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SANTA CRUZ, CA — Didier Papadopoulos, President of Aircraft OEM at Joby Aviation , Inc. (NYSE:JOBY), recently executed a series of stock transactions, as disclosed in a recent SEC filing. On February 11 and 12, Papadopoulos sold a total of 2,867 shares of Joby Aviation common stock. The shares were sold at an average price of $7.50 and $7.25, amounting to approximately $21,143 in total. The transactions come as the stock, currently valued at $5.6 billion, has shown significant volatility, with a 46% gain over the past six months despite recent weakness.
The sales were part of a pre-established trading plan, as noted in the filing. Following these transactions, Papadopoulos retains direct ownership of 52,835 shares of the company. Additionally, on February 10, he acquired 3,825 shares through the conversion of restricted stock units, which did not involve any cash transaction. According to InvestingPro data, the company maintains strong liquidity with a current ratio of 16.12 and holds more cash than debt on its balance sheet.
These transactions are part of Papadopoulos’s ongoing management of his holdings in the company as Joby Aviation continues to develop its electric vertical takeoff and landing (eVTOL) aircraft technology. With the company’s next earnings report due on February 19, investors can access comprehensive analysis and 15 additional ProTips through InvestingPro’s detailed research reports.
In other recent news, Joby Aviation, an aircraft manufacturing company, has made significant adjustments to its bylaws and voting rights, aligning its corporate governance with regulatory compliance and modern best practices. Needham & Company has revised its outlook on Joby Aviation, raising the stock’s price target to $10.00 and maintaining a Buy rating. This adjustment followed a discussion with Joby’s Chief Product Officer and reflects the company’s improved financial position and anticipated international launch in the United Arab Emirates later this year.
Canaccord Genuity analysts have also increased their price target on Joby Aviation shares to $11.50, citing the company’s strong position in the sector and significant cash reserves. Joby Aviation has also completed a maintenance training program with members of the U.S. Air Force as part of its contract with AFWERX Agility Prime, marking another significant development.
H.C. Wainwright has maintained its Buy rating and $9.00 price target for Joby Aviation, highlighting the company’s strong regulatory progress and industry leadership outlook. These recent developments are part of Joby Aviation’s ongoing efforts to advance in the aircraft manufacturing sector.
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