Renaissance Capital LLC Lowers Holdings in Mobileye Global Inc. (NASDAQ:MBLY)

Renaissance Capital LLC cut its holdings in shares of Mobileye Global Inc. (NASDAQ:MBLY - Free Report) by 14.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 177,083 shares of the company's stock after selling 30,272 shares during the period. Mobileye Global makes up 2.0% of Renaissance Capital LLC's holdings, making the stock its 20th biggest holding. Renaissance Capital LLC's holdings in Mobileye Global were worth $2,549,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Parkside Financial Bank & Trust increased its position in shares of Mobileye Global by 147.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,237 shares of the company's stock worth $25,000 after acquiring an additional 737 shares in the last quarter. Global Retirement Partners LLC grew its holdings in Mobileye Global by 136.9% during the fourth quarter. Global Retirement Partners LLC now owns 1,613 shares of the company's stock worth $32,000 after buying an additional 932 shares in the last quarter. Rhumbline Advisers bought a new stake in Mobileye Global during the first quarter worth $27,000. Strategic Investment Solutions Inc. IL bought a new stake in Mobileye Global during the fourth quarter worth $40,000. Finally, Ancora Advisors LLC bought a new stake in Mobileye Global during the fourth quarter worth $40,000. 13.25% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MBLY has been the subject of several recent research reports. TD Cowen upped their price target on Mobileye Global from $15.00 to $18.00 and gave the stock a "buy" rating in a report on Friday, April 25th. Needham & Company LLC decreased their price target on Mobileye Global from $20.00 to $18.00 and set a "buy" rating for the company in a report on Thursday, April 24th. JPMorgan Chase & Co. decreased their price target on Mobileye Global from $11.00 to $10.00 and set an "underweight" rating for the company in a report on Thursday, April 17th. Mizuho decreased their price target on Mobileye Global from $16.00 to $15.00 and set a "neutral" rating for the company in a report on Friday, April 25th. Finally, BNP Paribas upgraded Mobileye Global from an "underperform" rating to a "neutral" rating and set a $11.00 price target for the company in a report on Wednesday, April 23rd. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $18.63.

Mobileye Global Trading Up 0.1%

Shares of MBLY stock traded up $0.01 on Tuesday, hitting $16.16. 3,672,897 shares of the stock were exchanged, compared to its average volume of 5,431,836. The firm has a market capitalization of $13.12 billion, a PE ratio of -4.23, a P/E/G ratio of 69.54 and a beta of 0.48. Mobileye Global Inc. has a one year low of $10.48 and a one year high of $32.23. The firm's 50 day moving average is $14.89 and its two-hundred day moving average is $16.18.

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

Insider Transactions at Mobileye Global

In related 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 transaction of $1,085,962.37. Following the sale, 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.80% 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.