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

Mobileye Global Inc. (NASDAQ:MBLY) CEO Amnon Shashua bought 631,963 shares of the stock in a transaction on Friday, August 2nd. The stock was purchased at an average price of $16.51 per share, with a total value of $10,433,709.13. Following the completion of the acquisition, the chief executive officer now directly owns 4,080,097 shares in the company, valued at approximately $67,362,401.47. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Mobileye Global Trading Down 3.9 %

Shares of MBLY stock opened at $15.00 on Thursday. Mobileye Global Inc. has a 12-month low of $14.33 and a 12-month high of $44.48. The business’s 50 day moving average is $25.26 and its two-hundred day moving average is $27.34. The company has a market capitalization of $12.09 billion, a P/E ratio of -71.43, a P/E/G ratio of 29.75 and a beta of 0.13.

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

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Westpark Capital reaffirmed a “hold” rating on shares of Mobileye Global in a research report on Wednesday, July 31st. Daiwa America downgraded Mobileye Global from a “strong-buy” rating to a “hold” rating in a research report on Monday. Hsbc Global Res raised shares of Mobileye Global to a “strong-buy” rating in a research report on Monday, July 15th. Morgan Stanley upgraded shares of Mobileye Global from an “underweight” rating to an “equal weight” rating and lowered their price target for the company from $25.00 to $18.00 in a report on Friday, August 2nd. Finally, Needham & Company LLC decreased their target price on shares of Mobileye Global from $36.00 to $25.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Mobileye Global presently has an average rating of “Moderate Buy” and an average target price of $32.89.

Institutional Trading of Mobileye Global

A number of institutional investors and hedge funds have recently modified their holdings of MBLY. TD Asset Management Inc lifted its stake in Mobileye Global by 59.2% in the 4th quarter. TD Asset Management Inc now owns 140,083 shares of the company’s stock valued at $6,068,000 after buying an additional 52,088 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp purchased a new position in shares of Mobileye Global in the first quarter valued at approximately $1,294,000. Pinebridge Investments L.P. boosted its stake in shares of Mobileye Global by 70.4% in the fourth quarter. Pinebridge Investments L.P. now owns 243,265 shares of the company’s stock worth $10,537,000 after acquiring an additional 100,494 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Mobileye Global by 15.2% during the fourth quarter. Wells Fargo & Company MN now owns 263,855 shares of the company’s stock worth $11,430,000 after purchasing an additional 34,763 shares in the last quarter. Finally, Assetmark Inc. raised its stake in Mobileye Global by 2.2% in the 4th quarter. Assetmark Inc. now owns 108,331 shares of the company’s stock valued at $4,693,000 after purchasing an additional 2,346 shares during the last quarter. Hedge funds and other institutional investors own 13.25% of the company’s stock.

About Mobileye Global

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.