Baillie Gifford & Co. Sells 705,721 Shares of Mobileye Global Inc. (NASDAQ:MBLY)

Key Points

• Baillie Gifford & Co. reduced its stake in Mobileye Global Inc. by 4.9% during the first quarter, now holding 13,783,833 shares valued at approximately $198.42 million.
• Significant changes in holdings were observed among several hedge funds, with The Manufacturers Life Insurance Company increasing its position by 4.6% during the fourth quarter, now owning 14,211,880 shares worth $283 million.
• Mobileye Global recently reported earnings of $0.13 EPS for the quarter, exceeding the consensus estimate by $0.02, with revenue of $506 million, up 15.3% year-over-year.

Baillie Gifford & Co. reduced its position in shares of Mobileye Global Inc. (NASDAQ:MBLY - Free Report) by 4.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 13,783,833 shares of the company's stock after selling 705,721 shares during the quarter. Baillie Gifford & Co. owned approximately 1.70% of Mobileye Global worth $198,418,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mystic Asset Management Inc. raised its holdings in Mobileye Global by 3.6% during the 1st quarter. Mystic Asset Management Inc. now owns 20,175 shares of the company's stock valued at $290,000 after buying an additional 700 shares during the last quarter. Perigon Wealth Management LLC raised its holdings in Mobileye Global by 4.6% during the 1st quarter. Perigon Wealth Management LLC now owns 20,892 shares of the company's stock valued at $301,000 after buying an additional 914 shares during the last quarter. Rhumbline Advisers bought a new stake in Mobileye Global during the 1st quarter valued at $27,000. Strategic Investment Solutions Inc. IL bought a new stake in Mobileye Global during the 4th quarter valued at $40,000. Finally, Ancora Advisors LLC bought a new stake in Mobileye Global during the 4th quarter valued at $40,000. 13.25% of the stock is currently owned by institutional investors.

Insider Transactions at Mobileye Global

In other news, EVP Boaz Ouriel sold 67,493 shares of the firm's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $16.09, for a total transaction of $1,085,962.37. Following the sale, the executive vice president owned 107,853 shares of the company's stock, valued at $1,735,354.77. This trade represents a 38.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Corp Intel sold 63,731,985 shares of the firm's stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $16.05, for a total transaction of $1,022,898,359.25. Following the sale, the insider directly owned 50,000,000 shares in the company, valued at approximately $802,500,000. The trade was a 56.04% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.80% of the company's stock.

Mobileye Global Price Performance

MBLY stock traded down $0.70 during trading on Tuesday, hitting $14.49. 5,269,809 shares of the stock traded hands, compared to its average volume of 5,494,939. Mobileye Global Inc. has a 1 year low of $10.48 and a 1 year high of $22.51. The firm's 50 day moving average is $16.54 and its two-hundred day moving average is $15.76. The stock has a market cap of $11.77 billion, a price-to-earnings ratio of -3.96, a price-to-earnings-growth ratio of 15.31 and a beta of 0.54.

Mobileye Global (NASDAQ:MBLY - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.11 by $0.02. The firm 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%. The business's quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.09 EPS. As a group, analysts anticipate that Mobileye Global Inc. will post 0.01 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on MBLY shares. Wall Street Zen raised shares of Mobileye Global to a "sell" rating in a research report on Tuesday, April 29th. Canaccord Genuity Group boosted their price objective on shares of Mobileye Global from $25.00 to $30.00 and gave the company a "buy" rating in a research report on Friday. Robert W. Baird reduced their price objective on shares of Mobileye Global from $23.00 to $22.00 and set an "outperform" rating on the stock in a research report on Friday. JPMorgan Chase & Co. boosted their price objective on shares of Mobileye Global from $10.00 to $12.00 and gave the company an "underweight" rating in a research report on Thursday, July 17th. Finally, BNP Paribas raised shares of Mobileye Global from an "underperform" rating to a "neutral" rating and set a $11.00 price objective on the stock in a research report on Wednesday, April 23rd. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $19.58.

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.