Mobileye Global Inc. $MBLY Shares Purchased by ARK Investment Management LLC

ARK Investment Management LLC lifted its stake in Mobileye Global Inc. (NASDAQ:MBLY) by 18.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 137,053 shares of the company’s stock after acquiring an additional 21,066 shares during the period. ARK Investment Management LLC’s holdings in Mobileye Global were worth $2,464,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Rhumbline Advisers acquired a new stake in shares of Mobileye Global in the 1st quarter worth approximately $27,000. PNC Financial Services Group Inc. lifted its stake in Mobileye Global by 1,799.7% during the first quarter. PNC Financial Services Group Inc. now owns 5,851 shares of the company’s stock valued at $84,000 after purchasing an additional 5,543 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its holdings in shares of Mobileye Global by 108.4% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 6,053 shares of the company’s stock valued at $87,000 after acquiring an additional 3,149 shares during the period. Kestra Private Wealth Services LLC acquired a new stake in shares of Mobileye Global during the first quarter valued at approximately $158,000. Finally, Apollon Wealth Management LLC acquired a new stake in shares of Mobileye Global during the first quarter valued at approximately $159,000. 13.25% of the stock is owned by institutional investors and hedge funds.

Mobileye Global Price Performance

MBLY stock opened at $14.31 on Thursday. Mobileye Global Inc. has a 52-week low of $11.58 and a 52-week high of $22.51. The company has a 50-day moving average of $14.35 and a two-hundred day moving average of $15.06. The stock has a market capitalization of $11.66 billion, a price-to-earnings ratio of -3.92, a price-to-earnings-growth ratio of 9.21 and a beta of 0.52.

Mobileye Global (NASDAQ:MBLY) last released its quarterly earnings results on Thursday, July 24th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. Mobileye Global had a negative net margin of 153.91% and a positive return on equity of 0.73%. The company had revenue of $506.00 million during the quarter, compared to analysts’ expectations of $466.42 million. During the same period in the prior year, the company earned $0.09 earnings per share. The business’s quarterly revenue was up 15.3% compared to the same quarter last year. Equities analysts expect that Mobileye Global Inc. will post 0.01 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on MBLY. JPMorgan Chase & Co. boosted their price target on shares of Mobileye Global from $10.00 to $12.00 and gave the company an “underweight” rating in a report on Thursday, July 17th. TD Cowen cut their price target on shares of Mobileye Global from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Friday, July 25th. Deutsche Bank Aktiengesellschaft upgraded shares of Mobileye Global from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a research note on Monday, October 6th. Canaccord Genuity Group upped their price objective on shares of Mobileye Global from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Finally, Zacks Research upgraded shares of Mobileye Global from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $18.94.

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.