‘We Will Shine’: Cathie Wood’s Optimism and Her 5 Most Ambitious Stock Picks

2. Joby Aviation, Inc. (NYSE:JOBY)

Number of Hedge Fund Holders: 30

Joby Aviation, Inc. (NYSE:JOBY) is a California-based air mobility company that develops electric vertical takeoffs and landing aircrafts that aim to provide air transportation as a service. Joby Aviation, Inc. (NYSE:JOBY) intends to create an aerial ridesharing service. Cathie Wood’s ARK Investment Management increased its stake in Joby Aviation, Inc. (NYSE:JOBY) by 43%, holding 1.4 million shares worth $9.38 million. 

JPMorgan analyst Bill Peterson on April 28 initiated coverage of Joby Aviation, Inc. (NYSE:JOBY) with a Neutral rating and a $7 price target. According to the analyst, Joby Aviation, Inc. (NYSE:JOBY) is a first-mover in the emerging electric vertical takeoff and landing industry and aims to manufacture aircrafts for passenger flights. However, the analyst believes Joby Aviation, Inc. (NYSE:JOBY)’s “early leadership is generally reflected in the stock”.

According to Insider Monkey’s Q1 database, 30 hedge funds were long Joby Aviation, Inc. (NYSE:JOBY), up from 23 funds in the earlier quarter.