In this piece, we will take a look at the 5 latest stock picks of Chinese billionaire Chen Tianqiao’s Shanda Asset Management. If you want to learn more about Mr. Chen and his firm then head on over to 9 Latest Stock Picks of Chinese Billionaire Chen Tianqiao’s Shanda Asset Management.
5. Joby Aviation, Inc. (NYSE:JOBY)
Shanda Asset Management’s Stake Value: $2.99 million
Percentage of Shanda Asset Management’s 13F Portfolio: 0.31%
Number of Hedge Fund Holders: 21
Joby Aviation, Inc. (NYSE:JOBY) is an American company headquartered in California. Like some of the other companies that are a part of Shanda Asset’s new stock picks, the company is developing electric vertical take-off and landing (eVTOL) aircraft. Joby Aviation, Inc. (NYSE:JOBY) is also known for its partnership with the ride-sharing company Uber, which has invested in it.
Joby Aviation, Inc. (NYSE:JOBY)’s GAAP EPS for its fiscal Q3 stood at -$0.20, with an operating income of -$55.9 million and $1.4 billion in cash and short-term investments. Morgan Stanley set a $16 price target for the company in September 2021, sharing that the eVTOL designer is a strong first mover in a $1 trillion market.
Mr. Chen’s hedge fund took a $2.9 million stake in Joby Aviation, Inc. (NYSE:JOBY) shares during the third quarter of last year. This represented 0.3% of its portfolio and came through buying 298,000 shares. In Q3 2021, according to Insider Monkey’s research, 21 of 867 hedge funds had stakes in the eVTOL company.