Jennison Associates LLC Sells 1,187,917 Shares of Mobileye Global Inc. (NASDAQ:MBLY)

Jennison Associates LLC lessened its holdings in Mobileye Global Inc. (NASDAQ:MBLY - Free Report) by 7.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,011,315 shares of the company's stock after selling 1,187,917 shares during the period. Jennison Associates LLC owned approximately 1.74% of Mobileye Global worth $606,970,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Venturi Wealth Management LLC raised its position in Mobileye Global by 33.3% in the third quarter. Venturi Wealth Management LLC now owns 1,200 shares of the company's stock worth $50,000 after purchasing an additional 300 shares in the last quarter. Wealth Management Partners LLC increased its holdings in shares of Mobileye Global by 3.1% during the third quarter. Wealth Management Partners LLC now owns 11,723 shares of the company's stock worth $487,000 after buying an additional 350 shares in the last quarter. Capital Investment Advisory Services LLC increased its holdings in shares of Mobileye Global by 2.8% during the fourth quarter. Capital Investment Advisory Services LLC now owns 14,700 shares of the company's stock worth $637,000 after buying an additional 400 shares in the last quarter. CWM LLC acquired a new stake in shares of Mobileye Global during the third quarter worth approximately $25,000. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Mobileye Global by 52.9% during the third quarter. PNC Financial Services Group Inc. now owns 2,266 shares of the company's stock worth $94,000 after buying an additional 784 shares in the last quarter. Institutional investors and hedge funds own 13.25% of the company's stock.

Insider Transactions at Mobileye Global

In related news, Director Patrick P. Gelsinger acquired 3,600 shares of the company's stock in a transaction that occurred on Monday, January 29th. The shares were acquired at an average cost of $27.75 per share, for a total transaction of $99,900.00. Following the completion of the acquisition, the director now directly owns 129,095 shares in the company, valued at approximately $3,582,386.25. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.60% of the company's stock.

Mobileye Global Price Performance

Shares of NASDAQ MBLY traded down $0.11 during midday trading on Monday, reaching $30.12. 1,658,409 shares of the stock were exchanged, compared to its average volume of 4,638,548. The business has a 50-day simple moving average of $28.88 and a two-hundred day simple moving average of $33.58. The company has a market capitalization of $24.28 billion, a price-to-earnings ratio of -752.81, a P/E/G ratio of 14.05 and a beta of -0.22. Mobileye Global Inc. has a 12 month low of $23.49 and a 12 month high of $47.41.

Mobileye Global (NASDAQ:MBLY - Get Free Report) last announced its quarterly earnings results on Thursday, January 25th. The company reported $0.28 earnings per share for the quarter, topping analysts' consensus estimates of $0.27 by $0.01. The company had revenue of $637.00 million for the quarter, compared to analysts' expectations of $637.53 million. Mobileye Global had a negative net margin of 1.30% and a positive return on equity of 2.91%. The business's quarterly revenue was up 12.7% compared to the same quarter last year. During the same period last year, the firm posted $0.27 earnings per share. Equities research analysts expect that Mobileye Global Inc. will post 0.14 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on MBLY shares. Robert W. Baird dropped their price objective on shares of Mobileye Global from $43.00 to $42.00 and set an "outperform" rating for the company in a report on Friday, January 26th. Needham & Company LLC dropped their price objective on shares of Mobileye Global from $43.00 to $36.00 and set a "buy" rating for the company in a report on Friday, January 5th. Barclays dropped their price objective on shares of Mobileye Global from $46.00 to $43.00 and set an "overweight" rating for the company in a report on Friday, January 26th. TD Cowen decreased their price target on shares of Mobileye Global from $38.00 to $35.00 and set an "outperform" rating on the stock in a research note on Friday, January 26th. Finally, Royal Bank of Canada decreased their price target on shares of Mobileye Global from $45.00 to $39.00 and set an "outperform" rating on the stock in a research note on Friday, January 26th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and fifteen have issued a buy rating to the company's stock. According to MarketBeat, Mobileye Global presently has an average rating of "Moderate Buy" and an average target price of $43.62.

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.