Envestnet Asset Management Inc. Acquires 6,026 Shares of Mobileye Global Inc. (NASDAQ:MBLY)

Envestnet Asset Management Inc. grew its position in shares of Mobileye Global Inc. (NASDAQ:MBLY) by 1.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 394,835 shares of the company’s stock after buying an additional 6,026 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Mobileye Global were worth $11,089,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. Wells Fargo & Company MN grew its position in shares of Mobileye Global by 15.2% during the 4th quarter. Wells Fargo & Company MN now owns 263,855 shares of the company’s stock valued at $11,430,000 after purchasing an additional 34,763 shares in the last quarter. US Bancorp DE raised its stake in shares of Mobileye Global by 55.5% during the fourth quarter. US Bancorp DE now owns 70,186 shares of the company’s stock valued at $3,040,000 after acquiring an additional 25,061 shares during the last quarter. Steward Partners Investment Advisory LLC increased its position in shares of Mobileye Global by 41.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 15,706 shares of the company’s stock valued at $680,000 after buying an additional 4,585 shares during the period. TD Asset Management Inc grew its holdings in Mobileye Global by 59.2% in the fourth quarter. TD Asset Management Inc now owns 140,083 shares of the company’s stock worth $6,068,000 after purchasing an additional 52,088 shares during the period. Finally, Bank of Nova Scotia purchased a new stake in Mobileye Global in the fourth quarter worth about $402,000. Institutional investors own 13.25% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on MBLY shares. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $15.00 price objective on shares of Mobileye Global in a research report on Tuesday, September 10th. Daiwa America cut Mobileye Global from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 5th. BNP Paribas lowered Mobileye Global from an “outperform” rating to a “neutral” rating and set a $17.00 price target for the company. in a research note on Monday, August 5th. Robert W. Baird dropped their price target on Mobileye Global from $40.00 to $29.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Finally, Needham & Company LLC lowered their price objective on Mobileye Global from $36.00 to $25.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Two equities research 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 stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $30.81.

Insider Buying and Selling at Mobileye Global

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

Mobileye Global Trading Up 10.5 %

Shares of NASDAQ:MBLY opened at $13.78 on Friday. Mobileye Global Inc. has a twelve month low of $10.48 and a twelve month high of $44.48. The firm has a market cap of $11.15 billion, a P/E ratio of -65.62 and a beta of 0.08. The company has a 50 day moving average of $15.12 and a 200-day moving average of $24.05.

Mobileye Global (NASDAQ:MBLY) last announced its earnings results on Thursday, August 1st. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.01. Mobileye Global had a negative net margin of 12.14% and a positive return on equity of 1.32%. The company had revenue of $439.00 million for the quarter, compared to the consensus estimate of $424.34 million. During the same period in the previous year, the business earned $0.11 EPS. The company’s revenue was down 3.3% on a year-over-year basis. Equities research analysts forecast that Mobileye Global Inc. will post -0.06 EPS for the current year.

About Mobileye Global

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.