Joby Aviation (NYSE:JOBY) Insider Sells 9,575 Shares of Stock

Key Points

• Insider selling: Joby Aviation insider Kate Dehoff sold 9,575 shares on July 2 at an average price of $8.92, totaling about $85,409. The filing says the sale was to cover tax withholding obligations tied to vested equity awards.
• Stock performance and trading: JOBY rose 5.2% to $8.94 on unusually heavy volume, though it remains well below its 52-week high of $20.95. The stock has been volatile, with a beta of 2.71 and a market cap of about $8.79 billion.
• Mixed fundamentals and analyst views: Joby beat quarterly EPS and revenue estimates in its latest results, but analysts still expect a full-year loss and maintain a cautious consensus rating of “Reduce”. Recent broker updates were split between buy, hold, and sell calls.

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) insider Kate Dehoff sold 9,575 shares of the company's stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $8.92, for a total transaction of $85,409.00. Following the transaction, the insider owned 186,735 shares in the company, valued at approximately $1,665,676.20. The trade was a 4.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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, April 14th, Kate Dehoff sold 14,295 shares of Joby Aviation stock. The shares were sold at an average price of $8.73, for a total transaction of $124,795.35.
• On Monday, April 13th, Kate Dehoff sold 8,310 shares of Joby Aviation stock. The stock was sold at an average price of $8.20, for a total transaction of $68,142.00.
• On Wednesday, April 8th, Kate Dehoff sold 667 shares of Joby Aviation stock. The stock was sold at an average price of $8.87, for a total value of $5,916.29.

Joby Aviation Trading Up 5.2%

NYSE JOBY traded up $0.45 on Monday, reaching $8.94. The company had a trading volume of 55,744,434 shares, compared to its average volume of 30,442,541. Joby Aviation, Inc. has a 52 week low of $7.75 and a 52 week high of $20.95. The stock's 50 day moving average is $9.94 and its 200-day moving average is $10.73. The company has a quick ratio of 22.05, a current ratio of 22.06 and a debt-to-equity ratio of 0.36. The stock has a market cap of $8.79 billion, a price-to-earnings ratio of -7.77 and a beta of 2.71.

Joby Aviation (NYSE:JOBY - Get Free Report) last posted its 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. The company had revenue of $24.25 million during the quarter, compared to analyst estimates 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 period in the previous year, the company earned ($0.11) EPS. Equities analysts predict that Joby Aviation, Inc. will post -0.83 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently commented on JOBY. Weiss Ratings downgraded 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 target on Joby Aviation from $15.00 to $13.00 and set an "equal weight" rating for the company in a report on Wednesday, May 6th. Needham & Company LLC reiterated a "buy" rating and set a $18.00 price objective on shares of Joby Aviation in a report on Wednesday, May 6th. Canaccord Genuity Group decreased their price objective on Joby Aviation from $15.50 to $11.50 and set a "hold" rating for the company in a research report on Thursday, May 7th. Finally, HC Wainwright reissued a "buy" rating and set a $18.00 target price on shares of Joby Aviation in a research note on Thursday, March 12th. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and an average price target of $13.64.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of JOBY. Segall Bryant & Hamill LLC bought a new position in shares of Joby Aviation during the first quarter valued at $131,000. J. Derek Lewis & Associates Inc. bought a new stake in shares of Joby Aviation in the first quarter worth $121,000. Western Wealth Management LLC acquired a new stake in Joby Aviation in the first quarter valued at $37,000. Edgestream Partners L.P. acquired a new stake in Joby Aviation in the first quarter valued at $1,189,000. Finally, Arkadios Wealth Advisors bought a new position in Joby Aviation during the 1st quarter worth $90,000. 52.85% of the stock is currently owned by institutional investors.

Joby Aviation News Summary

Here are the key news stories impacting Joby Aviation this week:

• Positive Sentiment: Investor excitement increased after reports highlighted Toyota’s support for Joby’s all-electric air taxis and the company’s progress toward vertical flight and production readiness. Toyota backs Joby’s all-electric air taxis as production aircraft prepare for vertical flight
• Positive Sentiment: Joby also announced it is expanding manufacturing capacity in California and Ohio and adding aircraft to its fleet, reinforcing the narrative that it is scaling operations ahead of commercialization. Joby Expands Manufacturing Capacity in California and Ohio, Adds New Aircraft to Its Fleet
• Positive Sentiment: Several market commentaries pointed to a strong Monday rally, saying Joby’s valuation got another lift as traders focused on expansion and air taxi growth prospects. Why Joby Aviation Stock Is Surging Today
• Neutral Sentiment: Multiple executives and insiders, including the CEO, CFO, and other senior leaders, sold shares this week, but the filings say the sales were primarily to cover tax withholding tied to vesting equity awards or made under a pre-arranged trading plan, which makes the activity less concerning than open-market selling.

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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