Joby Aviation (NYSE:JOBY) CFO Rodrigo Brumana Sells 8,898 Shares of Stock

Joby Aviation, Inc. (NYSE:JOBY) CFO Rodrigo Brumana sold 8,898 shares of the company’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $6.89, for a total value of $61,307.22. Following the sale, the chief financial officer owned 110,831 shares in the company, valued at $763,625.59. The trade was a 7.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through 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.

Rodrigo Brumana also recently made the following trade(s):

• On Wednesday, September 2nd, Rodrigo Brumana sold 37,831 shares of Joby Aviation stock. The shares were sold at an average price of $6.77, for a total value of $256,115.87.
• On Thursday, July 2nd, Rodrigo Brumana sold 2,601 shares of Joby Aviation stock. The stock was sold at an average price of $8.92, for a total value of $23,200.92.

Joby Aviation Stock Up 0.7%

NYSE:JOBY opened at $6.87 on Friday. Joby Aviation, Inc. has a twelve month low of $6.61 and a twelve month high of $19.98. The firm has a market capitalization of $6.80 billion, a price-to-earnings ratio of -6.94 and a beta of 2.68. The company has a quick ratio of 17.98, a current ratio of 17.98 and a debt-to-equity ratio of 0.40. The stock’s 50 day moving average price is $7.73 and its two-hundred day moving average price is $8.99.

Joby Aviation (NYSE:JOBY) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.02). Joby Aviation had a negative net margin of 755.11% and a negative return on equity of 55.29%. The company had revenue of $38.64 million during the quarter, compared to analyst estimates of $30.20 million. During the same period in the previous year, the company posted ($0.41) EPS. The company’s quarterly revenue was up 257493.3% compared to the same quarter last year. Equities research analysts expect that Joby Aviation, Inc. will post -1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on JOBY. Needham & Company LLC cut their price target on shares of Joby Aviation from $18.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Canaccord Genuity Group reduced their price target on Joby Aviation from $15.50 to $11.50 and set a “hold” rating for the company in a report on Thursday, May 7th. Barclays raised Joby Aviation to a “hold” rating in a research report on Wednesday, July 29th. HC Wainwright restated a “buy” rating on shares of Joby Aviation in a research note on Thursday, August 6th. Finally, Weiss Ratings raised Joby Aviation from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 14th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Joby Aviation currently has a consensus rating of “Reduce” and an average price target of $13.81.

Hedge Funds Weigh In On Joby Aviation

Several institutional investors and hedge funds have recently made changes to their positions in JOBY. Corient Private Wealth LP increased its stake in shares of Joby Aviation by 68.6% during the second quarter. Corient Private Wealth LP now owns 34,306 shares of the company’s stock worth $306,000 after purchasing an additional 13,955 shares during the period. HighTower Advisors LLC boosted its stake in Joby Aviation by 3.5% in the 2nd quarter. HighTower Advisors LLC now owns 920,410 shares of the company’s stock valued at $8,210,000 after purchasing an additional 30,928 shares during the period. California State Teachers Retirement System grew its holdings in Joby Aviation by 806.6% in the 2nd quarter. California State Teachers Retirement System now owns 2,568,987 shares of the company’s stock valued at $22,915,000 after buying an additional 2,285,620 shares in the last quarter. Ameritas Advisory Services LLC bought a new position in Joby Aviation during the 2nd quarter worth $60,000. Finally, Echo45 Advisors LLC bought a new position in Joby Aviation during the 2nd quarter worth $140,000. Institutional investors and hedge funds own 52.85% of the company’s stock.

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.