Renaissance Capital LLC Sells 30,272 Shares of Mobileye Global Inc. (NASDAQ:MBLY)

Renaissance Capital LLC reduced its holdings in shares of Mobileye Global Inc. (NASDAQ:MBLY - Free Report) by 14.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 177,083 shares of the company's stock after selling 30,272 shares during the period. Mobileye Global accounts for approximately 2.0% of Renaissance Capital LLC's investment portfolio, making the stock its 20th biggest holding. Renaissance Capital LLC's holdings in Mobileye Global were worth $2,549,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. The Manufacturers Life Insurance Company lifted its position in shares of Mobileye Global by 4.6% during the 4th quarter. The Manufacturers Life Insurance Company now owns 14,211,880 shares of the company's stock worth $283,101,000 after buying an additional 621,062 shares in the last quarter. Norges Bank purchased a new stake in shares of Mobileye Global during the 4th quarter worth approximately $95,937,000. Primecap Management Co. CA increased its stake in shares of Mobileye Global by 2.3% during the 4th quarter. Primecap Management Co. CA now owns 1,804,400 shares of the company's stock worth $35,944,000 after purchasing an additional 40,000 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Mobileye Global by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 1,715,928 shares of the company's stock worth $34,181,000 after purchasing an additional 45,756 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Mobileye Global by 0.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,534,574 shares of the company's stock worth $30,569,000 after purchasing an additional 8,340 shares during the last quarter. Institutional investors own 13.25% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on MBLY shares. UBS Group cut their target price on shares of Mobileye Global from $17.00 to $14.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. The Goldman Sachs Group cut their price target on shares of Mobileye Global from $20.00 to $17.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. TD Cowen upped their price target on shares of Mobileye Global from $15.00 to $18.00 and gave the company a "buy" rating in a research report on Friday, April 25th. BNP Paribas upgraded shares of Mobileye Global from an "underperform" rating to a "neutral" rating and set a $11.00 price target for the company in a research report on Wednesday, April 23rd. Finally, Robert W. Baird increased their target price on shares of Mobileye Global from $17.00 to $18.00 and gave the stock an "outperform" rating in a report on Friday, April 25th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $18.63.

Insider Buying and Selling

In other Mobileye Global news, EVP Boaz Ouriel sold 67,493 shares of the 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 now owns 107,853 shares of the company's stock, valued at approximately $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 can be accessed through the SEC website. Corporate insiders own 2.80% of the company's stock.

Mobileye Global Price Performance

Shares of MBLY stock opened at $16.88 on Friday. The firm has a market cap of $13.71 billion, a P/E ratio of -4.42, a PEG ratio of 69.54 and a beta of 0.48. Mobileye Global Inc. has a 1-year low of $10.48 and a 1-year high of $33.26. The firm's 50-day simple moving average is $14.82 and its 200-day simple moving average is $16.20.

Mobileye Global (NASDAQ:MBLY - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The company reported $0.08 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.08. The business had revenue of $438.00 million during the quarter, compared to analyst estimates of $434.87 million. Mobileye Global had a negative net margin of 186.82% and a negative return on equity of 0.34%. The business's revenue was up 83.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.07) earnings per share. Analysts expect that Mobileye Global Inc. will post 0.01 earnings per share for the current fiscal year.

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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