. Institutional investors and hedge funds own 52.85% of the company's stock.

Analysts Set New Price Targets

JOBY has been the topic of several research analyst reports. JPMorgan Chase & Co. reduced their price objective on Joby Aviation from $8.00 to $7.00 and set an "underweight" rating on the stock in a research note on Thursday, February 26th. Wall Street Zen upgraded Joby Aviation from a "strong sell" rating to a "sell" rating in a research report on Sunday, May 10th. HC Wainwright reiterated a "buy" rating and issued a $18.00 target price on shares of Joby Aviation in a research report on Thursday, March 12th. Needham & Company LLC reiterated a "buy" rating and issued a $18.00 target price on shares of Joby Aviation in a research report on Wednesday, May 6th. Finally, Canaccord Genuity Group decreased their target price on Joby Aviation from $15.50 to $11.50 and set a "hold" rating on the stock in a research report on Thursday, May 7th. Two investment 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. According to data from MarketBeat, the stock has a consensus rating of "Reduce" and a consensus price target of $13.06.

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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