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JoeBen Bevirt, CEO and Chief Architect of Joby Aviation , Inc. (NYSE:JOBY), recently made a significant sale of company stock. According to a Form 4 filing with the Securities and Exchange Commission, Bevirt sold 10,785 shares of Joby Aviation common stock on February 13, 2025. The shares were sold at a price of $7.43 each, amounting to a total transaction value of $80,132. The stock, currently trading at $7.83, has shown impressive momentum with a 53% gain over the past six months, according to InvestingPro data.
The sale was part of a series of transactions reported by Bevirt. On February 12, 2025, he acquired 29,761 shares of common stock through the exercise of Restricted Stock Units (RSUs) at no cost. This acquisition increased his direct ownership to 803,821 shares. However, the subsequent sale of shares to cover taxes, as required by the terms of the RSU award, resulted in a post-transaction total of 793,036 shares directly owned by Bevirt.
In addition to his direct holdings, Bevirt maintains significant indirect ownership through various trusts. These include the Joby Trust, the JoeBen Bevirt 2020 Descendants Trust, and the JoeBen Bevirt 2022 GRAT Trust, among others.
This series of transactions highlights Bevirt's ongoing involvement and investment in Joby Aviation as the company continues to develop its electric vertical takeoff and landing (eVTOL) aircraft technology.
In other recent news, Joby Aviation, a prominent player in the aircraft manufacturing industry, has made significant amendments to its bylaws, including changes to voting rights and procedures for stockholder meetings. These modifications align with regulatory compliance and best practices for corporate governance. Meanwhile, the company is also making strides in the eVTOL sector, as evidenced by its successful completion of a maintenance training program with members of the U.S. Air Force.
In the realm of financial analysis, Needham & Company has raised its price target for Joby Aviation from $8.00 to $10.00, maintaining a Buy rating on the stock. This adjustment reflects Joby's improved financial position and anticipated international launch in the United Arab Emirates. Similarly, Canaccord Genuity has increased its price target on Joby's shares to $11.50, citing the company's strong position in the eVTOL sector.
Furthermore, H.C. Wainwright has maintained its Buy rating and $9.00 price target for Joby Aviation, commending the company's regulatory progress and potential leadership in the eVTOL industry. These recent developments highlight Joby Aviation's ongoing growth and potential in the evolving aircraft manufacturing sector.
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