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Kate DeHoff, General Counsel and Corporate Secretary at Joby Aviation , Inc. (NYSE:JOBY), recently sold 1,969 shares of the company’s common stock. The sale, executed on March 6, 2025, was part of a pre-established 10b5-1 trading plan. The $5.2 billion market cap company, known for its impressive 50.7% gross margins, maintains a strong cash position relative to its debt obligations, according to InvestingPro data. The shares were sold at a weighted average price of $6.70, resulting in a total transaction value of $13,192. Following this transaction, DeHoff retains ownership of 202,276 shares in the company.
The transaction was carried out through multiple trades, with individual share prices ranging from $6.47 to $6.99. This information was disclosed in a Form 4 filing with the Securities and Exchange Commission (SEC).
In other recent news, Joby Aviation reported a net loss of $246 million for the fourth quarter of 2024, with an earnings per share (EPS) of -0.34, falling short of the projected -0.19. Despite this miss, the company emphasized strategic advancements during their earnings call, including plans to begin FAA TIA flight testing within the next 12 months. Joby Aviation also highlighted the delivery of its second aircraft to Edwards Air Force Base and plans to deliver its first aircraft to Dubai by mid-2025. The company has strong financial backing, with $933 million in cash and short-term investments at year-end, and additional funding commitments, including $500 million from Toyota (NYSE:TM). Analysts noted the company’s ongoing investments in product development and market expansion, which are crucial for its leadership in the eVTOL space. Joby Aviation’s strategic partnerships and technological advancements are positioning it for future growth, despite the current financial challenges. The company also discussed its relationship with the Department of Defense, emphasizing the potential for VTOL aircraft in defense applications.
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