The sales were made under Bevirt's 10b5-1 trading plan, which was adopted on March 17, 2023. Following these transactions, Bevirt continues to hold significant shares through various trusts and direct ownership. The Joby Trust, where Bevirt is the trustee, retains ownership of 60,828,414 shares, while the JoeBen Bevirt 2020 Descendants Trust holds 32,325,793 shares. Additionally, Bevirt holds shares directly and indirectly through other trusts and family members. With a market capitalization of $7.52 billion, InvestingPro analysis suggests the stock is currently trading above its Fair Value. Investors can access 16 additional ProTips and a comprehensive Pro Research Report for deeper insights into JOBY's valuation and prospects. With a market capitalization of $7.52 billion, InvestingPro analysis suggests the stock is currently trading above its Fair Value. Investors can access 16 additional ProTips and a comprehensive Pro Research Report for deeper insights into JOBY's valuation and prospects.
The sales were made under Bevirt's 10b5-1 trading plan, which was adopted on March 17, 2023. Following these transactions, Bevirt continues to hold significant shares through various trusts and direct ownership. The Joby Trust, where Bevirt is the trustee, retains ownership of 60,828,414 shares, while the JoeBen Bevirt 2020 Descendants Trust holds 32,325,793 shares. Additionally, Bevirt holds shares directly and indirectly through other trusts and family members.
In other recent news, Joby Aviation (NYSE:JOBY) has seen several significant developments. The company successfully completed a maintenance training program with the U.S. Air Force, building technical knowledge on the operations of Joby's electric aircraft. 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.
On the investors' front, H.C. Wainwright and Canaccord Genuity (TSX:CF) maintained their Buy ratings for Joby Aviation, demonstrating confidence in the company's trajectory. Similarly, Needham gave a favorable Buy rating based on Joby's potential to secure an early market share in the emerging air taxi industry, particularly due to its strategic partnership with Uber (NYSE:UBER) and focus on software development.
In terms of regulatory progress, Joby Aviation achieved a major milestone with the FAA issuing a Part 141 Certification for its pilot training academy and accepting its Part 5 Safety Management System for flight operations ahead of the deadline. This positions Joby to train a variety of pilots, supporting its future eVTOL operations.
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