Mobileye Global Inc. (NASDAQ:MBLY) CEO Purchases $10,433,709.13 in Stock

Mobileye Global Inc. (NASDAQ:MBLY) CEO Amnon Shashua purchased 631,963 shares of Mobileye Global stock in a transaction that occurred on Friday, August 2nd. The shares were purchased at an average price of $16.51 per share, for a total transaction of $10,433,709.13. Following the transaction, the chief executive officer now directly owns 4,080,097 shares in the company, valued at approximately $67,362,401.47. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Mobileye Global Trading Down 4.9 %

Shares of NASDAQ MBLY traded down $0.78 during mid-day trading on Monday, reaching $15.18. The company had a trading volume of 6,245,953 shares, compared to its average volume of 4,413,248. Mobileye Global Inc. has a 52 week low of $14.33 and a 52 week high of $44.48. The business’s 50-day moving average is $25.91 and its 200-day moving average is $27.61. The stock has a market cap of $12.24 billion, a price-to-earnings ratio of -72.29, a price-to-earnings-growth ratio of 29.75 and a beta of 0.13.

Mobileye Global (NASDAQ:MBLY) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.08 by $0.01. The business had revenue of $439.00 million during the quarter, compared to analyst estimates of $424.34 million. Mobileye Global had a negative net margin of 12.14% and a positive return on equity of 1.32%. The company’s quarterly revenue was down 3.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.11 earnings per share. As a group, equities research analysts forecast that Mobileye Global Inc. will post 0.08 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on MBLY. Barclays dropped their price target on shares of Mobileye Global from $43.00 to $40.00 and set an “overweight” rating for the company in a research note on Tuesday, July 16th. The Goldman Sachs Group lowered their target price on shares of Mobileye Global from $32.00 to $24.00 and set a “buy” rating for the company in a research note on Friday. BNP Paribas downgraded shares of Mobileye Global from an “outperform” rating to a “neutral” rating and set a $17.00 target price for the company. in a research note on Monday. Citigroup lowered their target price on shares of Mobileye Global from $58.00 to $53.00 and set a “buy” rating for the company in a research note on Monday, April 29th. Finally, HSBC assumed coverage on shares of Mobileye Global in a research note on Monday, July 15th. They set a “buy” rating and a $33.00 target price for the company. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $33.58.

Hedge Funds Weigh In On Mobileye Global

Several hedge funds and other institutional investors have recently modified their holdings of MBLY. Norges Bank purchased a new position in shares of Mobileye Global in the 4th quarter valued at approximately $437,842,000. Baillie Gifford & Co. raised its position in Mobileye Global by 89.8% during the 1st quarter. Baillie Gifford & Co. now owns 15,985,212 shares of the company’s stock worth $513,925,000 after buying an additional 7,560,929 shares during the last quarter. Kodai Capital Management LP purchased a new position in Mobileye Global during the 4th quarter worth approximately $148,924,000. Wellington Management Group LLP raised its position in Mobileye Global by 200.3% during the 4th quarter. Wellington Management Group LLP now owns 3,398,211 shares of the company’s stock worth $147,210,000 after buying an additional 2,266,438 shares during the last quarter. Finally, Janus Henderson Group PLC purchased a new position in Mobileye Global during the 1st quarter worth approximately $69,638,000. 13.25% of the stock is owned by hedge funds and other institutional investors.

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.