Rheos Capital Works Inc. Has $19.55 Million Stake in Joby Aviation, Inc. (NYSE:JOBY)

Rheos Capital Works Inc. increased its position in shares of Joby Aviation, Inc. (NYSE:JOBY - Free Report) by 17.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,405,000 shares of the company's stock after buying an additional 350,000 shares during the period. Rheos Capital Works Inc. owned 0.31% of Joby Aviation worth $19,553,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Intech Investment Management LLC acquired a new position in shares of Joby Aviation during the 3rd quarter worth about $518,000. Fred Alger Management LLC increased its position in Joby Aviation by 89.4% during the third quarter. Fred Alger Management LLC now owns 123,368 shares of the company's stock worth $621,000 after buying an additional 58,229 shares during the last quarter. Hamilton Lane Advisors LLC bought a new stake in Joby Aviation in the fourth quarter valued at approximately $418,000. Caprock Group LLC lifted its position in shares of Joby Aviation by 179.5% in the third quarter. Caprock Group LLC now owns 124,404 shares of the company's stock valued at $626,000 after buying an additional 79,896 shares during the last quarter. Finally, Holocene Advisors LP boosted its stake in shares of Joby Aviation by 91.7% during the 3rd quarter. Holocene Advisors LP now owns 521,327 shares of the company's stock worth $2,622,000 after acquiring an additional 249,375 shares during the period. 52.85% of the stock is owned by institutional investors.

Joby Aviation Stock Performance

NYSE:JOBY traded down $0.20 during mid-day trading on Thursday, reaching $7.86. 9,119,481 shares of the company's stock were exchanged, compared to its average volume of 13,441,092. Joby Aviation, Inc. has a one year low of $4.50 and a one year high of $10.72. The business's fifty day simple moving average is $8.39 and its two-hundred day simple moving average is $6.53. The firm has a market capitalization of $6.01 billion, a PE ratio of -11.22 and a beta of 2.33.

Joby Aviation (NYSE:JOBY - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.21) earnings per share for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.02). The business had revenue of $0.28 million during the quarter, compared to analyst estimates of $0.06 million. Joby Aviation had a negative net margin of 42,844.57% and a negative return on equity of 51.76%. During the same quarter in the previous year, the firm posted ($0.13) earnings per share. As a group, equities research analysts forecast that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Insiders Place Their Bets

In other Joby Aviation news, insider Didier Papadopoulos sold 6,005 shares of the firm's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $7.65, for a total value of $45,938.25. Following the transaction, the insider now directly owns 54,776 shares of the company's stock, valued at $419,036.40. This trade represents a 9.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Joeben Bevirt sold 250,000 shares of the business's stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $9.84, for a total transaction of $2,460,000.00. Following the completion of the transaction, the chief executive officer now owns 32,325,793 shares of the company's stock, valued at $318,085,803.12. The trade was a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,005,672 shares of company stock worth $8,537,389 in the last 90 days. Company insiders own 32.40% of the company's stock.

Analysts Set New Price Targets

JOBY has been the subject of several research reports. Canaccord Genuity Group raised their price target on Joby Aviation from $9.75 to $11.50 and gave the company a "buy" rating in a report on Wednesday, January 8th. Needham & Company LLC lifted their target price on shares of Joby Aviation from $8.00 to $10.00 and gave the stock a "buy" rating in a report on Tuesday, January 14th. HC Wainwright reissued a "buy" rating and issued a $9.00 price target on shares of Joby Aviation in a report on Wednesday, December 18th. Finally, JPMorgan Chase & Co. cut Joby Aviation from a "neutral" rating to an "underweight" rating and boosted their price objective for the stock from $5.00 to $6.00 in a report on Friday, January 10th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, Joby Aviation has a consensus rating of "Moderate Buy" and a consensus target price of $9.30.

About Joby Aviation

Joby Aviation, Inc, a vertically integrated air mobility company, engages in building an electric vertical takeoff and landing aircraft optimized to deliver air transportation as a service. The company intends to build an aerial ridesharing service, as well as developing an application-based platform that will enable consumers to book rides.