Headlands Technologies LLC Increases Position in Mobileye Global Inc. $MBLY

Key Points

• Headlands Technologies increased its Mobileye position by 314.1% in the second quarter, bringing its holdings to 250,372 shares valued at approximately $2.42 million. Other institutional investors also raised their stakes, with institutions collectively owning 13.25% of the company.
• Mobileye directors made insider purchases totaling roughly $199,000 in late July and early August. Corporate insiders own 10% of the company’s stock.
• Mobileye reported quarterly EPS of $0.19, exceeding the $0.06 analyst estimate, while revenue of $508 million topped expectations. Despite the earnings beat, analysts maintain a consensus “Hold” rating with a $12.65 target price, compared with the stock’s recent price of $8.58.

Headlands Technologies LLC lifted its position in Mobileye Global Inc. (NASDAQ:MBLY - Free Report) by 314.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 250,372 shares of the company's stock after acquiring an additional 189,909 shares during the period. Headlands Technologies LLC's holdings in Mobileye Global were worth $2,424,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Two Sigma Investments LP increased its holdings in shares of Mobileye Global by 131.9% in the third quarter. Two Sigma Investments LP now owns 4,383,735 shares of the company's stock valued at $61,898,000 after purchasing an additional 2,493,181 shares during the period. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in shares of Mobileye Global by 24.5% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,585,733 shares of the company's stock worth $24,634,000 after purchasing an additional 705,400 shares during the period. Engineers Gate Manager LP boosted its position in Mobileye Global by 140.9% in the fourth quarter. Engineers Gate Manager LP now owns 3,577,407 shares of the company's stock valued at $37,348,000 after buying an additional 2,092,250 shares during the last quarter. DNB Asset Management AS increased its holdings in Mobileye Global by 23.1% in the 4th quarter. DNB Asset Management AS now owns 3,506,480 shares of the company's stock worth $36,608,000 after buying an additional 658,585 shares during the period. Finally, Vanguard Group Inc. increased its holdings in Mobileye Global by 65.5% in the 3rd quarter. Vanguard Group Inc. now owns 3,065,586 shares of the company's stock worth $43,286,000 after buying an additional 1,213,448 shares during the period. Institutional investors and hedge funds own 13.25% of the company's stock.

Insider Transactions at Mobileye Global

In other news, Director Frank D. Yeary acquired 12,360 shares of the firm's stock in a transaction on Thursday, July 30th. The stock was acquired at an average price of $7.98 per share, for a total transaction of $98,632.80. Following the completion of the transaction, the director owned 12,360 shares in the company, valued at approximately $98,632.80. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Safroadu Yeboah-Amankwah bought 11,841 shares of the stock in a transaction dated Thursday, August 6th. The shares were purchased at an average cost of $8.46 per share, for a total transaction of $100,174.86. Following the completion of the purchase, the director owned 84,336 shares in the company, valued at approximately $713,482.56. This represents a 16.33% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 10.00% of the company's stock.

Mobileye Global Price Performance

NASDAQ:MBLY opened at $8.58 on Monday. The firm has a market cap of $7.21 billion, a price-to-earnings ratio of -1.72, a price-to-earnings-growth ratio of 2.82 and a beta of 1.20. The company has a 50 day moving average price of $8.78 and a 200-day moving average price of $8.71. Mobileye Global Inc. has a 1-year low of $6.47 and a 1-year high of $15.81.

Mobileye Global (NASDAQ:MBLY - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.06 by $0.13. The firm had revenue of $508.00 million for the quarter, compared to the consensus estimate of $480.51 million. Mobileye Global had a negative net margin of 201.49% and a positive return on equity of 0.70%. The firm's quarterly revenue was up .4% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.08) earnings per share. On average, sell-side analysts anticipate that Mobileye Global Inc. will post 0.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have commented on MBLY. UBS Group decreased their price objective on shares of Mobileye Global from $10.00 to $9.00 and set a "neutral" rating for the company in a research note on Friday, July 24th. Needham & Company LLC restated a "buy" rating and set a $13.00 target price on shares of Mobileye Global in a research report on Friday, July 24th. Mizuho lowered their price target on shares of Mobileye Global from $9.00 to $8.00 and set a "neutral" rating on the stock in a report on Friday, July 24th. Tigress Financial cut their price target on Mobileye Global from $25.00 to $18.00 and set a "buy" rating on the stock in a research report on Thursday, July 30th. Finally, Royal Bank Of Canada reduced their price objective on Mobileye Global from $10.00 to $7.00 and set a "sector perform" rating for the company in a research note on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Mobileye Global has an average rating of "Hold" and a consensus target price of $12.65.

About Mobileye Global

Mobileye Global Inc NASDAQ: MBLY is a leader in the development of advanced driver-assistance systems (ADAS) and autonomous driving technologies. Headquartered in Jerusalem, Israel, the company designs and supplies computer vision-based solutions that enable vehicles to detect and respond to road conditions, obstacles and signage. Mobileye's core offering centers on its proprietary EyeQ system-on-a-chip (SoC) family, which processes video streams from automotive cameras to deliver features such as lane-keeping assist, adaptive cruise control, collision prevention and traffic sign recognition.

Founded in 1999 by Prof.

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