Mobileye Global Inc. (NASDAQ:MBLY) Shares Sold by Bank of America Corp DE

Bank of America Corp DE reduced its holdings in Mobileye Global Inc. (NASDAQ:MBLY - Free Report) by 16.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 982,334 shares of the company's stock after selling 192,754 shares during the period. Bank of America Corp DE owned approximately 0.12% of Mobileye Global worth $19,568,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Parkside Financial Bank & Trust boosted its stake in shares of Mobileye Global by 147.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,237 shares of the company's stock worth $25,000 after purchasing an additional 737 shares during the period. Global Retirement Partners LLC boosted its stake in shares of Mobileye Global by 136.9% during the 4th quarter. Global Retirement Partners LLC now owns 1,613 shares of the company's stock worth $32,000 after purchasing an additional 932 shares during the period. Strategic Investment Solutions Inc. IL purchased a new position in shares of Mobileye Global during the 4th quarter worth about $40,000. Ancora Advisors LLC purchased a new position in shares of Mobileye Global during the 4th quarter worth about $40,000. Finally, Allianz SE purchased a new position in shares of Mobileye Global during the 4th quarter worth about $43,000. 13.25% of the stock is owned by hedge funds and other institutional investors.

Mobileye Global Price Performance

NASDAQ:MBLY traded down $0.38 during trading hours on Friday, hitting $15.61. 2,413,532 shares of the company were exchanged, compared to its average volume of 5,490,821. The stock has a market capitalization of $12.68 billion, a price-to-earnings ratio of -4.09, a PEG ratio of 69.54 and a beta of 0.38. Mobileye Global Inc. has a 52-week low of $10.48 and a 52-week high of $33.26. The company's 50 day moving average price is $14.57 and its 200-day moving average price is $16.20.

Mobileye Global (NASDAQ:MBLY - Get Free Report) last released its earnings results on Thursday, April 24th. The company reported $0.08 earnings per share 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 negative net margin of 186.82% and a negative return on equity of 0.34%. Mobileye Global's revenue was up 83.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.07) EPS. On average, equities analysts predict that Mobileye Global Inc. will post 0.01 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Piper Sandler lifted their price objective on shares of Mobileye Global from $16.00 to $17.00 and gave the company a "neutral" rating in a report on Thursday, March 20th. Needham & Company LLC decreased their price objective on shares of Mobileye Global from $20.00 to $18.00 and set a "buy" rating for the company in a report on Thursday, April 24th. The Goldman Sachs Group decreased their price objective on shares of Mobileye Global from $20.00 to $17.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Wall Street Zen upgraded shares of Mobileye Global to a "sell" rating in a report on Tuesday, April 29th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Mobileye Global from $11.00 to $10.00 and set an "underweight" rating for the company in a report on Thursday, April 17th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $18.63.

Insiders Place Their Bets

In related news, EVP Boaz Ouriel sold 67,493 shares of the stock in a transaction on 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 now directly owns 107,853 shares of the company's stock, valued at approximately $1,735,354.77. This represents a 38.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 1.80% of the stock is owned by 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.