Joby Aviation's chief product officer sells shares worth $51,289

Eric Allison, Chief Product Officer at Joby Aviation (NYSE:JOBY), recently executed a stock transaction involving the sale of 6,903 shares of common stock. The shares were sold at an average price of $7.43 each, totaling $51,289. This transaction, which took place on February 13, 2025, was conducted to cover taxes due upon the release and settlement of restricted stock units (RSUs), as per the terms of the RSU award. The stock, currently trading at $7.83, has shown significant momentum with a 53% gain over the past six months.

In addition to the sale, Allison acquired 19,047 shares of common stock on February 12, 2025, through the exercise of RSUs. These shares were acquired at no cost, as part of a pre-existing award under Joby Aviation's 2024 Performance Award Program. Following these transactions, Allison holds a total of 586,314 shares directly. With the company's upcoming earnings report due on February 19, InvestingPro data shows impressive gross profit margins of 78%.

Investors may note that these transactions reflect routine financial management by company executives, as RSUs are a common form of compensation in the tech and aviation industries. Joby Aviation, headquartered in Santa Cruz, California, continues to focus on its mission of developing electric vertical takeoff and landing (eVTOL) aircraft. The company maintains a strong balance sheet with more cash than debt, and InvestingPro subscribers can access 12 additional key insights about JOBY's financial health and market position.

In other recent news, Joby Aviation has announced amendments to its bylaws and changes in voting rights, according to a filing with the Securities and Exchange Commission (SEC). The company also recently completed a maintenance training program with members of the U.S. Air Force. Meanwhile, analysts from Needham & Company, Canaccord Genuity, and H.C. Wainwright have all expressed positive outlooks for Joby Aviation. Needham & Company raised its price target for the company from $8.00 to $10.00, while Canaccord Genuity increased its price target to $11.50 from $9.75, and H.C. Wainwright maintained its $9.00 price target. These recent developments highlight Joby Aviation's ongoing efforts towards regulatory compliance, corporate governance, and industry leadership.

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