New Age Alpha Advisors LLC Acquires 50,000 Shares of 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 boosted its holdings in Mobileye Global Inc. (NASDAQ:MBLY - Free Report) by 100.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 100,000 shares of the company's stock after purchasing 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 reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Rhumbline Advisers bought a new stake in Mobileye Global in the first quarter worth $27,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Mobileye Global during the fourth quarter valued at about $40,000. Ancora Advisors LLC bought a new position in shares of Mobileye Global during the fourth quarter valued at about $40,000. PNC Financial Services Group Inc. raised its stake in shares of Mobileye Global by 1,799.7% during the first quarter. PNC Financial Services Group Inc. now owns 5,851 shares of the company's stock valued at $84,000 after acquiring an additional 5,543 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of Mobileye Global by 108.4% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 6,053 shares of the company's stock valued at $87,000 after acquiring an additional 3,149 shares during the last quarter. 13.25% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, 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 transaction of $1,085,962.37. Following the sale, the executive vice president owned 107,853 shares in the company, valued at $1,735,354.77. This represents a 38.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Corp Intel sold 63,731,985 shares of the stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $16.05, for a total transaction of $1,022,898,359.25. Following the sale, the insider owned 50,000,000 shares in the company, valued at approximately $802,500,000. The trade was a 56.04% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.80% of the company's stock.

Mobileye Global Stock Performance

Shares of MBLY opened at $13.98 on Friday. The stock has a market cap of $11.39 billion, a PE ratio of -3.83, a price-to-earnings-growth ratio of 9.11 and a beta of 0.52. Mobileye Global Inc. has a fifty-two week low of $10.48 and a fifty-two week high of $22.51. The firm's 50-day simple moving average is $16.22 and its two-hundred day simple moving average is $15.65.

Mobileye Global (NASDAQ:MBLY - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The company reported $0.13 earnings per share for the quarter, topping 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 negative net margin of 153.91% and a positive return on equity of 0.73%. The business's revenue was up 15.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.09 earnings per share. Equities research analysts predict that Mobileye Global Inc. will post 0.01 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on MBLY shares. UBS Group upped their price objective on shares of Mobileye Global from $15.00 to $18.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. Canaccord Genuity Group upped their price objective on shares of Mobileye Global from $25.00 to $30.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Robert W. Baird lowered their price objective on shares of Mobileye Global from $23.00 to $22.00 and set an "outperform" rating for the company in a research note on Friday, July 25th. Barclays upped their price objective on shares of Mobileye Global from $14.00 to $16.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $18.00 price objective on shares of Mobileye Global in a research note on Friday, July 25th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, Mobileye Global presently has an average rating of "Hold" and an average price target 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.

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