Mobileye Global Inc. $MBLY Shares Sold by Engineers Gate Manager LP

Engineers Gate Manager LP reduced its position in Mobileye Global Inc. (NASDAQ:MBLY) by 23.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,624,153 shares of the company’s stock after selling 487,886 shares during the quarter. Engineers Gate Manager LP’s holdings in Mobileye Global were worth $15,722,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of MBLY. IFP Advisors Inc lifted its holdings in Mobileye Global by 465.7% during the 3rd quarter. IFP Advisors Inc now owns 1,816 shares of the company’s stock worth $26,000 after buying an additional 1,495 shares during the last quarter. Rhumbline Advisers acquired a new stake in shares of Mobileye Global during the 1st quarter valued at approximately $27,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Mobileye Global during the 2nd quarter valued at approximately $31,000. Leonteq Securities AG bought a new position in Mobileye Global during the fourth quarter worth $33,000. Finally, Bogart Wealth LLC boosted its holdings in Mobileye Global by 5,000.0% in the first quarter. Bogart Wealth LLC now owns 5,100 shares of the company’s stock worth $35,000 after purchasing an additional 5,000 shares during the period. Institutional investors own 13.25% of the company’s stock.

Insider Activity

In other news, Director Safroadu Yeboah-Amankwah bought 11,841 shares of Mobileye Global stock in a transaction on Thursday, August 6th. The stock was purchased at an average cost of $8.46 per share, with a total value of $100,174.86. Following the purchase, the director directly owned 84,336 shares of the company’s stock, valued at approximately $713,482.56. This trade represents a 16.33% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Frank Yeary bought 12,360 shares of Mobileye Global stock in a transaction on Thursday, July 30th. The shares were purchased at an average cost of $7.98 per share, with a total value of $98,632.80. Following the completion of the purchase, the director directly owned 12,360 shares in the company, valued at $98,632.80. This trade represents a ? increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 10.00% of the company’s stock.

Wall Street Analyst Weigh In

MBLY has been the subject of several recent research reports. Piper Sandler upgraded shares of Mobileye Global from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $10.00 to $12.00 in a research note on Monday, July 27th. Royal Bank Of Canada decreased their price target on shares of Mobileye Global from $10.00 to $7.00 and set a “sector perform” rating for the company in a report on Friday, July 24th. Berenberg Bank raised shares of Mobileye Global from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a research report on Monday, August 17th. Jefferies Financial Group started coverage on shares of Mobileye Global in a research note on Monday, May 18th. They set an “underperform” rating and a $8.00 price objective on the stock. Finally, Needham & Company LLC reissued a “buy” rating and issued a $13.00 target price on shares of Mobileye Global in a report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $12.16.

Mobileye Global Price Performance

Shares of NASDAQ MBLY opened at $8.10 on Thursday. The firm has a market capitalization of $6.80 billion, a PE ratio of -1.62, a P/E/G ratio of 2.80 and a beta of 1.22. Mobileye Global Inc. has a 1-year low of $6.47 and a 1-year high of $15.81. The business’s fifty day moving average price is $8.78 and its two-hundred day moving average price is $8.66.

Mobileye Global (NASDAQ:MBLY) last announced its quarterly earnings results on Thursday, July 23rd. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.13. The company had revenue of $508.00 million during the quarter, compared to the consensus estimate of $480.51 million. Mobileye Global had a negative net margin of 201.49% and a positive return on equity of 0.70%. The company’s revenue for the quarter was up .4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.08) earnings per share. Equities research analysts expect that Mobileye Global Inc. will post 0.11 earnings per share for the current fiscal year.

About Mobileye Global

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.