Healthcare of Ontario Pension Plan Trust Fund decreased its position in Mobileye Global Inc. (NASDAQ:MBLY – Free Report) by 71.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 254,500 shares of the company’s stock after selling 645,500 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Mobileye Global were worth $1,748,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of MBLY. IFP Advisors Inc boosted its holdings in shares of Mobileye Global by 465.7% during the third quarter. IFP Advisors Inc now owns 1,816 shares of the company’s stock worth $26,000 after purchasing an additional 1,495 shares during the period. Rhumbline Advisers purchased a new position in Mobileye Global during the 1st quarter valued at about $27,000. Northwestern Mutual Wealth Management Co. purchased a new position in Mobileye Global during the 2nd quarter valued at about $31,000. Financial Management Professionals Inc. bought a new position in Mobileye Global during the 4th quarter valued at approximately $32,000. Finally, Leonteq Securities AG bought a new position in Mobileye Global during the 4th quarter valued at approximately $33,000. 13.25% of the stock is owned by institutional investors.
Mobileye Global Price Performance
Shares of MBLY opened at $7.94 on Friday. The company has a 50-day simple moving average of $9.19 and a two-hundred day simple moving average of $8.88. The firm has a market capitalization of $6.67 billion, a PE ratio of -1.59, a price-to-earnings-growth ratio of 2.69 and a beta of 1.16. Mobileye Global Inc. has a one year low of $6.47 and a one year high of $15.81.
Mobileye Global declared that its Board of Directors has approved a stock repurchase plan on Thursday, April 23rd that permits the company to buyback $250.00 million in shares. This buyback authorization permits the company to reacquire up to 3.8% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its stock is undervalued.
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on MBLY shares. JPMorgan Chase & Co. cut their price objective on Mobileye Global from $10.00 to $9.00 and set a “neutral” rating on the stock in a research report on Friday, July 24th. Needham & Company LLC restated a “buy” rating and set a $13.00 target price on shares of Mobileye Global in a report on Friday, July 24th. Zacks Research raised Mobileye Global from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 20th. Canaccord Genuity Group cut their price target on shares of Mobileye Global from $17.00 to $12.00 and set a “buy” rating on the stock in a report on Friday, July 24th. Finally, Berenberg Bank cut shares of Mobileye Global from a “buy” rating to a “hold” rating and set a $10.80 price target on the stock. in a report on Thursday, May 21st. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $12.64.
Read Our Latest Report on Mobileye Global
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.
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