Joby Aviation (NYSE:JOBY) Shares Down 6.1% After Insider Selling

Key Points

• Shares fell 6.1% intraday to about $13.21 after news of insider selling, with mid‑day volume ~17.5M shares (down ~33% vs. average).
• Insider Didier Papadopoulos sold a total of 7,966 shares across Dec. 15–16 (1,979 at $14.08 and 5,987 at $14.99), roughly $117,600 in proceeds, reducing his stake in the company.
• Analysts are mixed but cautious: MarketBeat shows a consensus rating of "Reduce" with a $13.43 target, and Joby has negative EPS (losses) despite recent revenue growth and a $12.05B market cap.

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) shares traded down 6.1% on Wednesday following insider selling activity. The company traded as low as $13.18 and last traded at $13.2120. 17,512,161 shares traded hands during mid-day trading, a decline of 33% from the average session volume of 26,297,465 shares. The stock had previously closed at $14.07.

Specifically, insider Didier Papadopoulos sold 1,979 shares of the stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $14.08, for a total value of $27,864.32. Following the sale, the insider owned 101,779 shares of the company's stock, valued at approximately $1,433,048.32. This represents a 1.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Didier Papadopoulos sold 5,987 shares of the business's stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $14.99, for a total value of $89,745.13. Following the completion of the sale, the insider owned 103,758 shares of the company's stock, valued at $1,555,332.42. The trade was a 5.46% decrease in their position. The disclosure for this sale is available in the SEC filing.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Needham & Company LLC restated a "buy" rating and set a $22.00 price objective on shares of Joby Aviation in a research note on Thursday, November 6th. Zacks Research raised shares of Joby Aviation from a "strong sell" rating to a "hold" rating in a report on Tuesday, November 4th. JPMorgan Chase & Co. upped their price objective on shares of Joby Aviation from $7.00 to $8.00 and gave the stock an "underweight" rating in a research report on Friday, October 31st. The Goldman Sachs Group started coverage on Joby Aviation in a report on Monday, December 1st. They issued a "sell" rating and a $10.00 price objective on the stock. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Joby Aviation in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Joby Aviation presently has a consensus rating of "Reduce" and a consensus target price of $13.43.

Joby Aviation Stock Performance

The company's 50-day simple moving average is $15.35 and its 200 day simple moving average is $14.36. The company has a market cap of $12.05 billion, a PE ratio of -9.86 and a beta of 2.53.

Joby Aviation (NYSE:JOBY - Get Free Report) last announced its quarterly earnings data on Wednesday, November 5th. The company reported ($0.48) 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 revenue was up 7962.1% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.21) earnings per share. Analysts forecast that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Institutional Investors Weigh In On Joby Aviation

Hedge funds have recently added to or reduced their stakes in the company. Asset Planning Inc raised its holdings in Joby Aviation by 70.0% during the third quarter. Asset Planning Inc now owns 1,700 shares of the company's stock worth $27,000 after purchasing an additional 700 shares during the last quarter. Strategic Advocates LLC purchased a new stake in shares of Joby Aviation in the third quarter worth about $29,000. Canton Hathaway LLC purchased a new position in shares of Joby Aviation in the third quarter valued at $29,000. Hilltop National Bank acquired a new stake in shares of Joby Aviation during the third quarter worth approximately $32,000. Finally, Ancora Advisors LLC acquired a new position in shares of Joby Aviation in the 3rd quarter worth approximately $35,000. Institutional investors and hedge funds own 52.85% of the company's stock.

Joby Aviation Company Profile

Joby Aviation, Inc, a vertically integrated air mobility company, engages in building an electric vertical takeoff and landing aircraft optimized to deliver air transportation as a service. The company intends to build an aerial ridesharing service, as well as developing an application-based platform that will enable consumers to book rides.

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