Arcadia Investment Management Corp MI Increases Stock Holdings in Mobileye Global Inc. (NASDAQ:MBLY)

Arcadia Investment Management Corp MI raised its stake in Mobileye Global Inc. (NASDAQ:MBLY - Free Report) by 42.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 75,036 shares of the company's stock after purchasing an additional 22,300 shares during the quarter. Arcadia Investment Management Corp MI's holdings in Mobileye Global were worth $1,080,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. The Manufacturers Life Insurance Company boosted its stake in shares of Mobileye Global by 4.6% in the fourth quarter. The Manufacturers Life Insurance Company now owns 14,211,880 shares of the company's stock valued at $283,101,000 after buying an additional 621,062 shares in the last quarter. Norges Bank purchased a new stake in shares of Mobileye Global in the fourth quarter valued at approximately $95,937,000. DAVENPORT & Co LLC boosted its stake in shares of Mobileye Global by 7.6% in the first quarter. DAVENPORT & Co LLC now owns 2,369,612 shares of the company's stock valued at $34,111,000 after buying an additional 167,333 shares in the last quarter. Primecap Management Co. CA boosted its stake in shares of Mobileye Global by 2.3% in the fourth quarter. Primecap Management Co. CA now owns 1,804,400 shares of the company's stock valued at $35,944,000 after buying an additional 40,000 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Mobileye Global by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 1,715,928 shares of the company's stock valued at $34,181,000 after buying an additional 45,756 shares in the last quarter. 13.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MBLY has been the topic of a number of research analyst reports. UBS Group decreased their target price on Mobileye Global from $17.00 to $14.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. Robert W. Baird boosted their target price on Mobileye Global from $17.00 to $18.00 and gave the stock an "outperform" rating in a research report on Friday, April 25th. The Goldman Sachs Group cut Mobileye Global from a "buy" rating to a "neutral" rating and set a $17.00 price target for the company. in a report on Monday, June 9th. Piper Sandler boosted their price target on Mobileye Global from $16.00 to $17.00 and gave the stock a "neutral" rating in a report on Thursday, March 20th. Finally, Mizuho boosted their price target on Mobileye Global from $15.00 to $18.00 and gave the stock a "neutral" rating in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $18.79.

Mobileye Global Stock Up 1.2%

MBLY stock opened at $18.64 on Wednesday. Mobileye Global Inc. has a 52-week low of $10.48 and a 52-week high of $27.80. The stock's 50 day moving average is $16.39 and its two-hundred day moving average is $16.09. The company has a market capitalization of $15.14 billion, a PE ratio of -5.07, a P/E/G ratio of 166.20 and a beta of 0.54.

Mobileye Global (NASDAQ:MBLY - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The company reported $0.08 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.08. The company had revenue of $438.00 million for the quarter, compared to the consensus estimate of $434.87 million. Mobileye Global had a positive return on equity of 0.54% and a negative net margin of 160.50%. Mobileye Global's revenue for the quarter was up 83.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.07) EPS. As a group, sell-side analysts anticipate that Mobileye Global Inc. will post 0.01 EPS for the current year.

Insider Activity at Mobileye Global

In other news, EVP Boaz Ouriel sold 67,493 shares of Mobileye Global stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $16.09, for a total value of $1,085,962.37. Following the completion of the transaction, the executive vice president owned 107,853 shares in the company, valued at approximately $1,735,354.77. This trade represents a 38.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.80% of the company's stock.

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.

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