Headlands Technologies LLC Reduces Holdings in Mobileye Global Inc. (NASDAQ:MBLY)

Key Points

• Headlands Technologies LLC has reduced its stake in Mobileye Global Inc. (NASDAQ:MBLY) by 58.6%, selling 62,460 shares and leaving it with 44,182 shares valued at approximately $636,000.
• During the fourth quarter, various hedge funds, such as LPL Financial LLC and Rockefeller Capital Management L.P., increased their holdings in Mobileye Global, highlighting continued institutional interest in the company.
• Mobileye Global reported a positive earnings surprise with $0.13 EPS for the last quarter, beating expectations, and its revenue of $506 million exceeded analysts' forecasts, showcasing growth over the past year.

Headlands Technologies LLC lessened its holdings in Mobileye Global Inc. (NASDAQ:MBLY - Free Report) by 58.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 44,182 shares of the company's stock after selling 62,460 shares during the period. Headlands Technologies LLC's holdings in Mobileye Global were worth $636,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of MBLY. Dimensional Fund Advisors LP bought a new position in Mobileye Global during the fourth quarter valued at $27,155,000. Light Street Capital Management LLC bought a new position in Mobileye Global during the fourth quarter valued at $15,276,000. Migdal Insurance & Financial Holdings Ltd. lifted its position in Mobileye Global by 433.7% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 891,779 shares of the company's stock valued at $12,837,000 after purchasing an additional 724,695 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new position in Mobileye Global during the fourth quarter valued at $13,897,000. Finally, The Manufacturers Life Insurance Company lifted its position in Mobileye Global by 4.6% during 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 purchasing an additional 621,062 shares during the last quarter. Hedge funds and other institutional investors own 13.25% of the company's stock.

Insider Activity

In other Mobileye Global news, major shareholder Corp Intel sold 63,731,985 shares of Mobileye Global stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $16.05, for a total value of $1,022,898,359.25. Following the transaction, the insider owned 50,000,000 shares in the company, valued at $802,500,000. The trade was a 56.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Boaz Ouriel sold 67,493 shares of Mobileye Global stock in a transaction dated 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 completion of the transaction, the executive vice president owned 107,853 shares in the company, valued at $1,735,354.77. This trade represents a 38.49% decrease in their position. The disclosure for this sale can be found here. 1.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Royal Bank Of Canada raised their price target on Mobileye Global from $14.00 to $17.00 and gave the stock a "sector perform" rating in a research report on Tuesday, July 29th. Wells Fargo & Company raised their price target on Mobileye Global from $18.00 to $24.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 9th. UBS Group raised their price target on Mobileye Global from $15.00 to $18.00 and gave the stock a "neutral" rating in a research report on Monday, July 14th. Barclays raised their price target on Mobileye Global from $14.00 to $16.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. Finally, Mizuho lowered their price target on Mobileye Global from $18.00 to $17.00 and set a "neutral" rating for the company in a research report on Friday, July 25th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $19.67.

Mobileye Global Trading Up 2.1%

Shares of Mobileye Global stock traded up $0.30 during trading on Wednesday, hitting $14.25. 1,976,209 shares of the stock traded hands, compared to its average volume of 5,502,514. The firm has a market cap of $11.61 billion, a P/E ratio of -3.92, a price-to-earnings-growth ratio of 8.84 and a beta of 0.52. Mobileye Global Inc. has a 52-week low of $10.48 and a 52-week high of $22.51. The stock's fifty day simple moving average is $16.07 and its 200 day simple moving average is $15.58.

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

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.