Insider Selling: Joby Aviation (NYSE:JOBY) CEO Sells $93,944.55 in Stock

Joby Aviation, Inc. (NYSE:JOBY) CEO JoeBen Bevirt sold 15,789 shares of Joby Aviation stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $5.95, for a total value of $93,944.55. Following the sale, the chief executive officer directly owned 254,519 shares in the company, valued at $1,514,388.05. The trade was a 5.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Joeben Bevirt also recently made the following trade(s):

• On Tuesday, September 15th, JoeBen Bevirt sold 606,667 shares of Joby Aviation stock. The stock was sold at an average price of $6.19, for a total value of $3,755,268.73.

Joby Aviation Price Performance

Joby Aviation stock opened at $5.75 on Thursday. The company has a debt-to-equity ratio of 0.40, a current ratio of 17.98 and a quick ratio of 17.98. The company has a market capitalization of $5.69 billion, a PE ratio of -5.81 and a beta of 2.66. Joby Aviation, Inc. has a one year low of $5.58 and a one year high of $18.77. The business has a 50 day simple moving average of $6.93 and a 200 day simple moving average of $8.37.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings results 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 prior year, the firm earned ($0.41) EPS. Joby Aviation’s quarterly revenue was up 257493.3% compared to the same quarter last year. On average, sell-side analysts forecast that Joby Aviation, Inc. will post -1 EPS for the current fiscal year.

Key Stories Impacting Joby Aviation

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

• Positive Sentiment: Joby’s flight operations are adopting BitRipple’s LT3 connectivity system, which combines satellite and cellular networks for real-time, flight-critical telemetry and monitoring. The deployment supports the reliability and operational infrastructure needed for advanced air mobility. BitRipple LT3 Deployed Across Joby Flight Operations
• Positive Sentiment: ARK Invest, led by Cathie Wood, continued to invest in Joby and other flying-taxi companies. The buying provides a favorable signal from a high-profile growth investor, although it does not change Joby’s near-term certification and cash-burn risks. Cathie Wood Bets Big on Flying Taxis
• Neutral Sentiment: A long-term investment analysis argues that JOBY could have substantial upside by 2029 if it secures regulatory approval, launches commercial flights and scales production. However, Joby remains a speculative, loss-making company with no commercial air-taxi service yet, so the projection is highly dependent on execution. Prediction: Here’s What a $5,000 Investment in Joby Aviation Will Be Worth in 3 Years
• Neutral Sentiment: Several insiders, including CEO JoeBen Bevirt, CFO Rodrigo Brumana, Gregory Bowles, Sergey Novikov, Bonny Simi, Kate Dehoff and others, reported share sales. Some transactions were conducted under Rule 10b5-1 plans or to cover tax withholding, limiting their significance, but the concentration of sales may weigh on investor sentiment.
• Negative Sentiment: The $116.9 million verdict is the dominant near-term overhang. It could reduce Joby’s cash runway, increase legal costs and distract management as the company works toward aircraft certification, manufacturing scale-up and commercial operations. Joby Aviation Hit With $116.9 Million Verdict in Trade Secrets Lawsuit

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on JOBY. Cantor Fitzgerald reiterated a “neutral” rating on shares of Joby Aviation in a research report on Monday, September 21st. Susquehanna set a $18.00 price target on shares of Joby Aviation in a research report on Thursday, August 6th. Wall Street Zen lowered shares of Joby Aviation from a “sell” rating to a “strong sell” rating in a report on Saturday, August 8th. Needham & Company LLC cut their target price 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. Finally, Barclays raised Joby Aviation to a “hold” rating in a report on Wednesday, July 29th. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $13.81.

Hedge Funds Weigh In On Joby Aviation

Large investors have recently made changes to their positions in the company. Renaissance Technologies LLC increased its position in Joby Aviation by 194.5% in the first quarter. Renaissance Technologies LLC now owns 4,005,200 shares of the company’s stock worth $33,083,000 after purchasing an additional 2,645,200 shares during the period. Clear Street Group Inc. boosted its stake in shares of Joby Aviation by 59.9% in the 4th quarter. Clear Street Group Inc. now owns 3,593,043 shares of the company’s stock valued at $47,428,000 after purchasing an additional 1,346,205 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Joby Aviation by 48.1% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,679,515 shares of the company’s stock valued at $22,133,000 after purchasing an additional 870,244 shares during the last quarter. Amova Asset Management Americas Inc. grew its position in shares of Joby Aviation by 48.1% during the 1st quarter. Amova Asset Management Americas Inc. now owns 2,678,495 shares of the company’s stock worth $22,124,000 after buying an additional 870,244 shares during the period. Finally, Norges Bank acquired a new stake in shares of Joby Aviation during the 4th quarter worth approximately $32,269,000. Institutional investors and hedge funds own 52.85% of the company’s stock.

About Joby Aviation

Joby Aviation, Inc (NYSE: JOBY) is an aviation company developing all-electric vertical takeoff and landing (eVTOL) aircraft for commercial passenger transportation. Its aircraft are designed to take off and land vertically like a helicopter while providing quieter, lower-emission transportation for short urban and regional trips.

The company is pursuing an integrated air-taxi business model that includes designing and manufacturing its aircraft, operating passenger services, and developing the software and infrastructure needed to support aerial mobility.