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In recent transactions disclosed by Joby Aviation , Inc. (NYSE:JOBY), a $5.35 billion market cap company whose stock has shown significant volatility with a 42% gain over the past six months, CEO and Chief Architect JoeBen Bevirt sold shares amounting to $10,906. The sale involved 1,655 shares at a price of $6.59 per share on March 5, 2025. This transaction was made to cover taxes due upon the release and settlement of restricted stock units (RSUs). According to InvestingPro analysis, the stock is currently trading above its Fair Value.
Additionally, on March 4, 2025, Bevirt acquired 4,564 shares through the exercise of RSUs, although these were acquired at no cost. Following these transactions, Bevirt’s direct ownership stands at 795,945 shares. Indirect holdings, through various trusts and his spouse, include significant additional shares. InvestingPro subscribers can access 13 additional key insights about JOBY, including detailed analysis of its financial health and growth prospects through the comprehensive Pro Research Report.
In other recent news, Joby Aviation reported a significant net loss of $246 million for the fourth quarter of 2024, with earnings per share (EPS) at -0.34, missing the forecasted -0.19. Despite the earnings miss, the company continues to make strides in product development and strategic partnerships, including plans to begin FAA TIA flight testing within the next 12 months. Joby Aviation also raised $350 million through equity offerings in October and December, bolstering its cash reserves to $933 million by year-end. The company is making progress in expanding its manufacturing capabilities, with plans to deliver its first aircraft to Dubai by mid-2025. Analysts from firms like Cantor Fitzgerald and H.C. Wainwright have shown interest in Joby’s ongoing relationship with the Department of Defense and its unique rotor design. Joby Aviation’s strategic direction and future potential have garnered positive reactions from investors, despite the current financial loss. The company is also exploring potential aircraft sales models alongside direct operations as it prepares for future commercial endeavors.
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