Erste Asset Management GmbH Sells 100,463 Shares of Mobileye Global Inc. $MBLY

Erste Asset Management GmbH lessened its holdings in Mobileye Global Inc. (NASDAQ:MBLY) by 38.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 158,706 shares of the company’s stock after selling 100,463 shares during the period. Erste Asset Management GmbH’s holdings in Mobileye Global were worth $1,689,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Burkehill Global Management LP bought a new position in shares of Mobileye Global in the third quarter worth about $42,360,000. DNB Asset Management AS acquired a new stake in shares of Mobileye Global in the 3rd quarter valued at approximately $40,212,000. Two Sigma Investments LP grew its holdings in shares of Mobileye Global by 131.9% during the 3rd quarter. Two Sigma Investments LP now owns 4,383,735 shares of the company’s stock valued at $61,898,000 after purchasing an additional 2,493,181 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Mobileye Global by 436.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,489,803 shares of the company’s stock valued at $35,156,000 after purchasing an additional 2,025,257 shares during the last quarter. Finally, Electron Capital Partners LLC acquired a new position in Mobileye Global during the 3rd quarter worth approximately $18,050,000. Institutional investors and hedge funds own 13.25% of the company’s stock.

Mobileye Global Stock Performance

MBLY stock opened at $9.14 on Thursday. The company has a market capitalization of $7.69 billion, a P/E ratio of -1.81 and a beta of 1.15. The company has a fifty day moving average price of $8.93 and a 200-day moving average price of $9.44. Mobileye Global Inc. has a 52-week low of $6.47 and a 52-week high of $20.18.

Mobileye Global (NASDAQ:MBLY) last issued 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 company 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%. Mobileye Global’s revenue for the quarter was up 27.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.08 earnings per share. As a group, sell-side analysts forecast that Mobileye Global Inc. will post -0.07 earnings per share for the current fiscal year.

Mobileye Global announced that its Board of Directors has authorized a stock repurchase plan on Thursday, April 23rd that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the company to buy up to 3.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

Several equities analysts recently commented on MBLY shares. Berenberg Bank downgraded shares of Mobileye Global from a “buy” rating to a “hold” rating and set a $10.80 price objective for the company. in a research note on Thursday, May 21st. Wall Street Zen raised shares of Mobileye Global from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. Canaccord Genuity Group lowered their price target on shares of Mobileye Global from $24.00 to $17.00 and set a “buy” rating for the company in a report on Friday, April 24th. Zacks Research upgraded Mobileye Global from a “strong sell” rating to a “hold” rating in a research note on Friday, March 27th. Finally, TD Cowen raised their price objective on Mobileye Global from $8.50 to $10.00 and gave the company a “buy” rating in a report on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Mobileye Global presently has a consensus 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.