Joby Aviation (NYSE:JOBY) Insider Eric Allison Sells 9,330 Shares

Joby Aviation, Inc. (NYSE:JOBY) insider Eric Allison sold 9,330 shares of the company’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $8.92, for a total value of $83,223.60. Following the completion of the sale, the insider directly owned 684,779 shares of the company’s stock, valued at approximately $6,108,228.68. This trade represents a 1.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Eric Allison also recently made the following trade(s):

• On Wednesday, May 6th, Eric Allison sold 74,844 shares of Joby Aviation stock. The stock was sold at an average price of $10.00, for a total value of $748,440.00.
• On Monday, April 13th, Eric Allison sold 27,698 shares of Joby Aviation stock. The shares were sold at an average price of $8.20, for a total value of $227,123.60.
• On Wednesday, April 8th, Eric Allison sold 826 shares of Joby Aviation stock. The shares were sold at an average price of $8.87, for a total value of $7,326.62.

Joby Aviation Stock Performance

Shares of JOBY opened at $8.66 on Tuesday. The company’s 50 day simple moving average is $9.94 and its 200-day simple moving average is $10.73. The firm has a market cap of $8.52 billion, a PE ratio of -7.62 and a beta of 2.71. Joby Aviation, Inc. has a 12-month low of $7.75 and a 12-month high of $20.95. The company has a current ratio of 22.06, a quick ratio of 22.05 and a debt-to-equity ratio of 0.36.

Joby Aviation (NYSE:JOBY) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.09. Joby Aviation had a negative net margin of 1,232.62% and a negative return on equity of 60.54%. The firm had revenue of $24.25 million during the quarter, compared to analysts’ expectations of $20.17 million. During the same quarter in the prior year, the business earned ($0.11) EPS. As a group, equities analysts predict that Joby Aviation, Inc. will post -0.83 EPS for the current year.

Analyst Ratings Changes

Several analysts have commented on JOBY shares. HC Wainwright reaffirmed a “buy” rating and set a $18.00 price objective on shares of Joby Aviation in a research note on Thursday, March 12th. Morgan Stanley dropped their target price on Joby Aviation from $15.00 to $13.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 6th. Canaccord Genuity Group decreased 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. Wall Street Zen upgraded shares of Joby Aviation from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 10th. Finally, Weiss Ratings downgraded shares of Joby Aviation from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, May 4th. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, Joby Aviation currently has a consensus rating of “Reduce” and a consensus price target of $13.64.

Key Joby Aviation News

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

• Positive Sentiment: Investors are buying into the possibility that Joby could start commercial air taxi operations this year, a major milestone that would validate the business model and potentially unlock new revenue streams. Joby Aviation Stock: Is It More Likely to Hit $15 or $5 This Year?
• Positive Sentiment: Recent coverage says Joby’s air taxi expansion is fueling investor excitement, helping push sentiment higher around the company’s long-term growth potential. Why Joby Aviation Stock Popped Today
• Positive Sentiment: Another article highlighted that Joby’s valuation is getting an additional boost, suggesting traders are still focused on future commercialization rather than current losses. Why Joby Aviation Stock Is Surging Today
• Neutral Sentiment: Several insiders, including CEO Joeben Bevirt and other executives, sold shares, but the filings say the sales were mainly to cover tax withholding tied to vesting equity awards rather than a change in conviction. SEC filing
• Neutral Sentiment: More insider sales were disclosed from Didier Papadopoulos, Eric Allison, Kate Dehoff, Rodrigo Brumana, Gregory Bowles, and Bonny W. Simi, including a Rule 10b5-1 sale, but the transactions were largely routine and tax-related. SEC filing
• Negative Sentiment: The biggest risk remains that Joby’s aircraft is not approved yet, so the stock could give back gains if regulatory progress takes longer than bulls expect. Article

Institutional Investors Weigh In On Joby Aviation

A number of institutional investors have recently added to or reduced their stakes in JOBY. Strategic Advocates LLC purchased a new position in shares of Joby Aviation during the 3rd quarter worth approximately $29,000. Fifth Third Bancorp lifted its holdings in shares of 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 during the period. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in shares of Joby Aviation in the fourth quarter valued at approximately $28,000. Ancora Advisors LLC acquired a new position in Joby Aviation during the third quarter worth $35,000. Finally, Pandora Wealth Inc. acquired a new position in Joby Aviation during the fourth quarter worth $32,000. Hedge funds and other institutional investors 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.