Triglav Skladi D.O.O. Makes New Investment in Mobileye Global Inc. (NASDAQ:MBLY)

Key Points

• Triglav Skladi D.O.O. has acquired 50,000 shares of Mobileye Global Inc. for approximately $720,000 during the first quarter.
• Major shareholder Corp Intel sold over 63 million shares at an average price of $16.05, significantly reducing its ownership position by 56.04%.
• Mobileye Global reported a $0.13 EPS for the last quarter, exceeding analysts' expectations, with a revenue of $506 million, marking a 15.3% year-over-year increase.

Triglav Skladi D.O.O. bought a new position in Mobileye Global Inc. (NASDAQ:MBLY - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 50,000 shares of the company's stock, valued at approximately $720,000.

Several other institutional investors have also recently made changes to their positions in MBLY. Dimensional Fund Advisors LP bought a new position in Mobileye Global during the fourth quarter valued at about $27,155,000. Light Street Capital Management LLC bought a new position in Mobileye Global during the fourth quarter valued at about $15,276,000. Migdal Insurance & Financial Holdings Ltd. boosted its position in Mobileye Global by 433.7% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 891,779 shares of the company's stock worth $12,837,000 after purchasing an additional 724,695 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in Mobileye Global during the fourth quarter worth about $13,897,000. Finally, The Manufacturers Life Insurance Company boosted its position in Mobileye Global by 4.6% during the fourth quarter. The Manufacturers Life Insurance Company now owns 14,211,880 shares of the company's stock worth $283,101,000 after purchasing an additional 621,062 shares during the period. Institutional investors own 13.25% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on MBLY. Royal Bank Of Canada increased their target price on shares of Mobileye Global from $14.00 to $17.00 and gave the stock a "sector perform" rating in a research report on Tuesday, July 29th. JPMorgan Chase & Co. increased their target price on shares of Mobileye Global from $10.00 to $12.00 and gave the stock an "underweight" rating in a research report on Thursday, July 17th. Needham & Company LLC reiterated a "buy" rating and set a $18.00 target price on shares of Mobileye Global in a research report on Friday, July 25th. The Goldman Sachs Group lowered shares of Mobileye Global from a "buy" rating to a "neutral" rating and set a $17.00 target price for the company. in a research report on Monday, June 9th. Finally, Robert W. Baird cut their target price on shares of Mobileye Global from $23.00 to $22.00 and set an "outperform" rating for the company in a research report on Friday, July 25th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $19.67.

Mobileye Global Stock Performance

MBLY traded down $0.29 on Thursday, reaching $13.96. The company had a trading volume of 4,273,533 shares, compared to its average volume of 7,379,315. The business has a 50 day simple moving average of $15.96 and a 200 day simple moving average of $15.55. The company has a market cap of $11.38 billion, a price-to-earnings ratio of -3.82, a P/E/G ratio of 9.33 and a beta of 0.52. Mobileye Global Inc. has a 52-week low of $10.48 and a 52-week high of $22.51.

Mobileye Global (NASDAQ:MBLY - Get Free Report) last announced its earnings results on Thursday, July 24th. The company reported $0.13 earnings per share for the quarter, beating analysts' consensus estimates of $0.11 by $0.02. The business had revenue of $506.00 million for the quarter, compared to the consensus estimate of $466.42 million. Mobileye Global had a negative net margin of 153.91% and a positive return on equity of 0.73%. Mobileye Global's quarterly revenue was up 15.3% on a year-over-year basis. During the same period last year, the firm posted $0.09 earnings per share. As a group, equities research analysts predict that Mobileye Global Inc. will post 0.01 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Corp Intel sold 63,731,985 shares of the firm's stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $16.05, for a total value of $1,022,898,359.25. Following the sale, the insider directly owned 50,000,000 shares of the company's stock, valued at $802,500,000. This trade represents a 56.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.80% of the stock is owned by corporate insiders.

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.