Corton Capital Inc. Buys Shares of 20,870 Mobileye Global Inc. (NASDAQ:MBLY)

Key Points

• Corton Capital Inc. has acquired 20,870 shares of Mobileye Global Inc. (NASDAQ:MBLY), valuing its stake at approximately $300,000, which constitutes 1.0% of its investment portfolio.
• Several institutional investors significantly increased their stakes in Mobileye Global in the fourth quarter, with Commonwealth Equity Services LLC raising their holdings by 273.1% and Vanguard Group Inc. increasing theirs by 2.7%.
• Mobileye Global recently reported an earnings per share (EPS) of $0.13 for the last quarter, surpassing analysts’ expectations of $0.11 with a revenue increase of 15.3% year-over-year.

Corton Capital Inc. bought a new position in shares of Mobileye Global Inc. (NASDAQ:MBLY - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 20,870 shares of the company's stock, valued at approximately $300,000. Mobileye Global accounts for approximately 1.0% of Corton Capital Inc.'s investment portfolio, making the stock its 16th largest holding.

Other large investors also recently made changes to their positions in the company. Rhumbline Advisers acquired a new position in Mobileye Global during the 1st quarter worth about $27,000. Strategic Investment Solutions Inc. IL acquired a new position in Mobileye Global during the 4th quarter worth about $40,000. Ancora Advisors LLC acquired a new position in Mobileye Global during the 4th quarter worth about $40,000. Allianz SE acquired a new position in Mobileye Global during the 4th quarter worth about $43,000. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its holdings in Mobileye Global by 108.4% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 6,053 shares of the company's stock worth $87,000 after buying an additional 3,149 shares during the period. Institutional investors own 13.25% of the company's stock.

Mobileye Global Stock Up 3.1%

MBLY stock traded up $0.44 during mid-day trading on Thursday, reaching $14.39. 5,781,333 shares of the company traded hands, compared to its average volume of 5,541,596. Mobileye Global Inc. has a fifty-two week low of $10.48 and a fifty-two week high of $22.51. The firm's 50 day moving average price is $16.47 and its 200 day moving average price is $15.74. The stock has a market cap of $11.69 billion, a price-to-earnings ratio of -3.94, a P/E/G ratio of 11.69 and a beta of 0.54.

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

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 stock was sold at an average price of $16.09, for a total value of $1,085,962.37. Following the transaction, the executive vice president owned 107,853 shares of the company's stock, valued at $1,735,354.77. This represents a 38.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 value of $1,022,898,359.25. Following the transaction, the insider directly owned 50,000,000 shares in the company, valued at $802,500,000. This trade represents a 56.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MBLY. TD Cowen cut their target price on Mobileye Global from $22.00 to $20.00 and set a "buy" rating on the stock in a report on Friday, July 25th. Royal Bank Of Canada lifted their price objective on Mobileye Global from $14.00 to $17.00 and gave the stock a "sector perform" rating in a research report on Tuesday. Canaccord Genuity Group lifted their price objective on Mobileye Global from $25.00 to $30.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Wells Fargo & Company lifted their price objective on Mobileye Global from $18.00 to $24.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 9th. Finally, BNP Paribas raised Mobileye Global from an "underperform" rating to a "neutral" rating and set a $11.00 price objective for the company in a research report on Wednesday, April 23rd. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $19.58.

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.