Renaissance Capital LLC Purchases 16,013 Shares of Mobileye Global Inc. (NASDAQ:MBLY)

Renaissance Capital LLC increased its stake in Mobileye Global Inc. (NASDAQ:MBLY) by 20.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 95,903 shares of the company’s stock after purchasing an additional 16,013 shares during the quarter. Mobileye Global comprises about 0.9% of Renaissance Capital LLC’s holdings, making the stock its 25th largest position. Renaissance Capital LLC’s holdings in Mobileye Global were worth $1,314,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Green Alpha Advisors LLC raised its stake in shares of Mobileye Global by 2.6% during the first quarter. Green Alpha Advisors LLC now owns 19,609 shares of the company’s stock valued at $630,000 after acquiring an additional 500 shares during the last quarter. Perigon Wealth Management LLC grew its position in Mobileye Global by 6.7% during the 1st quarter. Perigon Wealth Management LLC now owns 10,592 shares of the company’s stock valued at $341,000 after purchasing an additional 664 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in Mobileye Global by 9.9% in the 1st quarter. Advisors Asset Management Inc. now owns 8,608 shares of the company’s stock worth $277,000 after acquiring an additional 774 shares during the last quarter. Register Financial Advisors LLC bought a new stake in Mobileye Global in the 1st quarter worth about $32,000. Finally, B. Riley Wealth Advisors Inc. raised its stake in Mobileye Global by 24.7% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 6,299 shares of the company’s stock valued at $203,000 after buying an additional 1,248 shares during the last quarter. 13.25% of the stock is owned by hedge funds and other institutional investors.

Mobileye Global Price Performance

Shares of MBLY stock opened at $12.17 on Wednesday. The company has a market capitalization of $9.85 billion, a PE ratio of -57.95 and a beta of 0.08. The firm’s 50-day moving average is $13.23 and its two-hundred day moving average is $22.38. Mobileye Global Inc. has a 12 month low of $10.48 and a 12 month high of $44.48.

Mobileye Global (NASDAQ:MBLY) last released its quarterly earnings results 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 for the quarter, compared to analyst estimates of $424.34 million. Mobileye Global had a negative net margin of 12.14% and a positive return on equity of 1.32%. The business’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.11 EPS. Sell-side analysts forecast that Mobileye Global Inc. will post -0.06 EPS for the current year.

Insider Transactions at Mobileye Global

In related news, Director Patrick P. Gelsinger bought 6,400 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were bought at an average price of $15.48 per share, with a total value of $99,072.00. Following the completion of the transaction, the director now directly owns 139,106 shares of the company’s stock, valued at $2,153,360.88. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Amnon Shashua acquired 631,963 shares of Mobileye Global stock in a transaction dated Friday, August 2nd. The shares were acquired 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 owns 4,080,097 shares of the company’s stock, valued at $67,362,401.47. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Patrick P. Gelsinger acquired 6,400 shares of the business’s stock in a transaction on Monday, August 5th. The shares were bought at an average cost of $15.48 per share, for a total transaction of $99,072.00. Following the acquisition, the director now owns 139,106 shares of the company’s stock, valued at $2,153,360.88. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on MBLY shares. Robert W. Baird lowered their price target on shares of Mobileye Global from $40.00 to $29.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Hsbc Global Res upgraded Mobileye Global to a “strong-buy” rating in a report on Monday, July 15th. Fox Advisors lowered Mobileye Global from an “overweight” rating to an “equal weight” rating in a research report on Thursday, August 1st. Westpark Capital reaffirmed a “hold” rating on shares of Mobileye Global in a research note on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $15.00 price target on shares of Mobileye Global in a research note on Tuesday, September 10th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $25.55.

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.