Joby Aviation’s chief product officer sells $147,345 in stock

Eric Allison, the Chief Product Officer at Joby Aviation (NYSE:JOBY), a $4.7 billion market cap company whose stock has gained nearly 13% in the past week, recently executed a series of stock transactions, according to a filing with the Securities and Exchange Commission. On April 14, Allison sold 24,395 shares of Joby Aviation’s common stock at a price of $6.04 per share, amounting to a total of $147,345. According to InvestingPro analysis, the stock is currently trading above its Fair Value, with significant price volatility observed in recent months.

These sales were made to cover taxes due upon the release and settlement of Restricted Stock Units (RSUs), as stipulated by the terms of the RSU award. Prior to this, on April 12, Allison acquired 53,549 shares through the exercise of RSUs, which were converted to common stock at no cost. Investors tracking this development should note that Joby Aviation is scheduled to report its next earnings on May 7, 2025. InvestingPro subscribers have access to 12 additional key insights about JOBY’s financial health and market position.

Following these transactions, Allison holds a total of 627,726 shares of Joby Aviation’s common stock. The company maintains a strong liquidity position with a current ratio of 20.14, indicating robust short-term financial health despite trading at a relatively high price-to-book ratio of 5.2.

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, falling short of the forecasted -0.19. The company highlighted its ongoing efforts in product development, strategic partnerships, and plans to begin FAA TIA flight testing within the next 12 months. Joby Aviation has delivered its second aircraft to the Department of Defense’s Edwards Air Force Base, bringing its fleet to five aircraft, and plans to deliver an aircraft to Dubai by mid-2025. The company aims to start carrying its first passengers in the second half of 2025 or the first half of 2026. Cantor Fitzgerald maintained an Overweight rating on Joby Aviation, with a $9.00 price target, citing the company’s strong position in the eVTOL industry. Joby Aviation’s strategic partnerships with Delta Air Lines (NYSE:DAL), Toyota (NYSE:TM), and Uber (NYSE:UBER) are considered crucial for its path toward commercialization and obtaining FAA Type Certification. Additionally, the company has cash and short-term investments totaling $933 million at year-end, with net proceeds from equity offerings amounting to $350 million in October and December.

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