Econ Financial Services Corp Purchases Shares of 73,236 Mobileye Global Inc. (NASDAQ:MBLY)

Econ Financial Services Corp acquired a new stake in shares of Mobileye Global Inc. (NASDAQ:MBLY - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 73,236 shares of the company's stock, valued at approximately $1,054,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company lifted its stake in 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 acquiring an additional 621,062 shares during the last quarter. Norges Bank acquired a new stake in Mobileye Global in the fourth quarter valued at approximately $95,937,000. Primecap Management Co. CA lifted its stake in 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 acquiring an additional 40,000 shares during the last quarter. Vanguard Group Inc. lifted its stake in 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 acquiring an additional 45,756 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Mobileye Global by 0.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,534,574 shares of the company's stock valued at $30,569,000 after acquiring an additional 8,340 shares during the last quarter. 13.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. The Goldman Sachs Group cut shares of Mobileye Global from a "buy" rating to a "neutral" rating and set a $17.00 target price for the company. in a research note on Monday, June 9th. Wall Street Zen upgraded shares of Mobileye Global to a "sell" rating in a research note on Tuesday, April 29th. Barclays reiterated an "equal weight" rating and issued a $14.00 target price (down from $22.00) on shares of Mobileye Global in a research note on Tuesday, April 15th. BNP Paribas upgraded shares of Mobileye Global from an "underperform" rating to a "neutral" rating and set a $11.00 price objective for the company in a research note on Wednesday, April 23rd. Finally, TD Cowen boosted their price objective on shares of Mobileye Global from $15.00 to $18.00 and gave the stock a "buy" rating in a research note on Friday, April 25th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Mobileye Global presently has an average rating of "Hold" and an average price target of $18.63.

Mobileye Global Trading Down 0.5%

NASDAQ:MBLY traded down $0.10 during trading hours on Friday, hitting $18.34. 3,481,162 shares of the company traded hands, compared to its average volume of 5,436,717. The stock has a market capitalization of $14.89 billion, a price-to-earnings ratio of -4.98, a P/E/G ratio of 165.57 and a beta of 0.48. Mobileye Global Inc. has a twelve month low of $10.48 and a twelve month high of $28.73. The firm has a 50-day moving average of $15.72 and a 200 day moving average of $16.07.

Mobileye Global (NASDAQ:MBLY - Get Free Report) last released its earnings results on Thursday, April 24th. The company reported $0.08 EPS for the quarter, meeting the consensus estimate of $0.08. The firm had revenue of $438.00 million during the quarter, compared to analysts' expectations of $434.87 million. Mobileye Global had a negative net margin of 160.50% and a positive return on equity of 0.54%. The business's quarterly revenue was up 83.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.07) EPS. Equities research analysts predict that Mobileye Global Inc. will post 0.01 earnings per share for the current fiscal year.

Insider Activity at Mobileye Global

In other Mobileye Global news, EVP Boaz Ouriel sold 67,493 shares of the business's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $16.09, for a total value of $1,085,962.37. Following the sale, the executive vice president now owns 107,853 shares of the company's stock, valued at $1,735,354.77. The trade was a 38.49% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 2.80% of the company's stock.

About Mobileye Global

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.