Trexquant Investment LP Sells 71,983 Shares of Mobileye Global Inc. $MBLY

Key Points

• Trexquant Investment LP has reduced its holdings in Mobileye Global Inc. by 51.3%, now owning 68,343 shares after selling 71,983 shares during the first quarter.
• Mobileye Global's quarterly earnings exceeded analysts' expectations, reporting a profit of $0.13 EPS against a forecast of $0.11, with revenues of $506 million surpassing the $466.42 million projected.
• Analysts have adjusted their price targets for Mobileye Global, with predictions ranging from $12.00 to $19.00, reflecting varying outlooks from "underweight" to "outperform" ratings.

Trexquant Investment LP lowered its position in Mobileye Global Inc. (NASDAQ:MBLY - Free Report) by 51.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 68,343 shares of the company's stock after selling 71,983 shares during the period. Trexquant Investment LP's holdings in Mobileye Global were worth $984,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in MBLY. Price T Rowe Associates Inc. MD increased its holdings in Mobileye Global by 61.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 35,802 shares of the company's stock worth $714,000 after buying an additional 13,600 shares during the last quarter. Graham Capital Management L.P. increased its holdings in Mobileye Global by 8.6% in the fourth quarter. Graham Capital Management L.P. now owns 93,805 shares of the company's stock worth $1,869,000 after buying an additional 7,441 shares during the last quarter. Hudson Bay Capital Management LP acquired a new position in Mobileye Global in the fourth quarter worth approximately $7,331,000. Light Street Capital Management LLC acquired a new position in Mobileye Global in the fourth quarter worth approximately $15,276,000. Finally, Needham Investment Management LLC acquired a new position in Mobileye Global in the fourth quarter worth approximately $996,000. Institutional investors and hedge funds own 13.25% of the company's stock.

Analyst Upgrades and Downgrades

MBLY has been the topic of several analyst reports. Royal Bank Of Canada increased their price target on Mobileye Global from $14.00 to $17.00 and gave the company a "sector perform" rating in a report on Tuesday, July 29th. Wells Fargo & Company increased their price target on Mobileye Global from $18.00 to $24.00 and gave the company an "overweight" rating in a report on Wednesday, July 9th. Barclays increased their price target on Mobileye Global from $14.00 to $16.00 and gave the company an "equal weight" rating in a report on Wednesday, July 16th. JPMorgan Chase & Co. increased their price target on Mobileye Global from $10.00 to $12.00 and gave the company an "underweight" rating in a report on Thursday, July 17th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $18.00 price target on shares of Mobileye Global in a report on Friday, July 25th. Nine equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Mobileye Global presently has an average rating of "Hold" and a consensus price target of $19.59.

Mobileye Global Price Performance

Shares of Mobileye Global stock traded down $0.50 during midday trading on Friday, hitting $13.61. The company had a trading volume of 5,582,344 shares, compared to its average volume of 3,778,047. The business's 50 day simple moving average is $14.80 and its two-hundred day simple moving average is $15.15. The stock has a market cap of $11.09 billion, a PE ratio of -3.73, a P/E/G ratio of 8.87 and a beta of 0.52. Mobileye Global Inc. has a 1-year low of $10.50 and a 1-year high of $22.51.

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 (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.02. The business had revenue of $506.00 million for the quarter, compared to the consensus estimate 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 quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter last year, the company posted $0.09 earnings per share. Mobileye Global has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that Mobileye Global Inc. will post 0.01 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Corp Intel sold 63,731,985 shares of the firm's stock in a transaction on Friday, July 11th. The shares were sold at an average price of $16.05, for a total value 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. This trade represents a 56.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.80% of the company's stock.

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.