Mobileye Global Inc. (NASDAQ:MBLY) Shares Sold by Picton Mahoney Asset Management

Picton Mahoney Asset Management reduced its stake in Mobileye Global Inc. (NASDAQ:MBLY) by 5.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 98,836 shares of the company’s stock after selling 5,386 shares during the quarter. Picton Mahoney Asset Management’s holdings in Mobileye Global were worth $4,281,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Ameriprise Financial Inc. boosted its position in shares of Mobileye Global by 4,749.0% during the third quarter. Ameriprise Financial Inc. now owns 1,115,030 shares of the company’s stock worth $46,329,000 after buying an additional 1,092,035 shares during the period. Victory Capital Management Inc. acquired a new position in Mobileye Global in the 3rd quarter valued at about $37,345,000. The Manufacturers Life Insurance Company purchased a new stake in Mobileye Global during the third quarter worth about $35,374,000. Wellington Management Group LLP lifted its position in shares of Mobileye Global by 168.3% during the third quarter. Wellington Management Group LLP now owns 1,131,773 shares of the company’s stock worth $47,025,000 after purchasing an additional 709,982 shares in the last quarter. Finally, Platinum Investment Management Ltd. boosted its stake in shares of Mobileye Global by 207.4% in the third quarter. Platinum Investment Management Ltd. now owns 998,827 shares of the company’s stock valued at $41,501,000 after purchasing an additional 673,906 shares during the period. Hedge funds and other institutional investors own 13.25% of the company’s stock.

Mobileye Global Stock Down 1.5 %

NASDAQ MBLY traded down $0.43 during trading on Wednesday, hitting $28.67. The company’s stock had a trading volume of 1,370,407 shares, compared to its average volume of 4,439,365. The firm has a 50 day moving average price of $29.84 and a 200 day moving average price of $33.01. The firm has a market cap of $23.11 billion, a P/E ratio of -138.57, a price-to-earnings-growth ratio of 19.69 and a beta of 0.12. Mobileye Global Inc. has a 52 week low of $23.49 and a 52 week high of $47.41.

Analysts Set New Price Targets

MBLY has been the topic of several recent research reports. Piper Sandler upped their target price on shares of Mobileye Global from $31.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday, April 26th. Robert W. Baird lowered their target price on Mobileye Global from $43.00 to $42.00 and set an “outperform” rating for the company in a research note on Friday, January 26th. Raymond James decreased their price objective on Mobileye Global from $48.00 to $40.00 in a research note on Monday, January 22nd. JPMorgan Chase & Co. upped their target price on shares of Mobileye Global from $34.00 to $38.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Finally, Morgan Stanley cut shares of Mobileye Global from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $26.00 to $25.00 in a report on Friday, April 26th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $40.39.

Insider Activity

In other news, Director Patrick P. Gelsinger acquired 2,000 shares of the stock in a transaction dated Monday, April 29th. The shares were acquired at an average cost of $27.53 per share, for a total transaction of $55,060.00. Following the completion of the transaction, the director now owns 131,095 shares in the company, valued at approximately $3,609,045.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Patrick P. Gelsinger purchased 1,611 shares of the stock in a transaction on Wednesday, May 1st. The shares were purchased at an average cost of $28.17 per share, for a total transaction of $45,381.87. Following the completion of the transaction, the director now directly owns 132,706 shares of the company’s stock, valued at approximately $3,738,328.02. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Patrick P. Gelsinger acquired 2,000 shares of Mobileye Global stock in a transaction on Monday, April 29th. The stock was acquired at an average cost of $27.53 per share, for a total transaction of $55,060.00. Following the purchase, the director now owns 131,095 shares of the company’s stock, valued at approximately $3,609,045.35. The disclosure for this purchase can be found here. 2.60% of the stock is currently owned by company insiders.

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.