US Bancorp DE Trims Stake in Mobileye Global Inc. (NASDAQ:MBLY)

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 cut its position in shares of Mobileye Global Inc. (NASDAQ:MBLY - Free Report) by 23.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 105,268 shares of the company's stock after selling 31,467 shares during the period. US Bancorp DE's holdings in Mobileye Global were worth $1,515,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MBLY. BCGM Wealth Management LLC raised its position in Mobileye Global by 7.0% in the 1st quarter. BCGM Wealth Management LLC now owns 213,953 shares of the company's stock valued at $3,080,000 after purchasing an additional 13,995 shares during the last quarter. Shufro Rose & Co. LLC grew its stake in Mobileye Global by 50.0% in the first quarter. Shufro Rose & Co. LLC now owns 30,000 shares of the company's stock valued at $432,000 after acquiring an additional 10,000 shares during the period. XTX Topco Ltd boosted its position in shares of Mobileye Global by 922.3% during the first quarter. XTX Topco Ltd now owns 105,481 shares of the company's stock worth $1,518,000 after buying an additional 95,163 shares during the period. Corton Capital Inc. acquired a new position in Mobileye Global during the first quarter valued at approximately $300,000. Finally, LPL Financial LLC boosted its position in Mobileye Global by 27.5% during the first quarter. LPL Financial LLC now owns 188,698 shares of the company's stock valued at $2,716,000 after purchasing an additional 40,724 shares during the last quarter. 13.25% of the stock is owned by hedge funds and other institutional investors.

Mobileye Global Trading Up 2.1%

Shares of Mobileye Global stock traded up $0.30 during trading on Wednesday, hitting $14.25. The stock had a trading volume of 1,313,902 shares, compared to its average volume of 5,498,544. The firm has a market cap of $11.61 billion, a price-to-earnings ratio of -3.90, a P/E/G ratio of 8.84 and a beta of 0.52. Mobileye Global Inc. has a 12 month low of $10.48 and a 12 month high of $22.51. The business's 50-day moving average is $16.07 and its 200 day moving average is $15.58.

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

Analyst Upgrades and Downgrades

MBLY has been the subject of several recent research reports. TD Cowen reduced 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. The Goldman Sachs Group lowered Mobileye Global from a "buy" rating to a "neutral" rating and set a $17.00 price objective on the stock. in a research note on Monday, June 9th. JPMorgan Chase & Co. upped their price objective on Mobileye Global from $10.00 to $12.00 and gave the company an "underweight" rating in a research note on Thursday, July 17th. Mizuho dropped their price objective on Mobileye Global from $18.00 to $17.00 and set a "neutral" rating on the stock in a research note on Friday, July 25th. Finally, Barclays upped their price objective on Mobileye Global from $14.00 to $16.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. One equities 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. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $19.67.

Insiders Place Their Bets

In other 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 value of $1,085,962.37. Following the transaction, the executive vice president owned 107,853 shares in the company, valued at approximately $1,735,354.77. The trade was a 38.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Corp Intel sold 63,731,985 shares of the business'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 transaction, the insider owned 50,000,000 shares in the company, valued at approximately $802,500,000. This 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 corporate 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.