Jain Global LLC Buys 599,783 Shares of Mobileye Global Inc. $MBLY

Jain Global LLC grew its position in shares of Mobileye Global Inc. (NASDAQ:MBLY) by 2,353.7% during the third quarter, Holdings Channel reports. The fund owned 625,266 shares of the company’s stock after purchasing an additional 599,783 shares during the period. Jain Global LLC’s holdings in Mobileye Global were worth $8,829,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. MAI Capital Management grew its stake in Mobileye Global by 22.2% in the third quarter. MAI Capital Management now owns 4,400 shares of the company’s stock worth $62,000 after purchasing an additional 800 shares during the period. Sei Investments Co. lifted its position in Mobileye Global by 2.5% during the second quarter. Sei Investments Co. now owns 45,080 shares of the company’s stock valued at $811,000 after buying an additional 1,090 shares during the period. Cresset Asset Management LLC boosted its holdings in shares of Mobileye Global by 6.3% during the 3rd quarter. Cresset Asset Management LLC now owns 18,819 shares of the company’s stock valued at $266,000 after buying an additional 1,110 shares in the last quarter. Country Club Bank grew its position in shares of Mobileye Global by 0.8% in the 3rd quarter. Country Club Bank now owns 144,803 shares of the company’s stock worth $2,048,000 after buying an additional 1,188 shares during the period. Finally, Perigon Wealth Management LLC grew its position in shares of Mobileye Global by 5.7% in the 3rd quarter. Perigon Wealth Management LLC now owns 22,164 shares of the company’s stock worth $313,000 after buying an additional 1,205 shares during the period. Institutional investors own 13.25% of the company’s stock.

Analysts Set New Price Targets

MBLY has been the subject of a number of recent research reports. The Goldman Sachs Group lowered their price target on shares of Mobileye Global from $16.00 to $13.00 and set a “neutral” rating for the company in a research report on Wednesday, November 26th. Piper Sandler cut their target price on Mobileye Global from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note on Thursday, January 8th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Mobileye Global in a report on Wednesday, January 28th. UBS Group reduced their price objective on Mobileye Global from $13.00 to $12.00 and set a “neutral” rating for the company in a research report on Friday, January 23rd. Finally, Barclays raised Mobileye Global from an “equal weight” rating to an “overweight” rating and decreased their price objective for the stock from $17.00 to $16.00 in a research note on Monday, January 5th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $15.89.

Mobileye Global Stock Performance

Shares of NASDAQ:MBLY opened at $7.94 on Tuesday. The firm has a market cap of $6.68 billion, a PE ratio of -16.20 and a beta of 0.59. Mobileye Global Inc. has a one year low of $7.54 and a one year high of $20.18. The firm’s 50 day simple moving average is $9.39 and its 200-day simple moving average is $11.62.

Mobileye Global (NASDAQ:MBLY) last released its quarterly earnings data on Thursday, January 22nd. The company reported $0.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.06. Mobileye Global had a negative net margin of 20.70% and a positive return on equity of 0.21%. The company had revenue of $446.00 million during the quarter, compared to analyst estimates of $430.69 million. During the same period in the prior year, the firm earned $0.13 earnings per share. The firm’s revenue for the quarter was down 9.0% compared to the same quarter last year. Equities research analysts predict that Mobileye Global Inc. will post 0.01 EPS for the current fiscal year.

Mobileye Global Company Profile

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.