Insider Selling: Joby Aviation (NYSE:JOBY) Insider Sells $415,987.20 in Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Kate Dehoff sold 28,260 shares of the firm’s stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of $14.72, for a total value of $415,987.20. Following the transaction, the insider directly owned 149,369 shares of the company’s stock, valued at approximately $2,198,711.68. This represents a 15.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Tuesday, January 13th, Kate Dehoff sold 7,092 shares of Joby Aviation stock. The shares were sold at an average price of $14.84, for a total value of $105,245.28.
• On Friday, January 2nd, Kate Dehoff sold 10,484 shares of Joby Aviation stock. The shares were sold at an average price of $13.51, for a total value of $141,638.84.

Joby Aviation Price Performance

Joby Aviation stock opened at $15.42 on Friday. The stock’s 50 day moving average is $14.56 and its 200 day moving average is $15.20. Joby Aviation, Inc. has a one year low of $4.96 and a one year high of $20.95. The firm has a market cap of $14.06 billion, a P/E ratio of -11.51 and a beta of 2.56.

Joby Aviation (NYSE:JOBY) last released its earnings results on Wednesday, November 5th. The company reported ($0.48) earnings per share 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 analyst estimates of $0.02 million. The business’s revenue for the quarter was up 7962.1% on a year-over-year basis. During the same period in the previous year, the company earned ($0.21) earnings per share. Equities analysts anticipate that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Joby Aviation

Hedge funds and other institutional investors have recently modified their holdings of the company. CWM LLC lifted its holdings in shares of Joby Aviation by 8.1% in the 2nd quarter. CWM LLC now owns 9,156 shares of the company’s stock worth $97,000 after purchasing an additional 689 shares in the last quarter. GPS Wealth Strategies Group LLC raised its holdings in Joby Aviation by 22.5% during the third quarter. GPS Wealth Strategies Group LLC now owns 3,794 shares of the company’s stock worth $61,000 after buying an additional 697 shares during the last quarter. Asset Planning Inc lifted its stake in shares of Joby Aviation by 70.0% in the third quarter. Asset Planning Inc now owns 1,700 shares of the company’s stock valued at $27,000 after buying an additional 700 shares in the last quarter. GoalVest Advisory LLC grew its holdings in shares of Joby Aviation by 2.1% during the fourth quarter. GoalVest Advisory LLC now owns 33,500 shares of the company’s stock valued at $442,000 after buying an additional 700 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its position in shares of Joby Aviation by 4.6% during the third quarter. Thrivent Financial for Lutherans now owns 16,705 shares of the company’s stock worth $270,000 after acquiring an additional 736 shares in the last quarter. Institutional investors own 52.85% of the company’s stock.

Wall Street Analyst Weigh In

JOBY has been the topic of a number of research analyst reports. JPMorgan Chase & Co. upped their price target on shares of Joby Aviation from $7.00 to $8.00 and gave the company an “underweight” rating in a research report on Friday, October 31st. Needham & Company LLC restated a “buy” rating and set a $22.00 target price on shares of Joby Aviation in a research report on Thursday, November 6th. HC Wainwright reiterated a “neutral” rating on shares of Joby Aviation in a report on Monday, November 24th. Morgan Stanley boosted their price target on Joby Aviation from $7.00 to $15.00 and gave the company an “equal weight” rating in a research note on Thursday, October 9th. Finally, The Goldman Sachs Group initiated coverage on shares of Joby Aviation in a research report on Monday, December 1st. They set a “sell” rating and a $10.00 price objective for the company. One 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, the company has an average rating of “Reduce” and a consensus target price of $13.43.

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.