Insider Selling: Joby Aviation (NYSE:JOBY) Insider Sells 1,975 Shares of Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Didier Papadopoulos sold 1,975 shares of Joby Aviation stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $9.42, for a total value of $18,604.50. Following the transaction, the insider directly owned 148,455 shares in the company, valued at $1,398,446.10. The trade was a 1.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 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.

Didier Papadopoulos also recently made the following trade(s):

• On Monday, June 15th, Didier Papadopoulos sold 5,999 shares of Joby Aviation stock. The stock was sold at an average price of $9.83, for a total value of $58,970.17.
• On Thursday, April 9th, Didier Papadopoulos sold 271 shares of Joby Aviation stock. The stock was sold at an average price of $8.47, for a total value of $2,295.37.
• On Wednesday, April 8th, Didier Papadopoulos sold 826 shares of Joby Aviation stock. The stock was sold at an average price of $8.87, for a total value of $7,326.62.
• On Monday, April 6th, Didier Papadopoulos sold 3,394 shares of Joby Aviation stock. The stock was sold at an average price of $8.76, for a total value of $29,731.44.
• On Thursday, April 2nd, Didier Papadopoulos sold 12,965 shares of Joby Aviation stock. The stock was sold at an average price of $8.15, for a total value of $105,664.75.

Joby Aviation Trading Down 3.5%

JOBY traded down $0.34 during midday trading on Tuesday, hitting $9.33. 48,974,865 shares of the company were exchanged, compared to its average volume of 28,447,529. The firm has a market capitalization of $9.18 billion, a P/E ratio of -8.11 and a beta of 2.66. Joby Aviation, Inc. has a 1-year low of $7.75 and a 1-year high of $20.95. The firm’s 50 day moving average price is $9.84 and its 200-day moving average price is $11.28. The company has a quick ratio of 22.05, a current ratio of 22.06 and a debt-to-equity ratio of 0.36.

Joby Aviation (NYSE:JOBY) last announced its earnings results on Tuesday, May 5th. The company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.09. The firm had revenue of $24.25 million for the quarter, compared to the consensus estimate 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 business earned ($0.11) EPS. As a group, equities analysts forecast that Joby Aviation, Inc. will post -0.83 EPS for the current fiscal year.

Institutional Trading of Joby Aviation

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fifth Third Bancorp increased its position in Joby Aviation by 207.4% in the 4th quarter. Fifth Third Bancorp now owns 1,998 shares of the company’s stock valued at $26,000 after buying an additional 1,348 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in Joby Aviation by 284.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,540 shares of the company’s stock valued at $27,000 after buying an additional 1,880 shares in the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in Joby Aviation in the 4th quarter valued at about $28,000. Strategic Advocates LLC bought a new stake in Joby Aviation in the 3rd quarter valued at about $29,000. Finally, Pandora Wealth Inc. bought a new stake in Joby Aviation in the 4th quarter valued at about $32,000. 52.85% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Canaccord Genuity Group dropped their price objective on Joby Aviation from $15.50 to $11.50 and set a “hold” rating on the stock in a research note on Thursday, May 7th. JPMorgan Chase & Co. dropped their price objective on Joby Aviation from $8.00 to $7.00 and set an “underweight” rating on the stock in a research note on Thursday, February 26th. Oppenheimer set a $18.00 price objective on Joby Aviation in a research note on Thursday, February 26th. Weiss Ratings downgraded Joby Aviation from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 4th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $18.00 price objective on shares of Joby Aviation in a research note on Wednesday, May 6th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $13.06.

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.