Sergey Novikov, an officer at Joby Aviation , Inc. (NYSE:JOBY), recently sold shares of the company's stock, according to a recent SEC filing. On January 15, Novikov sold 212 shares at a price of $8.35 each, totaling approximately $1,770. The transaction comes as Joby's stock shows significant momentum, with a 42% gain over the past year, though InvestingPro data indicates the stock is currently trading above its Fair Value. This transaction was undertaken to cover taxes due upon the release and settlement of restricted stock units (RSUs), as required by the terms of the award.
In addition to the sale, Novikov acquired 505 shares of common stock on January 14 through the vesting of RSUs, which did not involve any cash transaction. Following these transactions, Novikov now holds 45,727 shares of Joby Aviation directly.
In other recent news, Joby Aviation has seen key developments. Needham & Company has raised Joby Aviation's stock target from $8.00 to $10.00, maintaining a Buy rating. This adjustment reflects Joby's anticipated international launch in the United Arab Emirates and expected domestic regulatory approval by the Federal Aviation Administration. Canaccord Genuity analysts have also increased their price target on Joby Aviation to $11.50, up from the previous $9.75, and labeled the company as the 'best capitalized eVTOL manufacturer'.
Additionally, Joby Aviation has strengthened its financial position with an additional $232 million in liquidity from a recent equity raise and a $500 million equity capital commitment from partner Toyota (NYSE:TM). The company has also successfully concluded a maintenance training program with the U.S. Air Force, marking a milestone in operational capabilities.
However, Joby Aviation's CFO, Matthew Field, has resigned for personal reasons, with CEO JoeBen Bevirt and company controller Sergei Novikov stepping in as interim replacements. Despite this change, Canaccord Genuity maintained its Buy rating for Joby Aviation, demonstrating confidence in the company's management. These are recent developments in Joby Aviation's journey, showing progress towards launching its urban air mobility business.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.