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Bonny Simi, President of Operations at Joby Aviation , Inc. (NYSE:JOBY), recently executed stock transactions involving the sale of company shares. According to a Form 4 filing with the Securities and Exchange Commission, Simi sold 1,252 shares of common stock on April 8, 2025, at a price of $5.79 per share, amounting to a total of $7,249. The stock has since risen to $6.26, with analysts setting price targets between $4 and $11.50 for the $4.2 billion market cap company. InvestingPro analysis suggests the stock is currently overvalued relative to its Fair Value. This sale was conducted to cover taxes due upon the release and settlement of restricted stock units (RSUs).
Additionally, on April 7, 2025, Simi acquired 3,450 shares of common stock through the vesting of RSUs. These transactions reflect Simi's ongoing involvement in Joby Aviation's equity plans, as she maintains direct ownership of 215,970 shares following these activities.
In other recent news, Joby Aviation reported a net loss of $246 million for the fourth quarter of 2024, with earnings per share (EPS) at -0.34, missing the forecast of -0.19. Despite this earnings miss, the company highlighted ongoing advancements in product development and strategic partnerships, including plans to begin FAA TIA flight testing within the next 12 months. Cantor Fitzgerald has maintained an Overweight rating on Joby Aviation, with a price target of $9.00, citing the company’s strong position in the electric vertical takeoff and landing (eVTOL) industry. Joby Aviation has recently delivered its second aircraft to the Department of Defense's Edwards Air Force Base, expanding its operational fleet to five aircraft. The company also confirmed plans to deliver an aircraft to Dubai by mid-2025, as part of its expansion strategy. Strategic partnerships with companies like Delta Air Lines (NYSE:DAL), Toyota (NYSE:TM), and Uber (NYSE:UBER) are expected to play a significant role in Joby Aviation's path toward commercialization and obtaining FAA Type Certification. Joby Aviation's cash and short-term investments totaled $933 million at the end of 2024, supported by $350 million from equity offerings in October and December. The company remains focused on expanding its manufacturing capabilities and exploring both direct operations and potential aircraft sales models.
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