Joby Aviation CEO sells shares worth $13,600

JoeBen Bevirt, CEO and Chief Architect of Joby Aviation Inc. (NYSE:JOBY), recently made a notable transaction involving the company's common stock. According to a recent SEC filing, Bevirt sold 2,349 shares on April 8, 2025, at a price of $5.79 per share, amounting to a total of $13,600. This sale was conducted to cover taxes related to the release and settlement of restricted stock units (RSUs), as outlined in the terms of the RSU award. The stock currently trades at $6.26, with InvestingPro analysis indicating the company appears overvalued relative to its Fair Value.

On April 7, 2025, Bevirt also acquired 4,564 shares through the exercise of RSUs, although this transaction did not involve any cash exchange, as the shares were acquired at no cost. Following these transactions, Bevirt holds a direct ownership of 832,999 shares in Joby Aviation, which represents a portion of the company's $4.2 billion market capitalization. The stock has shown significant volatility, with a beta of 2.35 and a 52-week range of $4.50 to $10.72.

In addition to his direct holdings, Bevirt has significant indirect holdings through various trusts. These include 15,5737 shares held by the Jennifer Barchas Trust, 60,628,414 shares by the Joby Trust, 32,275,793 shares by the JoeBen Bevirt 2020 Descendants Trust, 189,109 shares by his spouse, and 83,666 shares by the JoeBen Bevirt 2022 GRAT Trust. InvestingPro analysis reveals the company maintains a weak financial health score, with detailed insights and additional ProTips available in the comprehensive Pro Research Report.

In other recent news, Joby Aviation reported a net loss of $246 million for the fourth quarter of 2024, with earnings per share (EPS) of -0.34, missing the forecasted EPS of -0.19. Despite this earnings miss, the company emphasized its continued advancements in product development and strategic partnerships, planning to begin FAA TIA flight testing within the next 12 months. Joby Aviation has also expanded its fleet by delivering its second aircraft to the Department of Defense's Edwards Air Force Base, bringing the total to five aircraft. Additionally, the company plans to deliver an aircraft to Dubai by mid-2025, marking a significant step in its expansion efforts.

Cantor Fitzgerald maintained its Overweight rating on Joby Aviation with a $9.00 price target, expressing a long-term bullish view on the company's prospects in the eVTOL industry. The analyst highlighted Joby's strategic partnerships with Delta Air Lines (NYSE:DAL), Toyota (NYSE:TM), and Uber (NYSE:UBER) as crucial for its path toward commercialization. Joby Aviation aims to carry its first passengers between the second half of 2025 and the first half of 2026, aligning with its ambitions to lead in the eVTOL sector. The company's balance sheet remains strong, with $933 million in cash and short-term investments at the year-end, bolstered by significant equity offerings. These developments reflect Joby's ongoing efforts to achieve FAA Type Certification and establish a foothold in the urban air mobility market.

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