Joby Aviation Insider Sergey Novikov Sells Shares

On January 2, 2025, Sergey Novikov, an insider at Joby Aviation, Inc. (NYSE:JOBY), made a notable move by selling 1,835 shares of the company. The shares were sold at an average price of $8.08 each, bringing the total transaction value to approximately $14,826.80. Following this sale, Novikov now owns a total of 45,434 shares valued at around $367,106.72, reflecting a decrease of 3.88% in his position. This transaction was officially reported in a filing with the Securities and Exchange Commission.

Current Stock Performance

As of Friday, JOBY stock was trading at $9.77. Joby Aviation has a market capitalization of $7.47 billion, with a P/E ratio standing at -13.96. The stock has exhibited volatility, with a beta of 2.32. Over the past year, it reached a low of $4.50 and a high of $9.82. The company’s short-term trend is indicated by a 50-day simple moving average of $7.18, while the 200-day simple moving average is $6.04.

Recent Earnings Report

On November 6, 2024, Joby Aviation announced its earnings for the previous quarter. The company reported an earnings per share (EPS) of ($0.21), missing analyst estimates of ($0.19) by $0.02. Revenue for the quarter was reported at $0.28 million, surpassing the expected $0.06 million. The net margin was significantly negative at -42,844.57%, and the return on equity also reflected a negative figure of -51.76%. Compared to the same quarter last year, when the EPS was ($0.13), the current fiscal year’s EPS is predicted to be -0.69 according to sell-side analysts.

Activity of Institutional Investors

In recent months, various hedge funds have actively traded shares of Joby Aviation. In the fourth quarter, Everence Capital Management Inc. acquired a new stake valued at approximately $142,000. Tidal Investments LLC increased its holdings by 13.7% in the third quarter, now owning 29,246 shares worth $147,000. Additionally, Geode Capital Management LLC raised its stake by 7.7%, holding 9,390,720 shares valued at $47,245,000 post-acquisition. Kensington Investment Counsel LLC and EP Wealth Advisors LLC also lifted their positions in Joby Aviation by 12.0% and 15.4%, respectively. As a result, institutional and hedge fund ownership now totals 52.85% of the company's stock.

Analyst Ratings and Price Targets

Several research analysts have provided their evaluations of Joby Aviation’s stock. HC Wainwright reiterated a “buy” rating with a price target of $9.00. Cantor Fitzgerald also maintained an “overweight” rating but set a higher price target of $10.00. Conversely, JPMorgan Chase lowered its target from $6.00 to $5.00 while assigning a “neutral” rating. Canaccord Genuity adjusted its price objective from $10.50 to $9.75, maintaining a “buy” recommendation. Finally, Needham & Company recently began coverage with a “buy” rating and an $8.00 price target. Overall, the consensus rating for Joby Aviation is a “Moderate Buy” with an average target price of $8.35.

About Joby Aviation

Joby Aviation, Inc. is a forward-thinking company focused on developing electric vertical takeoff and landing (eVTOL) aircraft. The company aims to optimize air transportation services, with plans to create an aerial ridesharing service alongside an app-based platform for booking rides.

Joby, Aviation, Shares