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JoeBen Bevirt, CEO and Chief Architect of Joby Aviation , Inc. (NYSE:JOBY), recently sold shares of the company, according to a filing with the Securities and Exchange Commission. On February 11, Bevirt sold 1,706 shares at an average price of $7.50 per share, amounting to a total transaction value of $12,795. This sale was made to cover taxes due upon the release and settlement of restricted stock units (RSUs), as required by the terms of the RSU award. The transaction comes as Joby, currently valued at $5.6 billion, approaches its next earnings release on February 19. According to InvestingPro analysis, the stock is currently trading near its Fair Value.
In addition to this sale, Bevirt acquired 4,564 shares of common stock on February 10 through the exercise of RSUs, although this transaction did not involve any cash exchange. Following these transactions, Bevirt directly owns 775,766 shares of Joby Aviation. The company maintains strong financial health indicators, with a current ratio of 16.12 and more cash than debt on its balance sheet. InvestingPro subscribers can access 15+ additional insights about JOBY’s financial position and growth prospects.
The filing also noted Bevirt’s indirect holdings through various trusts and family members, including the Jennifer Barchas Trust, Joby Trust, and JoeBen Bevirt 2020 Descendants Trust, among others. These trusts collectively hold millions of shares, indicating Bevirt’s substantial indirect stake in the company. The stock has shown significant momentum, posting a 46% gain over the past six months, though it remains volatile with a beta of 2.33.
In other recent news, Joby Aviation, a notable player in the aircraft manufacturing industry, has made significant amendments to its bylaws and changed voting rights. The company has also recently completed a maintenance training program with members of the U.S. Air Force. Analysts from Needham & Company and Canaccord Genuity have shown confidence in Joby Aviation’s market presence, with Needham lifting its stock target and Canaccord naming the company the "best capitalized eVTOL manufacturer." H.C. Wainwright has maintained its Buy rating for Joby Aviation, citing strong regulatory progress and industry leadership outlook. These are among the recent developments for Joby Aviation, which continues to make strides in the eVTOL market.
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