Didier Papadopoulos, President of Aircraft OEM at Joby Aviation Inch. (NYSE: ), a company currently valued at $6.2 billion, recently made a number of stock transactions, according to a Form 4 filing with the Securities and Exchange Commission. According to InvestingPro data, the stock has seen significant volatility, falling nearly 15% in the past week. On January 15, Papadopoulos sold 1,387 common shares at $8.35 each, for a total of $11,581. This sale was made to cover taxes due upon the issuance and settlement of restricted stock units (RSUs).
Additionally, on January 16, Papadopoulos sold another 1,463 shares at $8.14 each, for a total of $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.
In other recent news, Joby Aviation has been the subject of several analyst updates. Needham & Company lifted their target price on 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 company’s optimism is based in part on Joby’s expected international launch in the United Arab Emirates and expected approval from domestic regulators by the Federal Aviation Administration (FAA).
Analysts at Canaccord Genuity increased their price target on Joby Aviation to $11.50, up from $9.75, and continue to recommend a Buy rating. The company cited Joby Aviation’s strong position in the sector, with significant cash reserves set up to support the company’s plans to ramp up production at the Dayton, Ohio facility once the aircraft receives FAA certification.
HC Wainwright also reiterated a Buy rating on Joby Aviation, reflecting optimism for the company’s potential within the emerging eVTOL industry. The company views the ongoing progress as a race between Joby Aviation and Archer Aviation to be the first to begin commercial eVTOL operations.
In other recent developments, Joby Aviation has successfully completed a maintenance training program with the US Air Force. However, the company’s CFO Matthew Field announced his resignation for personal reasons. CEO JoeBen Bevirt and company controller Sergey Novikov will serve as interim replacements for Field. Despite this, Canaccord Genuity maintained a buy rating on Joby Aviation, showing confidence in the company’s management.
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