Didier Papadopoulos, President of Aircraft OEM at Joby Aviation , Inc. (NYSE:JOBY), a company currently valued at $6.2 billion, recently executed a series of stock transactions, according to a Form 4 filed with the Securities and Exchange Commission. According to InvestingPro data, the stock has experienced significant volatility, dropping nearly 15% in the past week. On January 15, Papadopoulos sold 1,387 shares of common stock at a price of $8.35 each, totaling $11,581. This sale was made to cover taxes due upon the release and settlement of restricted stock units (RSUs).
Additionally, on January 16, Papadopoulos sold another 1,463 shares at $8.14 each, amounting to $11,908. This transaction was conducted under a 10b5-1 trading plan, which was adopted on March 15, 2024. Following these transactions, Papadopoulos holds 51,877 shares of Joby Aviation's common stock.
In other recent news, Joby Aviation has been the subject of several analyst updates. Needham & Company raised its price target for Joby Aviation from $8.00 to $10.00, maintaining a Buy rating. This follows a discussion with Joby's Chief Product Officer, Eric Allison, at the 27th annual Needham Growth Conference. The firm's optimism is partly based on Joby's anticipated international launch in the United Arab Emirates and expected domestic regulatory approval by the Federal Aviation Administration (FAA).
Canaccord Genuity analysts increased their price target on Joby Aviation to $11.50, up from $9.75, and continue to recommend a Buy rating. The firm cited Joby Aviation's strong position in the sector, with significant cash reserves set to support the company's plans to increase production at its Dayton, Ohio facility once the aircraft receives FAA certification.
H.C. Wainwright also reiterated a Buy rating for Joby Aviation, reflecting optimism for the company's potential within the emerging eVTOL industry. The firm views the ongoing advancements as a race between Joby Aviation and Archer Aviation to be the first to start commercial eVTOL operations.
In other recent developments, Joby Aviation successfully completed a maintenance training program with the U.S. Air Force. However, the company's CFO, Matthew Field, announced his resignation for personal reasons. CEO JoeBen Bevirt and company controller Sergei Novikov will serve as interim replacements for Field. Despite this, Canaccord Genuity maintained its Buy rating for Joby Aviation, demonstrating confidence in the company's management.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.