Joby Aviation slides 11.9% as insider-sale filing adds to dilution concerns

Joby Aviation (JOBY) is down 11.9% today. Here is some analysis on what might have caused this price movement.

Analysis: The drop appears tied to fresh selling-pressure signals from an insider sale disclosure and lingering investor sensitivity to share supply after Joby’s large early-2026 equity raise and convertible note financing. With the stock already volatile, even routine insider-selling paperwork can amplify downside moves when traders are focused on dilution and hedging-related flows.

Details:

A Form 144 filing outlined planned brokered sales tied to equity awards and also listed recent open-market share sales by CFO Rodrigo Brumana, including a sale dated June 2, 2026.

In its Q1 2026 Form 10-Q, Joby disclosed it completed an underwritten common-stock issuance of 52,863,437 shares at $11.35 per share (closing February 2, 2026), raising net proceeds of $576.3 million.

The same filing described a separate “delta offering” of 5,286,343 borrowed shares connected to the company’s 2032 convertible notes, a structure that can be associated with hedging activity and incremental trading supply.

Joby’s Form 10-Q also showed Q1 2026 revenue and described it as primarily coming from passenger transportation activity through its Blade subsidiary, underscoring that the core eVTOL commercialization story remains forward-looking.

Sources:

SEC, Joby Aviation Investor Relations, Nasdaq

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$JOBY Insider Trading Activity

$JOBY insiders have traded $JOBY stock on the open market 89 times in the past 6 months. Of those trades, 2 have been purchases and 87 have been sales.

Here’s a breakdown of recent trading of $JOBY stock by insiders over the last 6 months:

JOEBEN BEVIRT (CEO and Chief Architect) has made 0 purchases and 17 sales selling 2,021,275 shares for an estimated $20,248,767.
PAUL CAHILL SCIARRA sold 416,666 shares for an estimated $5,008,325
BONNY W SIMI (President of Operations) has made 0 purchases and 9 sales selling 131,208 shares for an estimated $1,727,310.
KATE DEHOFF (See Remarks) has made 0 purchases and 13 sales selling 116,372 shares for an estimated $1,319,060.
ERIC ALLISON (Chief Product Officer) has made 0 purchases and 9 sales selling 110,954 shares for an estimated $1,270,303.
DIDIER PAPADOPOULOS (President of Aircraft OEM) has made 0 purchases and 19 sales selling 74,481 shares for an estimated $839,606.
GREGORY BOWLES (Chief Policy Officer) has made 0 purchases and 14 sales selling 51,411 shares for an estimated $546,276.
RODRIGO BRUMANA (Chief Financial Officer) has made 0 purchases and 5 sales selling 4,597 shares for an estimated $45,024.
MICHAEL N. JR. THOMPSON has made 2 purchases buying 1,100 shares for an estimated $14,564 and 0 sales.

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.

$JOBY Hedge Fund Activity

We have seen 315 institutional investors add shares of $JOBY stock to their portfolio, and 219 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

D. E. SHAW & CO., INC. added 8,557,106 shares (+241.1%) to their portfolio in Q4 2025, for an estimated $112,953,799
BLACKROCK, INC. added 6,809,994 shares (+17.1%) to their portfolio in Q1 2026, for an estimated $56,250,550
CITIGROUP INC added 3,724,233 shares (+1888.4%) to their portfolio in Q1 2026, for an estimated $30,762,164
DELTA AIR LINES, INC. added 3,546,481 shares (+32.1%) to their portfolio in Q1 2026, for an estimated $29,293,933
SQUAREPOINT OPS LLC added 3,154,490 shares (+603.1%) to their portfolio in Q1 2026, for an estimated $26,056,087
GHISALLO CAPITAL MANAGEMENT LLC added 2,829,666 shares (+943.2%) to their portfolio in Q1 2026, for an estimated $23,373,041
PRICE T ROWE ASSOCIATES INC /MD/ removed 2,715,293 shares (-80.2%) from their portfolio in Q1 2026, for an estimated $22,428,320

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$JOBY Price Targets

Multiple analysts have issued price targets for $JOBY recently. We have seen 5 analysts offer price targets for $JOBY in the last 6 months, with a median target of $13.0.

Here are some recent targets:

Austin Moeller from Canaccord Genuity set a target price of $11.5 on 05/07/2026
Chris Pierce from Needham set a target price of $18.0 on 05/06/2026
Kristine Liwag from Morgan Stanley set a target price of $13.0 on 05/06/2026
Amit Dayal from HC Wainwright & Co. set a target price of $18.0 on 02/26/2026
Bill Peterson from JP Morgan set a target price of $7.0 on 02/26/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.