Rheos Capital Works Inc. Has $46.79 Million Stock Position in Joby Aviation, Inc. $JOBY

Rheos Capital Works Inc. boosted its position in shares of Joby Aviation, Inc. (NYSE:JOBY) by 45.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,545,000 shares of the company’s stock after purchasing an additional 1,100,000 shares during the period. Joby Aviation comprises 3.0% of Rheos Capital Works Inc.’s holdings, making the stock its 7th largest position. Rheos Capital Works Inc.’s holdings in Joby Aviation were worth $46,794,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Asset Planning Inc increased its holdings in Joby Aviation by 70.0% during the 3rd quarter. Asset Planning Inc now owns 1,700 shares of the company’s stock worth $27,000 after purchasing an additional 700 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Joby Aviation by 284.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,540 shares of the company’s stock worth $27,000 after purchasing an additional 1,880 shares in the last quarter. Canton Hathaway LLC bought a new position in shares of Joby Aviation in the 3rd quarter valued at about $29,000. Strategic Advocates LLC bought a new position in shares of Joby Aviation in the 3rd quarter valued at about $29,000. Finally, Hilltop National Bank bought a new position in shares of Joby Aviation in the 3rd quarter valued at about $32,000. Institutional investors own 52.85% of the company’s stock.

Insider Activity

In related news, insider Gregory Bowles sold 11,530 shares of the firm’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $9.62, for a total value of $110,918.60. Following the completion of the sale, the insider directly owned 170,360 shares in the company, valued at approximately $1,638,863.20. This trade represents a 6.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Didier Papadopoulos sold 12,965 shares of the firm’s stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $8.15, for a total transaction of $105,664.75. Following the completion of the sale, the insider owned 147,678 shares of the company’s stock, valued at $1,203,575.70. This trade represents a 8.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 1,318,475 shares of company stock valued at $13,703,541. Company insiders own 28.50% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on JOBY. Canaccord Genuity Group restated a “hold” rating and issued a $15.50 price objective on shares of Joby Aviation in a report on Tuesday, February 3rd. JPMorgan Chase & Co. decreased their price objective on Joby Aviation from $8.00 to $7.00 and set an “underweight” rating for the company in a report on Thursday, February 26th. Weiss Ratings restated a “sell (d-)” rating on shares of Joby Aviation in a report on Thursday, January 22nd. Oppenheimer set a $18.00 price objective on Joby Aviation in a report on Thursday, February 26th. Finally, Needham & Company LLC decreased their price objective on Joby Aviation to $18.00 and set a “buy” rating for the company in a report on Thursday, February 26th. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $13.81.

Joby Aviation Price Performance

Shares of NYSE JOBY opened at $8.71 on Tuesday. The stock has a market capitalization of $7.94 billion, a price-to-earnings ratio of -7.64 and a beta of 2.68. The business has a 50-day moving average of $9.83 and a 200-day moving average of $13.38. Joby Aviation, Inc. has a fifty-two week low of $4.96 and a fifty-two week high of $20.95.

Joby Aviation (NYSE:JOBY) last issued its earnings results on Wednesday, February 25th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.06. The firm had revenue of $30.84 million during the quarter, compared to analyst estimates of $16.88 million. During the same quarter last year, the business posted ($0.34) earnings per share. The company’s revenue for the quarter was up 5506.5% on a year-over-year basis. On average, sell-side analysts expect that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Joby Aviation Company Profile

Joby Aviation Inc is an aerospace company focused on developing electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility. The company’s core mission is to provide zero-emission aerial ridesharing services, combining the speed of helicopters with the cost efficiency and environmental benefits of electric propulsion. Joby’s eVTOL design emphasizes low noise profiles and high reliability, positioning the company to address congestion challenges in major metropolitan areas.

The company’s flagship aircraft is designed to carry a pilot and up to four passengers, offering point-to-point travel at speeds competitive with ground transportation.