New Age Alpha Advisors LLC Raises Holdings in Mobileye Global Inc. (NASDAQ:MBLY)

Key Points

• New Age Alpha Advisors LLC increased its stake in Mobileye Global Inc. by 100% in Q1, now owning a total of 100,000 shares valued at approximately $1.44 million.
• Mobileye Global reported Q2 earnings of $0.13 per share, exceeding analysts' expectations, with revenue of $506 million compared to expected $466.42 million.
• Institutional investors own 13.25% of Mobileye Global, highlighting ongoing interest as multiple hedge funds adjust their stakes in the company.

New Age Alpha Advisors LLC lifted its stake in shares of Mobileye Global Inc. (NASDAQ:MBLY - Free Report) by 100.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 100,000 shares of the company's stock after buying an additional 50,000 shares during the period. New Age Alpha Advisors LLC's holdings in Mobileye Global were worth $1,440,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. LPL Financial LLC lifted its holdings in Mobileye Global by 96.2% during the fourth quarter. LPL Financial LLC now owns 147,974 shares of the company's stock worth $2,948,000 after acquiring an additional 72,550 shares during the period. Vanguard Group Inc. raised its stake in shares of Mobileye Global by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 1,715,928 shares of the company's stock valued at $34,181,000 after buying an additional 45,756 shares during the period. Advisory Services Network LLC bought a new stake in shares of Mobileye Global in the fourth quarter valued at $181,000. Rockefeller Capital Management L.P. grew its position in shares of Mobileye Global by 77.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 32,766 shares of the company's stock valued at $653,000 after purchasing an additional 14,296 shares in the last quarter. Finally, XTX Topco Ltd purchased a new position in shares of Mobileye Global in the fourth quarter valued at $206,000. 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 the stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $16.05, for a total transaction of $1,022,898,359.25. Following the completion of the transaction, the insider owned 50,000,000 shares of the company's stock, valued at $802,500,000. This represents a 56.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Boaz Ouriel sold 67,493 shares of the stock in a transaction that occurred on 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 sale, the executive vice president directly owned 107,853 shares of the company's stock, valued at approximately $1,735,354.77. This represents a 38.49% decrease in their position. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by insiders.

Mobileye Global Stock Performance

NASDAQ MBLY traded up $0.58 on Tuesday, reaching $14.08. 2,535,554 shares of the stock traded hands, compared to its average volume of 5,508,243. The company has a fifty day moving average price of $16.12 and a 200-day moving average price of $15.59. The company has a market cap of $11.47 billion, a price-to-earnings ratio of -3.85, a PEG ratio of 8.91 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.

Mobileye Global (NASDAQ:MBLY - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.11 by $0.02. The firm had revenue of $506.00 million during 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% compared to the same quarter last year. During the same period in the previous year, the company posted $0.09 EPS. As a group, research analysts anticipate that Mobileye Global Inc. will post 0.01 earnings per share for the current fiscal year.

Analyst Ratings Changes

MBLY has been the subject of several recent analyst reports. Robert W. Baird reduced their target price on Mobileye Global from $23.00 to $22.00 and set an "outperform" rating for the company in a research report on Friday, July 25th. UBS Group lifted their price objective on Mobileye Global from $15.00 to $18.00 and gave the stock a "neutral" rating in a research report on Monday, July 14th. Wells Fargo & Company lifted their price target on Mobileye Global from $18.00 to $24.00 and gave the company an "overweight" rating in a research report on Wednesday, July 9th. The Goldman Sachs Group cut Mobileye Global from a "buy" rating to a "neutral" rating and set a $17.00 price objective for the company. in a research report on Monday, June 9th. Finally, Barclays increased their target price 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. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $19.67.

About Mobileye Global

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.