Rheos Capital Works Inc. Buys 1,100,000 Shares of Joby Aviation, Inc. $JOBY

Rheos Capital Works Inc. grew its stake in Joby Aviation, Inc. (NYSE:JOBY) by 45.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,545,000 shares of the company’s stock after purchasing an additional 1,100,000 shares during the quarter. Joby Aviation comprises approximately 3.0% of Rheos Capital Works Inc.’s holdings, making the stock its 7th largest holding. Rheos Capital Works Inc. owned 0.39% of Joby Aviation worth $46,794,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Joby Aviation by 13.2% in the 3rd quarter. Vanguard Group Inc. now owns 49,948,325 shares of the company’s stock valued at $806,166,000 after purchasing an additional 5,828,189 shares during the period. State Street Corp lifted its stake in shares of Joby Aviation by 3.0% in the 2nd quarter. State Street Corp now owns 10,392,018 shares of the company’s stock valued at $109,636,000 after purchasing an additional 305,109 shares during the period. Bank of America Corp DE lifted its stake in shares of Joby Aviation by 41.2% in the 3rd quarter. Bank of America Corp DE now owns 4,192,109 shares of the company’s stock valued at $67,661,000 after purchasing an additional 1,223,412 shares during the period. Man Group plc acquired a new position in shares of Joby Aviation in the 3rd quarter valued at $40,283,000. Finally, Clear Street Group Inc. acquired a new position in shares of Joby Aviation in the 3rd quarter valued at $36,264,000. Institutional investors and hedge funds own 52.85% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. HC Wainwright reissued a “buy” rating and issued a $18.00 price target on shares of Joby Aviation in a research note on Thursday, March 12th. Oppenheimer set a $18.00 price objective on shares of Joby Aviation in a research report on Thursday, February 26th. Needham & Company LLC lowered their price objective on shares of Joby Aviation to $18.00 and set a “buy” rating for the company in a research report on Thursday, February 26th. Weiss Ratings restated a “sell (d-)” rating on shares of Joby Aviation in a research report on Thursday, January 22nd. Finally, Canaccord Genuity Group restated a “hold” rating and issued a $15.50 price objective on shares of Joby Aviation in a research report on Tuesday, February 3rd. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Reduce” and an average price target of $13.81.

Joby Aviation Stock Up 2.4%

JOBY opened at $8.71 on Tuesday. Joby Aviation, Inc. has a 12 month low of $4.96 and a 12 month high of $20.95. The company has a fifty day simple moving average of $9.83 and a 200 day simple moving average of $13.38. The stock has a market cap of $7.94 billion, a P/E ratio of -7.64 and a beta of 2.68.

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

Insider Activity

In other Joby Aviation news, insider Eric Allison sold 21,493 shares of the stock in a transaction dated Tuesday, January 13th. The stock was sold at an average price of $14.84, for a total transaction of $318,956.12. Following the completion of the transaction, the insider owned 702,604 shares in the company, valued at approximately $10,426,643.36. This represents a 2.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kate Dehoff sold 28,260 shares of the stock in a transaction dated Wednesday, January 14th. The stock was sold at an average price of $14.72, for a total value of $415,987.20. Following the transaction, the insider owned 149,369 shares of the company’s stock, valued at approximately $2,198,711.68. This trade represents a 15.91% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 1,318,475 shares of company stock worth $13,703,541. 28.50% of the stock is currently owned by insiders.

Joby Aviation 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.