1832 Asset Management L.P. Buys 2,165,700 Shares of Mobileye Global Inc. (NASDAQ:MBLY)

1832 Asset Management L.P. lifted its stake in shares of Mobileye Global Inc. (NASDAQ:MBLY) by 5,308.1% during the first quarter, HoldingsChannel reports. The firm owned 2,206,500 shares of the company’s stock after acquiring an additional 2,165,700 shares during the quarter. 1832 Asset Management L.P.’s holdings in Mobileye Global were worth $70,939,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. TD Asset Management Inc raised its stake in 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 acquiring an additional 52,088 shares during the period. Pinebridge Investments L.P. raised its stake in Mobileye Global by 70.4% in the 4th quarter. Pinebridge Investments L.P. now owns 243,265 shares of the company’s stock valued at $10,537,000 after acquiring an additional 100,494 shares during the period. Mitsubishi UFJ Trust & Banking Corp bought a new stake in Mobileye Global in the 1st quarter valued at $1,294,000. Wells Fargo & Company MN raised its stake in Mobileye Global by 15.2% in the 4th quarter. Wells Fargo & Company MN now owns 263,855 shares of the company’s stock valued at $11,430,000 after acquiring an additional 34,763 shares during the period. Finally, Assetmark Inc. raised its stake in Mobileye Global by 2.2% in the 4th quarter. Assetmark Inc. now owns 108,331 shares of the company’s stock valued at $4,693,000 after acquiring an additional 2,346 shares during the period. Institutional investors own 13.25% of the company’s stock.

Mobileye Global Price Performance

NASDAQ:MBLY traded up $0.14 during trading hours 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 stock has a fifty day simple moving average of $26.76 and a 200-day simple moving average of $28.02. The company has a market capitalization of $17.11 billion, a P/E ratio of -101.04, a PEG ratio of 32.79 and a beta of 0.07. Mobileye Global Inc. has a twelve month low of $21.07 and a twelve month high of $44.48.

Mobileye Global (NASDAQ:MBLY) last released its quarterly earnings data 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 business had revenue of $239.00 million during the quarter, compared to analyst estimates of $226.60 million. Mobileye Global had a negative net margin of 8.92% and a positive return on equity of 1.76%. On average, equities analysts predict that Mobileye Global Inc. will post 0.09 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MBLY. JPMorgan Chase & Co. upped their price objective on Mobileye Global from $34.00 to $38.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Morgan Stanley lowered Mobileye Global from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $26.00 to $25.00 in a report on Friday, April 26th. Barclays decreased their price objective on Mobileye Global from $43.00 to $40.00 and set an “overweight” rating on the stock in a report on Tuesday, July 16th. HSBC began coverage on Mobileye Global in a report on Monday, July 15th. They issued a “buy” rating and a $33.00 price objective on the stock. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $36.00 price objective on shares of Mobileye Global in a report on Friday, April 26th. Three research analysts have rated the stock with a sell rating, one has issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.44.

Insider Activity at Mobileye Global

In other Mobileye Global news, Director Patrick P. Gelsinger acquired 2,000 shares of Mobileye Global stock in a transaction that occurred on Monday, April 29th. The shares were acquired 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 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. In other news, Director Patrick P. Gelsinger bought 1,611 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was purchased 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 owns 132,706 shares of the company’s stock, valued at $3,738,328.02. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Patrick P. Gelsinger bought 2,000 shares of the company’s stock in a transaction on Monday, April 29th. The stock was purchased 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 directly owns 131,095 shares of the company’s stock, valued at approximately $3,609,045.35. The disclosure for this purchase can be found here. 1.80% of the stock is currently owned by insiders.

Mobileye Global 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.