Mobileye Global Inc. (NASDAQ:MBLY) Shares Bought by Wellington Management Group LLP

Wellington Management Group LLP boosted its stake in shares of Mobileye Global Inc. (NASDAQ:MBLY) by 200.3% in the fourth quarter, Holdings Channel reports. The fund owned 3,398,211 shares of the company’s stock after purchasing an additional 2,266,438 shares during the period. Wellington Management Group LLP’s holdings in Mobileye Global were worth $147,210,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in MBLY. Norges Bank acquired a new stake in Mobileye Global during the 4th quarter worth approximately $437,842,000. Kodai Capital Management LP acquired a new stake in Mobileye Global during the 4th quarter worth approximately $148,924,000. Ameriprise Financial Inc. lifted its position in Mobileye Global by 4,749.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,115,030 shares of the company’s stock worth $46,329,000 after acquiring an additional 1,092,035 shares during the period. The Manufacturers Life Insurance Company acquired a new stake in Mobileye Global during the 3rd quarter worth approximately $35,374,000. Finally, Franklin Resources Inc. lifted its position in Mobileye Global by 25.8% during the 4th quarter. Franklin Resources Inc. now owns 2,622,704 shares of the company’s stock worth $113,616,000 after acquiring an additional 538,371 shares during the period. 13.25% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Mobileye Global Price Performance

NASDAQ MBLY opened at $25.97 on Thursday. Mobileye Global Inc. has a 1-year low of $23.49 and a 1-year high of $45.10. The company has a market capitalization of $20.93 billion, a P/E ratio of -123.64, a PEG ratio of 18.09 and a beta of 0.03. The business has a 50 day moving average price of $28.61 and a 200 day moving average price of $30.66.

Mobileye Global (NASDAQ:MBLY) last released 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). The company had revenue of $239.00 million for the quarter, compared to analysts’ expectations of $226.60 million. Mobileye Global had a positive return on equity of 1.76% and a negative net margin of 8.92%. On average, research analysts expect that Mobileye Global Inc. will post 0.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently commented on MBLY. Needham & Company LLC reissued a “buy” rating and issued a $36.00 price target on shares of Mobileye Global in a report on Friday, April 26th. Piper Sandler raised their price target on Mobileye Global from $31.00 to $32.00 and gave the company a “neutral” rating in a report on Friday, April 26th. Morgan Stanley cut Mobileye Global from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $26.00 to $25.00 in a report on Friday, April 26th. TD Cowen raised their price target on Mobileye Global from $35.00 to $37.00 and gave the company a “buy” rating in a report on Friday, April 26th. Finally, Wolfe Research raised Mobileye Global from a “peer perform” rating to an “outperform” rating and set a $41.00 price target for the company in a report on Friday, April 12th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.19.

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.