Mobileye Global Inc. $MBLY Shares Sold by Intellectus Partners LLC

Intellectus Partners LLC lessened its holdings in shares of Mobileye Global Inc. (NASDAQ:MBLY) by 26.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 141,090 shares of the company’s stock after selling 49,458 shares during the quarter. Intellectus Partners LLC’s holdings in Mobileye Global were worth $1,473,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Viawealth LLC purchased a new position in Mobileye Global during the fourth quarter worth about $118,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Mobileye Global by 45.9% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 8,694 shares of the company’s stock valued at $91,000 after acquiring an additional 2,737 shares during the last quarter. SBI Okasan Asset Management Co.Ltd. acquired a new position in Mobileye Global in the fourth quarter valued at approximately $1,043,000. Jupiter Asset Management Ltd. bought a new stake in Mobileye Global in the 4th quarter valued at about $3,392,000. Finally, Geode Capital Management LLC increased its stake in shares of Mobileye Global by 3.8% in the fourth quarter. Geode Capital Management LLC now owns 2,106,545 shares of the company’s stock valued at $21,999,000 after purchasing an additional 77,592 shares during the period. Hedge funds and other institutional investors own 13.25% of the company’s stock.

Mobileye Global Price Performance

Mobileye Global stock opened at $10.74 on Thursday. The company has a market cap of $9.04 billion, a P/E ratio of -2.13 and a beta of 1.15. Mobileye Global Inc. has a fifty-two week low of $6.47 and a fifty-two week high of $20.18. The firm’s 50 day simple moving average is $8.65 and its 200-day simple moving average is $9.51.

Mobileye Global (NASDAQ:MBLY) last posted its quarterly earnings data on Thursday, April 23rd. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.03. The firm had revenue of $558.00 million for the quarter, compared to analysts’ expectations of $519.34 million. Mobileye Global had a negative net margin of 203.97% and a positive return on equity of 0.33%. The company’s quarterly revenue was up 27.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.08 EPS. On average, analysts expect that Mobileye Global Inc. will post -0.07 EPS for the current fiscal year.

Mobileye Global announced that its Board of Directors has approved a share buyback program on Thursday, April 23rd that allows the company to buyback $250.00 million in shares. This buyback authorization allows the company to purchase up to 3.8% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on MBLY shares. UBS Group increased their price objective on Mobileye Global from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. Jefferies Financial Group assumed coverage on Mobileye Global in a research report on Monday, May 18th. They set an “underperform” rating and a $8.00 price target for the company. JPMorgan Chase & Co. reduced their price objective on shares of Mobileye Global from $11.00 to $9.00 and set a “neutral” rating for the company in a report on Thursday, April 16th. Zacks Research raised shares of Mobileye Global from a “strong sell” rating to a “hold” rating in a research note on Friday, March 27th. Finally, Canaccord Genuity Group reduced their price target on shares of Mobileye Global from $24.00 to $17.00 and set a “buy” rating for the company in a research note on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $13.77.

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.