1832 Asset Management L.P. Boosts Holdings in Mobileye Global Inc. (NASDAQ:MBLY)

1832 Asset Management L.P. boosted its position in shares of Mobileye Global Inc. (NASDAQ:MBLY) by 5,308.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,206,500 shares of the company’s stock after acquiring an additional 2,165,700 shares during the period. 1832 Asset Management L.P. owned 0.27% of Mobileye Global worth $70,939,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Principal Securities Inc. purchased a new position in shares of Mobileye Global in the fourth quarter worth $28,000. Register Financial Advisors LLC acquired a new stake in shares of Mobileye Global in the first quarter worth $32,000. National Bank of Canada FI increased its stake in shares of Mobileye Global by 90.0% in the fourth quarter. National Bank of Canada FI now owns 1,425 shares of the company’s stock worth $59,000 after acquiring an additional 675 shares during the period. Venturi Wealth Management LLC increased its stake in shares of Mobileye Global by 33.3% in the fourth quarter. Venturi Wealth Management LLC now owns 1,600 shares of the company’s stock worth $69,000 after acquiring an additional 400 shares during the period. Finally, Newbridge Financial Services Group Inc. acquired a new stake in shares of Mobileye Global in the fourth quarter worth $77,000. Hedge funds and other institutional investors own 13.25% of the company’s stock.

Insiders Place Their Bets

In other news, Director Patrick P. Gelsinger bought 2,000 shares of Mobileye Global stock in a transaction on Monday, April 29th. The shares were bought at an average cost of $27.53 per share, with a total value of $55,060.00. Following the completion of the purchase, the director now directly owns 131,095 shares of the company’s stock, valued at $3,609,045.35. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Patrick P. Gelsinger purchased 1,611 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was acquired at an average cost of $28.17 per share, for a total transaction of $45,381.87. Following the completion of the transaction, the director now directly owns 132,706 shares in the company, valued at $3,738,328.02. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Patrick P. Gelsinger purchased 2,000 shares of the company’s stock in a transaction on Monday, April 29th. The shares were bought at an average price of $27.53 per share, with a total value of $55,060.00. Following the completion of the transaction, the director now owns 131,095 shares of the company’s stock, valued at $3,609,045.35. The disclosure for this purchase can be found here. 1.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

MBLY has been the topic of several analyst reports. JPMorgan Chase & Co. raised their price target on shares of Mobileye Global from $34.00 to $38.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Citigroup dropped their price target on shares of Mobileye Global from $58.00 to $53.00 and set a “buy” rating on the stock in a research report on Monday, April 29th. Wolfe Research upgraded shares of Mobileye Global from a “peer perform” rating to an “outperform” rating and set a $41.00 price target on the stock in a research report on Friday, April 12th. Piper Sandler raised their price target on shares of Mobileye Global from $31.00 to $32.00 and gave the company a “neutral” rating in a research report on Friday, April 26th. Finally, Canaccord Genuity Group raised their price target on shares of Mobileye Global from $31.00 to $37.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Three research analysts have rated the stock with a sell rating, one has issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $37.44.

Mobileye Global Stock Performance

Shares of NASDAQ:MBLY traded up $0.14 during midday trading on Friday, hitting $21.22. The company’s stock had a trading volume of 3,365,488 shares, compared to its average volume of 3,407,371. The business’s 50 day simple moving average is $26.76 and its 200 day simple moving average is $28.02. The company has a market cap of $17.11 billion, a P/E ratio of -101.04, a price-to-earnings-growth ratio of 32.79 and a beta of 0.07. Mobileye Global Inc. has a 12-month low of $21.07 and a 12-month high of $44.48.

Mobileye Global (NASDAQ:MBLY) last posted its quarterly earnings results on Thursday, April 25th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.03). Mobileye Global had a positive return on equity of 1.76% and a negative net margin of 8.92%. The business had revenue of $239.00 million during the quarter, compared to analysts’ expectations of $226.60 million. On average, sell-side analysts predict that Mobileye Global Inc. will post 0.09 earnings per share for the current fiscal year.

Mobileye Global Company Profile

Mobileye Global Inc develops and deploys advanced driver assistance systems (ADAS) and autonomous driving technologies and solutions worldwide. The company operates through Mobileye and Other segments. It offers Driver Assist comprising ADAS and autonomous vehicle solutions that covers safety features, such as real-time detection of road users, geometry, semantics, and markings to provide safety alerts and emergency interventions; Cloud-Enhanced Driver Assist, a solution for drivers with interpretations of a scene in real-time; Mobileye SuperVision Lite, a navigation and assisted driving solution; and Mobileye SuperVision, an operational point-to-point assisted driving navigation solution on various road types and includes cloud-based enhancements, such as road experience management.