Paloma Partners Management Co Sells 964,300 Shares of Mobileye Global Inc. $MBLY

Key Points

• Paloma Partners Management Co significantly reduced its stake in Mobileye Global Inc. by 70.7%, selling 964,300 shares and leaving them with 400,000 shares valued at approximately $5.76 million.
• Mobileye Global reported a 15.3% increase in revenue year-over-year during its last earnings call, achieving $506 million in revenue and surpassing analyst expectations.
• Recent analyst reports have varied in ratings for Mobileye Global, with targets ranging from $10 to $30, leading to a consensus target price of $19.67.

Paloma Partners Management Co lessened its holdings in shares of Mobileye Global Inc. (NASDAQ:MBLY - Free Report) by 70.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 400,000 shares of the company's stock after selling 964,300 shares during the period. Paloma Partners Management Co's holdings in Mobileye Global were worth $5,758,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Janney Montgomery Scott LLC bought a new stake in shares of Mobileye Global during the 1st quarter valued at $2,207,000. LPL Financial LLC boosted its stake in Mobileye Global by 27.5% in the 1st quarter. LPL Financial LLC now owns 188,698 shares of the company's stock worth $2,716,000 after purchasing an additional 40,724 shares in the last quarter. Raymond James Financial Inc. boosted its stake in Mobileye Global by 16.2% in the 1st quarter. Raymond James Financial Inc. now owns 803,852 shares of the company's stock worth $11,571,000 after purchasing an additional 111,785 shares in the last quarter. Primecap Management Co. CA boosted its stake in Mobileye Global by 9.0% in the 1st quarter. Primecap Management Co. CA now owns 1,966,200 shares of the company's stock worth $28,303,000 after purchasing an additional 161,800 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in Mobileye Global by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 1,779,189 shares of the company's stock worth $25,611,000 after purchasing an additional 63,261 shares in the last quarter. Institutional investors own 13.25% of the company's stock.

Insider Activity at Mobileye Global

In other news, major shareholder Corp Intel sold 63,731,985 shares of the company's stock in a transaction dated 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 completion of the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.80% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. The Goldman Sachs Group cut shares of Mobileye Global from a "buy" rating to a "neutral" rating and set a $17.00 price target on the stock. in a research note on Monday, June 9th. Barclays upped their price target on shares of Mobileye Global from $14.00 to $16.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. Royal Bank Of Canada upped their price target on shares of Mobileye Global from $14.00 to $17.00 and gave the stock a "sector perform" rating in a research note on Tuesday, July 29th. Wall Street Zen cut shares of Mobileye Global from a "buy" rating to a "hold" rating in a research note on Sunday, August 10th. Finally, Canaccord Genuity Group upped their target price 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. Nine research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $19.50.

Mobileye Global Stock Down 1.0%

MBLY traded down $0.15 during midday trading on Friday, hitting $14.70. 3,994,131 shares of the company traded hands, compared to its average volume of 3,770,589. The firm has a market capitalization of $11.98 billion, a PE ratio of -4.03, a price-to-earnings-growth ratio of 9.73 and a beta of 0.52. The company's 50-day moving average is $15.23 and its 200 day moving average is $15.24. Mobileye Global Inc. has a 52 week low of $10.48 and a 52 week 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, beating the consensus estimate of $0.11 by $0.02. Mobileye Global had a negative net margin of 153.91% and a positive return on equity of 0.73%. The firm had revenue of $506.00 million during the quarter, compared to analyst estimates of $466.42 million. During the same quarter in the prior year, the firm earned $0.09 EPS. The business's revenue for the quarter was up 15.3% compared to the same quarter last year. Mobileye Global has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that Mobileye Global Inc. will post 0.01 earnings per share for the current fiscal year.

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.