Erste Asset Management GmbH Sells 100,463 Shares of Mobileye Global Inc. $MBLY

Erste Asset Management GmbH lowered its stake in Mobileye Global Inc. (NASDAQ:MBLY) by 38.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 158,706 shares of the company’s stock after selling 100,463 shares during the period. Erste Asset Management GmbH’s holdings in Mobileye Global were worth $1,689,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Burkehill Global Management LP bought a new stake in shares of Mobileye Global during the third quarter worth approximately $42,360,000. DNB Asset Management AS bought a new position in shares of Mobileye Global during the third quarter worth approximately $40,212,000. Two Sigma Investments LP increased its stake in shares of Mobileye Global by 131.9% during the third quarter. Two Sigma Investments LP now owns 4,383,735 shares of the company’s stock worth $61,898,000 after purchasing an additional 2,493,181 shares during the period. BNP Paribas Financial Markets lifted its holdings in Mobileye Global by 436.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,489,803 shares of the company’s stock worth $35,156,000 after purchasing an additional 2,025,257 shares during the last quarter. Finally, Electron Capital Partners LLC bought a new stake in Mobileye Global in the 3rd quarter valued at $18,050,000. 13.25% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on the company. Jefferies Financial Group assumed coverage on Mobileye Global in a report on Monday, May 18th. They issued an “underperform” rating and a $8.00 price objective on the stock. JPMorgan Chase & Co. reduced their target price on shares of Mobileye Global from $11.00 to $9.00 and set a “neutral” rating for the company in a research report on Thursday, April 16th. TD Cowen upped their price target on shares of Mobileye Global from $8.50 to $10.00 and gave the company a “buy” rating in a research note on Friday, April 24th. Canaccord Genuity Group lowered their price target on shares of Mobileye Global from $24.00 to $17.00 and set a “buy” rating on the stock in a research report on Friday, April 24th. Finally, Zacks Research upgraded shares of Mobileye Global from a “strong sell” rating to a “hold” rating in a research note on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $13.77.

Mobileye Global Stock Performance

Shares of NASDAQ MBLY opened at $9.14 on Thursday. The stock has a market capitalization of $7.69 billion, a P/E ratio of -1.81 and a beta of 1.15. The stock’s fifty day moving average is $8.93 and its 200 day moving average is $9.44. Mobileye Global Inc. has a 52 week low of $6.47 and a 52 week high of $20.18.

Mobileye Global (NASDAQ:MBLY) last posted its quarterly earnings data on Thursday, April 23rd. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.03. The business had revenue of $558.00 million during the quarter, compared to analysts’ expectations of $519.34 million. Mobileye Global had a negative net margin of 203.97% and a positive return on equity of 0.33%. Mobileye Global’s revenue was up 27.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.08 earnings per share. Equities research analysts forecast that Mobileye Global Inc. will post -0.07 earnings per share for the current year.

Mobileye Global declared that its Board of Directors has initiated a share repurchase plan on Thursday, April 23rd that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 3.8% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Mobileye Global Profile

Mobileye Global Inc (NASDAQ: MBLY) is a leader in the development of advanced driver-assistance systems (ADAS) and autonomous driving technologies. Headquartered in Jerusalem, Israel, the company designs and supplies computer vision-based solutions that enable vehicles to detect and respond to road conditions, obstacles and signage. Mobileye’s core offering centers on its proprietary EyeQ system-on-a-chip (SoC) family, which processes video streams from automotive cameras to deliver features such as lane-keeping assist, adaptive cruise control, collision prevention and traffic sign recognition.

Founded in 1999 by Prof.