Eric Allison, Director of Product at Joby Aviation (NYSE:), recently sold 1,121 shares of the company’s common stock. The shares were sold at an average price of $8.35 each, for a total of approximately $9,360. This January 15, 2025 transaction was part of a sale to cover taxes due upon the issuance and settlement of restricted stock units (RSUs).
In addition to this sale, Allison acquired 3,089 shares of common stock through the exercise of restricted stock units on January 14, 2025. These RSUs were granted under the Joby Aviation 2024 Performance Award Program, with vesting contingent upon the achievement of specific performance goals.
Following these transactions, Allison directly holds a total of 572,235 shares. Joby Aviation, based in Santa Cruz, California, is known for developing electric vertical takeoff and landing (eVTOL) aircraft.
In other recent news, Joby Aviation has seen a number of significant developments. Needham & Company adjusted its outlook on Joby Aviation, raising its target price from $8.00 to $10.00, maintaining a Buy rating. This review follows a discussion with Joby’s Chief Product Officer, Eric Allison, at the 27th annual Needham Growth Conference. The Needham analyst expressed continued confidence in the company, citing Joby’s expected international launch in the United Arab Emirates later this year, with domestic regulatory approval expected from the Federal Aviation Administration (FAA).
Analysts at Canaccord Genuity and HC Wainwright also reiterated their Buy ratings on Joby Aviation, indicating confidence in the company’s trajectory. The company strengthened its financial position by securing an additional $232 million in liquidity through a recent capital increase and a $500 million investment commitment from its partner, Toyota (NYSE:). Joby Aviation also completed static load testing of the large aerostructure, marking a milestone in the company’s progress towards building and flying the final compliant aircraft design within the year.
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. Ultimately, Joby Aviation achieved significant regulatory progress with the FAA issuing Part 141 certification for its pilot training academy and accepting its Part 5 safety management system for flight operations ahead of schedule.
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