Woodline Partners LP Purchases New Stake in Mobileye Global Inc. $MBLY

Key Points

• Woodline Partners LP acquired a new stake in Mobileye Global Inc., purchasing 327,259 shares valued at approximately $4.71 million in the first quarter.
• Mobileye's stock has recently seen price target increases from several analysts, with Canaccord Genuity raising theirs from $25.00 to $30.00, indicating strong growth expectations.
• Despite a positive quarterly earnings report, the company's stock price has decreased by 3.5%, with current trading at around $13.61.

Woodline Partners LP purchased a new stake in Mobileye Global Inc. (NASDAQ:MBLY - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 327,259 shares of the company's stock, valued at approximately $4,711,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Mystic Asset Management Inc. increased its holdings in shares of Mobileye Global by 3.6% in the first quarter. Mystic Asset Management Inc. now owns 20,175 shares of the company's stock valued at $290,000 after purchasing an additional 700 shares during the last quarter. Perigon Wealth Management LLC increased its holdings in shares of Mobileye Global by 4.6% in the first quarter. Perigon Wealth Management LLC now owns 20,892 shares of the company's stock valued at $301,000 after purchasing an additional 914 shares during the last quarter. Rhumbline Advisers acquired a new stake in shares of Mobileye Global in the first quarter valued at approximately $27,000. Retirement Planning Co of New England Inc. increased its holdings in shares of Mobileye Global by 18.3% in the first quarter. Retirement Planning Co of New England Inc. now owns 16,841 shares of the company's stock valued at $242,000 after purchasing an additional 2,600 shares during the last quarter. Finally, NewEdge Advisors LLC grew its position in Mobileye Global by 10.7% in the first quarter. NewEdge Advisors LLC now owns 31,228 shares of the company's stock worth $450,000 after acquiring an additional 3,019 shares during the period. Institutional investors and hedge funds own 13.25% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on MBLY shares. Royal Bank Of Canada increased their price objective on Mobileye Global from $14.00 to $17.00 and gave the stock a "sector perform" rating in a research report on Tuesday, July 29th. UBS Group increased their price objective on Mobileye Global from $15.00 to $18.00 and gave the stock a "neutral" rating in a research report on Monday, July 14th. Canaccord Genuity Group increased their price objective on Mobileye Global from $25.00 to $30.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Needham & Company LLC reiterated a "buy" rating and issued a $18.00 price objective on shares of Mobileye Global in a research report on Friday, July 25th. Finally, Mizuho lowered their price objective on Mobileye Global from $18.00 to $17.00 and set a "neutral" rating for the company in a research report on Friday, July 25th. Nine equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $19.59.

Insider Activity at Mobileye Global

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 stock was sold at an average price of $16.05, for a total transaction of $1,022,898,359.25. Following the completion of the transaction, the insider directly owned 50,000,000 shares in the company, valued at $802,500,000. This trade represents a 56.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.80% of the stock is currently owned by corporate insiders.

Mobileye Global Stock Down 3.5%

MBLY opened at $13.61 on Friday. Mobileye Global Inc. has a 52 week low of $10.50 and a 52 week high of $22.51. The business has a fifty day simple moving average of $14.80 and a 200-day simple moving average of $15.15. The firm has a market cap of $11.09 billion, a P/E ratio of -3.73, a P/E/G ratio of 8.87 and a beta of 0.52.

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, topping the consensus estimate of $0.11 by $0.02. Mobileye Global had a positive return on equity of 0.73% and a negative net margin of 153.91%.The business had revenue of $506.00 million during the quarter, compared to analyst estimates of $466.42 million. During the same period last year, the business posted $0.09 earnings per share. The company's quarterly revenue was up 15.3% on a year-over-year basis. Mobileye Global has set its FY 2025 guidance at EPS. Sell-side analysts expect that Mobileye Global Inc. will post 0.01 earnings per share for the current 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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