Joby Aviation's head of government and regulatory affairs sells $122,418 in stock

Gregory Bowles, Head of Government & Regulatory Affairs at Joby Aviation , Inc. (NYSE:JOBY), has recently sold a significant portion of his holdings in the company. According to a filing with the Securities and Exchange Commission, Bowles sold 4,331 shares on February 13 at a price of $7.43 per share, totaling $32,179. Additionally, on February 14, he sold another 11,689 shares at a weighted average price of $7.72, amounting to $90,239. These sales were part of Bowles' approved 10b5-1 trading plan, which was adopted on June 4, 2024.

Prior to these transactions, Bowles acquired 14,285 shares of common stock on February 12 through the exercise of Restricted Stock Units (RSUs) at no cost. Following these transactions, Bowles now holds 29,235 shares directly. With Joby's upcoming earnings report in 5 days, InvestingPro subscribers can access comprehensive insider trading analysis and 13 additional ProTips to make more informed investment decisions.

In other recent news, Joby Aviation Inc. announced significant amendments to its bylaws and changes in voting rights, aiming to align its corporate governance with regulatory compliance and modern best practices. In the wake of these developments, Needham & Company adjusted its outlook on the company, raising the price target from $8.00 to $10.00 while maintaining a Buy rating. This revision came after a conversation with Joby's Chief Product Officer, Eric Allison, and took into account Joby's improved financial position following a significant capital raise.

Simultaneously, Canaccord Genuity analysts increased their price target on Joby Aviation to $11.50, up from the previous $9.75, and continued to recommend a Buy rating for the stock. They cited Joby Aviation's strong position in the sector and its status as the best-capitalized eVTOL manufacturer. H.C. Wainwright also maintained its Buy rating and $9.00 price target for Joby Aviation, backing the company's strong regulatory progress and industry leadership outlook.

Furthermore, Joby Aviation successfully concluded a maintenance training program with members of the U.S. Air Force as part of the company's contract with AFWERX Agility Prime. This collaboration is a testament to Joby's commitment to refining their in-house maintenance training program and enhancing their aircraft's operations. These are just a few of the recent developments that highlight Joby Aviation's ongoing efforts to strengthen its position in the aircraft manufacturing industry.

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