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Kate DeHoff, General Counsel and Corporate Secretary at Joby Aviation , Inc. (NYSE:JOBY), recently executed two significant stock sales. On April 14, DeHoff sold 5,822 shares at an average price of $6.04 per share, amounting to a total of $35,164. This sale was conducted to cover taxes due upon the release and settlement of restricted stock units (RSUs). According to InvestingPro data, JOBY’s stock has shown significant volatility, with the price ranging between $4.50 and $10.72 over the past 52 weeks.
Following this, on April 15, DeHoff sold an additional 29,300 shares at a weighted average price of $5.89 per share, generating $172,577. This transaction was made under DeHoff’s pre-established 10b5-1 trading plan, which was adopted on June 6, 2024. The timing of these sales comes as the company approaches its next earnings report, scheduled for May 7, 2025.
These transactions leave DeHoff with 202,276 shares of Joby Aviation common stock. While the stock has gained nearly 13% over the past week, InvestingPro subscribers can access 12 additional investment tips and comprehensive insider trading analysis to better understand the significance of these transactions.
In other recent news, Joby Aviation reported a net loss of $246 million for Q4 2024, with an earnings per share (EPS) of -0.34, missing the forecast of -0.19. Despite this, the company highlighted significant advancements in product development and strategic partnerships during its earnings call. Joby Aviation has recently delivered its second aircraft to the Department of Defense’s Edwards Air Force Base, marking the expansion of its operational fleet to five aircraft. The company also plans to deliver an aircraft to Dubai by mid-2025 and begin FAA TIA flight testing within the next 12 months. Cantor Fitzgerald maintained an Overweight rating on Joby Aviation with a price target of $9.00, expressing a long-term positive outlook on the company’s prospects in the eVTOL industry. Joby Aviation’s partnerships with major companies such as Delta Air Lines (NYSE:DAL), Toyota (NYSE:TM), and Uber (NYSE:UBER) are seen as instrumental in its path toward commercialization. The company is on track 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 emerging eVTOL industry. Additionally, Joby Aviation holds $933 million in cash and short-term investments, with net proceeds from equity offerings totaling $350 million combined in October and December.
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