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

1832 Asset Management L.P. cut its holdings in Mobileye Global Inc. (NASDAQ:MBLY) by 42.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,260,700 shares of the company’s stock after selling 945,800 shares during the quarter. 1832 Asset Management L.P. owned about 0.16% of Mobileye Global worth $35,407,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. TD Asset Management Inc raised its position in shares of Mobileye Global by 59.2% in the 4th quarter. TD Asset Management Inc now owns 140,083 shares of the company’s stock valued at $6,068,000 after purchasing an additional 52,088 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp purchased a new position in shares of Mobileye Global in the first quarter worth $1,294,000. Pinebridge Investments L.P. lifted its stake in shares of Mobileye Global by 70.4% during the fourth quarter. Pinebridge Investments L.P. now owns 243,265 shares of the company’s stock worth $10,537,000 after buying an additional 100,494 shares during the period. Wells Fargo & Company MN grew its holdings in shares of Mobileye Global by 15.2% during the fourth quarter. Wells Fargo & Company MN now owns 263,855 shares of the company’s stock valued at $11,430,000 after buying an additional 34,763 shares during the last quarter. Finally, Raymond James & Associates increased its position in shares of Mobileye Global by 258.7% in the 2nd quarter. Raymond James & Associates now owns 336,417 shares of the company’s stock valued at $9,448,000 after acquiring an additional 242,640 shares during the period. Institutional investors and hedge funds own 13.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on MBLY. Barclays lowered their price target on Mobileye Global from $40.00 to $27.00 and set an “overweight” rating for the company in a research report on Monday, August 5th. BNP Paribas downgraded Mobileye Global from an “outperform” rating to a “neutral” rating and set a $17.00 target price for the company. in a report on Monday, August 5th. Daiwa Capital Markets downgraded shares of Mobileye Global from a “buy” rating to a “neutral” rating in a report on Monday, August 5th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $15.00 price objective on shares of Mobileye Global in a research note on Tuesday, September 10th. Finally, Royal Bank of Canada dropped their price objective on shares of Mobileye Global from $34.00 to $24.00 and set an “outperform” rating on the stock in a report on Wednesday, August 14th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $30.81.

Insider Buying and Selling

In related news, CEO Amnon Shashua bought 631,963 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was bought at an average cost of $16.51 per share, for a total transaction of $10,433,709.13. Following the acquisition, the chief executive officer now directly owns 4,080,097 shares in the company, valued at $67,362,401.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Patrick P. Gelsinger bought 6,400 shares of Mobileye Global stock in a transaction on Monday, August 5th. The shares were bought at an average cost of $15.48 per share, with a total value of $99,072.00. Following the completion of the purchase, the director now directly owns 139,106 shares of the company’s stock, valued at $2,153,360.88. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Amnon Shashua purchased 631,963 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was purchased at an average cost of $16.51 per share, with a total value of $10,433,709.13. Following the purchase, the chief executive officer now owns 4,080,097 shares in the company, valued at $67,362,401.47. The disclosure for this purchase can be found here. 1.80% of the stock is currently owned by company insiders.

Mobileye Global Price Performance

Mobileye Global stock opened at $12.34 on Tuesday. The stock has a market capitalization of $9.99 billion, a PE ratio of -58.76 and a beta of 0.08. The business has a 50 day simple moving average of $15.93 and a 200-day simple moving average of $24.30. Mobileye Global Inc. has a 12 month low of $10.48 and a 12 month high of $44.48.

Mobileye Global (NASDAQ:MBLY) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.08 by $0.01. The firm had revenue of $439.00 million during the quarter, compared to the consensus estimate of $424.34 million. Mobileye Global had a positive return on equity of 1.32% and a negative net margin of 12.14%. The firm’s revenue was down 3.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.11 EPS. On average, equities research analysts anticipate that Mobileye Global Inc. will post -0.07 EPS 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.