Migdal Insurance & Financial Holdings Ltd. Buys 724,695 Shares of Mobileye Global Inc. (NASDAQ:MBLY)

Migdal Insurance & Financial Holdings Ltd. lifted its stake in Mobileye Global Inc. (NASDAQ:MBLY - Free Report) by 433.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 891,779 shares of the company's stock after acquiring an additional 724,695 shares during the quarter. Migdal Insurance & Financial Holdings Ltd. owned 0.11% of Mobileye Global worth $12,837,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in MBLY. Perigon Wealth Management LLC increased its stake in Mobileye Global by 4.6% during the 1st quarter. Perigon Wealth Management LLC now owns 20,892 shares of the company's stock worth $301,000 after buying an additional 914 shares during the period. Rhumbline Advisers purchased a new stake in Mobileye Global during the 1st quarter worth approximately $27,000. Strategic Investment Solutions Inc. IL purchased a new stake in Mobileye Global during the 4th quarter worth approximately $40,000. Ancora Advisors LLC purchased a new stake in Mobileye Global during the 4th quarter worth approximately $40,000. Finally, Allianz SE purchased a new stake in Mobileye Global during the 4th quarter worth approximately $43,000. 13.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Mobileye Global news, 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 completion of 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 sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Boaz Ouriel sold 67,493 shares of the firm's stock in a transaction that occurred 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 transaction, the executive vice president directly owned 107,853 shares in the company, valued at approximately $1,735,354.77. The trade was a 38.49% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.80% of the company's stock.

Mobileye Global Stock Down 1.4%

Shares of NASDAQ:MBLY traded down $0.22 during trading on Friday, reaching $16.05. The stock had a trading volume of 4,589,688 shares, compared to its average volume of 5,836,790. The business has a fifty day moving average price of $16.62 and a 200-day moving average price of $15.92. The stock has a market cap of $13.03 billion, a P/E ratio of -4.36, a PEG ratio of 22.39 and a beta of 0.54. Mobileye Global Inc. has a fifty-two week low of $10.48 and a fifty-two week high of $25.09.

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

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MBLY. UBS Group increased their target price on shares of Mobileye Global from $15.00 to $18.00 and gave the stock a "neutral" rating in a research note on Monday, July 14th. JPMorgan Chase & Co. lifted their target price on shares of Mobileye Global from $10.00 to $12.00 and gave the company an "underweight" rating in a report on Thursday. Mizuho lifted their target price on shares of Mobileye Global from $15.00 to $18.00 and gave the company a "neutral" rating in a report on Tuesday, July 8th. Wells Fargo & Company lifted their target price on shares of Mobileye Global from $18.00 to $24.00 and gave the company an "overweight" rating in a report on Wednesday, July 9th. Finally, Wall Street Zen raised shares of Mobileye Global to a "sell" rating in a report on Tuesday, April 29th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $19.21.

Mobileye Global Company 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.