Mobileye Global Inc. (NASDAQ:MBLY) Shares Sold by US Bancorp DE

Key Points

• US Bancorp DE has reduced its stake in Mobileye Global Inc. by 23.0%, now holding 105,268 shares valued at approximately $1.5 million.
• Analyst ratings for Mobileye Global show a mix, with one sell rating, nine hold ratings, and ten buy ratings, while the average price target is set at $19.67.
• Mobileye Global reported earnings of $0.13 EPS, exceeding estimates, and its revenue increased by 15.3% year-over-year, totaling $506 million for the quarter.

US Bancorp DE lessened its stake in Mobileye Global Inc. (NASDAQ:MBLY - Free Report) by 23.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 105,268 shares of the company's stock after selling 31,467 shares during the quarter. US Bancorp DE's holdings in Mobileye Global were worth $1,515,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MBLY. LPL Financial LLC increased its holdings in shares of Mobileye Global by 96.2% in the fourth quarter. LPL Financial LLC now owns 147,974 shares of the company's stock valued at $2,948,000 after purchasing an additional 72,550 shares during the last quarter. Vanguard Group Inc. grew its position in Mobileye Global by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 1,715,928 shares of the company's stock worth $34,181,000 after acquiring an additional 45,756 shares during the period. Advisory Services Network LLC purchased a new position in Mobileye Global in the fourth quarter worth approximately $181,000. Rockefeller Capital Management L.P. grew its position in Mobileye Global by 77.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 32,766 shares of the company's stock worth $653,000 after acquiring an additional 14,296 shares during the period. Finally, XTX Topco Ltd purchased a new position in Mobileye Global in the fourth quarter worth approximately $206,000. Institutional investors and hedge funds own 13.25% of the company's stock.

Analyst Upgrades and Downgrades

MBLY has been the topic of several research analyst reports. Canaccord Genuity Group boosted their price objective on shares of Mobileye Global from $25.00 to $30.00 and gave the company a "buy" rating in a report on Friday, July 25th. BNP Paribas upgraded shares of Mobileye Global from an "underperform" rating to a "neutral" rating and set a $11.00 price objective on the stock in a report on Wednesday, April 23rd. Wall Street Zen lowered shares of Mobileye Global from a "buy" rating to a "hold" rating in a report on Sunday. Wells Fargo & Company boosted their price objective 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, TD Cowen lowered their price target on Mobileye Global from $22.00 to $20.00 and set a "buy" rating for the company in a research report on Friday, July 25th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $19.67.

Mobileye Global Stock Performance

NASDAQ MBLY traded up $0.45 during trading on Tuesday, reaching $13.95. 5,192,461 shares of the company's stock were exchanged, compared to its average volume of 5,527,151. The stock has a market cap of $11.37 billion, a P/E ratio of -3.82, a price-to-earnings-growth ratio of 8.91 and a beta of 0.52. The company has a 50 day moving average price of $16.12 and a two-hundred day moving average price of $15.59. Mobileye Global Inc. has a 1 year low of $10.48 and a 1 year high of $22.51.

Mobileye Global (NASDAQ:MBLY - Get Free Report) last announced its quarterly earnings results 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 during 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%. Mobileye Global's revenue for the quarter was up 15.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.09 EPS. Research analysts forecast that Mobileye Global Inc. will post 0.01 EPS for the current fiscal year.

Insider Transactions at Mobileye Global

In other Mobileye Global news, EVP Boaz Ouriel sold 67,493 shares of Mobileye Global stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $16.09, for a total transaction of $1,085,962.37. Following the completion of the sale, the executive vice president directly owned 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 Securities & Exchange Commission, which is available at this link. Also, 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 sale, the insider owned 50,000,000 shares in the company, valued at $802,500,000. This trade represents a 56.04% decrease in their position. The disclosure for this sale can be found here. 1.80% of the stock is owned by insiders.

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.