Bank of America Corp DE Sells 192,754 Shares of Mobileye Global Inc. (NASDAQ:MBLY)

Bank of America Corp DE lessened its position in shares of Mobileye Global Inc. (NASDAQ:MBLY - Free Report) by 16.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in MBLY. ARK Investment Management LLC boosted its stake in Mobileye Global by 89.4% in the 4th quarter. ARK Investment Management LLC now owns 141,812 shares of the company's stock valued at $2,825,000 after purchasing an additional 66,934 shares during the period. Handelsbanken Fonder AB bought a new stake in shares of Mobileye Global in the fourth quarter valued at about $442,000. Yiheng Capital Management L.P. acquired a new position in shares of Mobileye Global in the fourth quarter valued at about $14,940,000. Slow Capital Inc. grew its stake in shares of Mobileye Global by 440.7% in the fourth quarter. Slow Capital Inc. now owns 246,314 shares of the company's stock valued at $4,907,000 after acquiring an additional 200,757 shares in the last quarter. Finally, Atria Wealth Solutions Inc. increased its position in Mobileye Global by 27.0% during the fourth quarter. Atria Wealth Solutions Inc. now owns 15,507 shares of the company's stock worth $309,000 after acquiring an additional 3,296 shares during the period. Institutional investors and hedge funds own 13.25% of the company's stock.

Mobileye Global Stock Performance

Shares of NASDAQ MBLY opened at $15.72 on Tuesday. The firm has a 50 day moving average price of $14.47 and a two-hundred day moving average price of $16.19. The stock has a market cap of $12.76 billion, a P/E ratio of -4.12, a price-to-earnings-growth 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.

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 for the quarter, meeting analysts' consensus estimates of $0.08. The business had revenue of $438.00 million during the quarter, compared to the consensus estimate of $434.87 million. Mobileye Global had a negative return on equity of 0.34% and a negative net margin of 186.82%. Mobileye Global's quarterly revenue was up 83.3% on a year-over-year basis. During the same period in the prior year, the business posted ($0.07) earnings per share. Analysts predict that Mobileye Global Inc. will post 0.01 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Mizuho decreased their target price on shares of Mobileye Global from $16.00 to $15.00 and set a "neutral" rating on the stock in a research report on Friday, April 25th. The Goldman Sachs Group dropped their price objective on Mobileye Global from $20.00 to $17.00 and set a "buy" rating for the company in a report on Thursday, April 10th. StockNews.com raised Mobileye Global to a "sell" rating in a report on Tuesday, April 29th. BNP Paribas raised Mobileye Global from an "underperform" rating to a "neutral" rating and set a $11.00 price target for the company in a research note on Wednesday, April 23rd. Finally, Bank of America raised shares of Mobileye Global from an "underperform" rating to a "neutral" rating and upped their price objective for the stock from $12.00 to $19.00 in a research report on Monday, February 10th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Mobileye Global presently has a consensus rating of "Hold" and an average target price of $18.63.

Insider Activity

In other 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 completion of the sale, the executive vice president now directly owns 107,853 shares in the company, valued at $1,735,354.77. This represents a 38.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 2.80% 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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