Joby Aviation, Inc. (NYSE:JOBY – Get Free Report) CFO Rodrigo Brumana sold 2,601 shares of Joby Aviation stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $8.92, for a total value of $23,200.92. Following the sale, the chief financial officer directly owned 84,139 shares in the company, valued at $750,519.88. The trade was a 3.00% 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.
Rodrigo Brumana also recently made the following trade(s):
- On Thursday, June 4th, Rodrigo Brumana sold 78,489 shares of Joby Aviation stock. The stock was sold at an average price of $11.30, for a total value of $886,925.70.
- On Wednesday, April 8th, Rodrigo Brumana sold 566 shares of Joby Aviation stock. The shares were sold at an average price of $8.87, for a total transaction of $5,020.42.
Joby Aviation Stock Performance
NYSE:JOBY opened at $8.12 on Wednesday. The stock has a market capitalization of $7.98 billion, a P/E ratio of -7.06 and a beta of 2.71. 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, Inc. has a 1 year low of $7.75 and a 1 year high of $20.95. The firm has a 50 day moving average of $9.93 and a 200-day moving average of $10.69.
Hedge Funds Weigh In On Joby Aviation
A number of large investors have recently bought and sold shares of the company. Fifth Third Bancorp boosted its stake in shares of Joby Aviation by 207.4% during the 4th quarter. Fifth Third Bancorp now owns 1,998 shares of the company’s stock worth $26,000 after buying an additional 1,348 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Joby Aviation by 284.8% in the second quarter. EverSource Wealth Advisors LLC now owns 2,540 shares of the company’s stock valued at $27,000 after acquiring an additional 1,880 shares during the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in Joby Aviation during the fourth quarter worth about $28,000. Strategic Advocates LLC bought a new stake in Joby Aviation during the third quarter worth about $29,000. Finally, Pandora Wealth Inc. acquired a new position in Joby Aviation during the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 52.85% of the company’s stock.
Trending Headlines about Joby Aviation
Here are the key news stories impacting Joby Aviation this week:
- Positive Sentiment: Recent coverage says investors are still bidding up Joby Aviation on hopes it can begin commercial air taxi operations this year, a major milestone that would validate the business model and open the door to future revenue. Joby Aviation Stock: Is It More Likely to Hit $15 or $5 This Year?
- Positive Sentiment: Another update highlighted that Joby’s air taxi expansion is fueling investor excitement and lifting sentiment around the company’s long-term growth potential. Why Joby Aviation Stock Popped Today
- Neutral Sentiment: Several executives, including CFO Rodrigo Brumana and CEO Joeben Bevirt, disclosed share sales. The company said these were mainly to cover tax withholding tied to vesting equity awards, which makes the transactions look more routine than conviction-driven. SEC filing
- Neutral Sentiment: Additional insider sales were reported from Didier Papadopoulos, Eric Allison, Kate Dehoff, Gregory Bowles, and Bonny W. Simi, including a pre-arranged Rule 10b5-1 sale. These were also described as tax-related and do not necessarily signal a fundamental change in the outlook. SEC filing
- Negative Sentiment: The key downside risk is that Joby’s aircraft is not yet approved for commercial service, so any delay in regulatory progress could cool the rally and pressure the stock. Article
Analyst Ratings Changes
JOBY has been the subject of several analyst reports. Wall Street Zen upgraded Joby Aviation from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 10th. HC Wainwright reissued 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 decreased their price objective on shares of Joby Aviation from $15.00 to $13.00 and set an “equal weight” rating for the company in a report on Wednesday, May 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $18.00 target price on shares of Joby Aviation in a research note on Wednesday, May 6th. Finally, Weiss Ratings lowered shares of Joby Aviation from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, May 4th. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $13.64.
View Our Latest Stock Report on Joby Aviation
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.
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