Renaissance Capital LLC Sells 81,881 Shares of Mobileye Global Inc. $MBLY

Key Points

• Renaissance Capital LLC reduced its stake in Mobileye Global Inc. by 46.2%, selling 81,881 shares, and now owns 95,202 shares valued at approximately $1.7 million.
• Major shareholder Corp Intel sold over 63 million shares for approximately $1.02 billion, resulting in a 56.04% decrease in their position.
• Analysts have varying views on Mobileye Global, with target prices ranging from $10.00 to $30.00 and a consensus rating of "Hold," reflecting mixed expectations for the stock's performance.

Renaissance Capital LLC cut its stake in shares of Mobileye Global Inc. (NASDAQ:MBLY - Free Report) by 46.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 95,202 shares of the company's stock after selling 81,881 shares during the quarter. Mobileye Global accounts for about 1.2% of Renaissance Capital LLC's holdings, making the stock its 21st biggest holding. Renaissance Capital LLC's holdings in Mobileye Global were worth $1,712,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Rhumbline Advisers bought a new stake in shares of Mobileye Global in the 1st quarter worth approximately $27,000. PNC Financial Services Group Inc. increased its stake in shares of Mobileye Global by 1,799.7% in the first quarter. PNC Financial Services Group Inc. now owns 5,851 shares of the company's stock worth $84,000 after buying an additional 5,543 shares during the period. Harel Insurance Investments & Financial Services Ltd. increased its stake in shares of Mobileye Global by 108.4% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 6,053 shares of the company's stock worth $87,000 after buying an additional 3,149 shares during the period. Kestra Private Wealth Services LLC purchased a new position in shares of Mobileye Global in the first quarter worth $158,000. Finally, Apollon Wealth Management LLC purchased a new position in shares of Mobileye Global in the first quarter worth $159,000. 13.25% of the stock is currently owned by institutional investors.

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.

Analyst Upgrades and Downgrades

MBLY has been the topic of several analyst reports. Barclays lifted their target price 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. Canaccord Genuity Group boosted their price objective on shares of Mobileye Global from $25.00 to $30.00 and gave the company a "buy" rating in a research report on Friday, July 25th. JPMorgan Chase & Co. boosted their price objective on shares of Mobileye Global from $10.00 to $12.00 and gave the company an "underweight" rating in a research report on Thursday, July 17th. UBS Group boosted their price objective on shares of Mobileye Global from $15.00 to $18.00 and gave the company a "neutral" rating in a research report on Monday, July 14th. Finally, Needham & Company LLC reissued a "buy" rating and set a $18.00 price objective on shares of Mobileye Global in a research report on Friday, July 25th. Nine research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $19.53.

Mobileye Global Price Performance

NASDAQ:MBLY opened at $14.14 on Tuesday. The company has a market capitalization of $11.53 billion, a PE ratio of -3.87, a P/E/G ratio of 8.71 and a beta of 0.52. The firm's 50-day moving average price is $14.23 and its 200-day moving average price is $15.07. Mobileye Global Inc. has a 1-year low of $11.12 and a 1-year high of $22.51.

Mobileye Global (NASDAQ:MBLY - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.11 by $0.02. The company 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%. Mobileye Global's revenue was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.09 EPS. Mobileye Global has set its FY 2025 guidance at EPS. Equities analysts anticipate that Mobileye Global Inc. will post 0.01 EPS for the current fiscal year.

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.

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