Joby Aviation, Inc. (NYSE:JOBY – Get Free Report) insider Kate Dehoff sold 14,240 shares of the firm’s stock in a transaction dated Tuesday, July 14th. The shares were sold at an average price of $7.73, for a total value of $110,075.20. Following the sale, the insider owned 180,179 shares of the company’s stock, valued at $1,392,783.67. This represents a 7.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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.
Kate Dehoff also recently made the following trade(s):
- On Monday, July 13th, Kate Dehoff sold 8,381 shares of Joby Aviation stock. The stock was sold at an average price of $7.53, for a total value of $63,108.93.
- On Thursday, July 2nd, Kate Dehoff sold 9,575 shares of Joby Aviation stock. The shares were sold at an average price of $8.92, for a total value of $85,409.00.
Joby Aviation Price Performance
Shares of NYSE JOBY opened at $7.89 on Wednesday. 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, Inc. has a fifty-two week low of $7.43 and a fifty-two week high of $20.95. The business has a 50 day moving average price of $9.82 and a two-hundred day moving average price of $10.46. The firm has a market cap of $7.77 billion, a PE ratio of -6.87 and a beta of 2.71.
Analysts Set New Price Targets
Several brokerages have issued reports on JOBY. Morgan Stanley cut their price objective on Joby Aviation from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 6th. Wall Street Zen upgraded Joby Aviation from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 10th. Weiss Ratings downgraded Joby Aviation from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, May 4th. Canaccord Genuity Group dropped their price target on Joby Aviation from $15.50 to $11.50 and set a “hold” rating on the stock in a research report on Thursday, May 7th. Finally, Needham & Company LLC restated a “buy” rating and set 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, three have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $13.64.
Check Out Our Latest Research Report on Joby Aviation
Joby Aviation News Roundup
Here are the key news stories impacting Joby Aviation this week:
- Positive Sentiment: Joby said its eVTOL aircraft passed an adverse-weather test and successfully simulated a propeller failure, reinforcing confidence in the safety and reliability of its air taxi platform. Joby’s eVTOL passes adverse weather test, simulates propeller failure
- Positive Sentiment: The company also highlighted testing that suggests its air taxi could complete a JFK-to-Manhattan trip in about seven minutes, a headline-grabbing milestone that underscores the potential speed advantage of Joby’s service model. Joby’s air taxi aces test, promises 7-minute JFK to Manhattan flights
- Neutral Sentiment: A market commentary piece argued that Joby is making visible progress, but investors still have to balance that progress against a long and expensive path to commercialization. JOBY Stock: Flying High or Overpriced Sci-Fi?
- Negative Sentiment: Insider selling by Eric Allison and Kate Dehoff may weigh on sentiment, even though the transactions were linked to tax withholding from equity vesting and, in one case, a pre-arranged trading plan. The sales reduced their ownership stakes and can still be viewed as a mild overhang for the stock.
Hedge Funds Weigh In On Joby Aviation
Hedge funds and other institutional investors have recently bought and sold shares of the stock. GoalVest Advisory LLC lifted its position in shares of Joby Aviation by 2.1% in the fourth quarter. GoalVest Advisory LLC now owns 33,500 shares of the company’s stock worth $442,000 after purchasing an additional 700 shares in the last quarter. EP Wealth Advisors LLC boosted its holdings in shares of Joby Aviation by 2.2% during the second quarter. EP Wealth Advisors LLC now owns 38,228 shares of the company’s stock worth $403,000 after purchasing an additional 821 shares during the period. Signaturefd LLC grew its position in Joby Aviation by 8.4% during the fourth quarter. Signaturefd LLC now owns 11,218 shares of the company’s stock valued at $148,000 after purchasing an additional 872 shares in the last quarter. CIBC Private Wealth Group LLC grew its position in Joby Aviation by 38.7% during the fourth quarter. CIBC Private Wealth Group LLC now owns 4,256 shares of the company’s stock valued at $56,000 after purchasing an additional 1,188 shares in the last quarter. Finally, Strs Ohio increased its stake in Joby Aviation by 2.5% in the 1st quarter. Strs Ohio now owns 50,000 shares of the company’s stock valued at $413,000 after buying an additional 1,200 shares during the period. 52.85% of the stock is currently owned by institutional investors and hedge funds.
Joby Aviation Company Profile
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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