Handelsbanken Fonder AB Raises Position in Mobileye Global Inc. (NASDAQ:MBLY)

Handelsbanken Fonder AB lifted its position in Mobileye Global Inc. (NASDAQ:MBLY) by 219.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 46,605 shares of the company’s stock after acquiring an additional 32,037 shares during the period. Handelsbanken Fonder AB’s holdings in Mobileye Global were worth $2,019,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. DAVENPORT & Co LLC increased its position in shares of Mobileye Global by 2.0% in the 4th quarter. DAVENPORT & Co LLC now owns 1,956,339 shares of the company’s stock valued at $85,109,000 after acquiring an additional 38,667 shares during the period. Bank of New York Mellon Corp increased its position in shares of Mobileye Global by 25.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,885,263 shares of the company’s stock valued at $78,333,000 after acquiring an additional 388,109 shares during the period. DekaBank Deutsche Girozentrale increased its position in shares of Mobileye Global by 5.4% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 1,392,387 shares of the company’s stock valued at $61,042,000 after acquiring an additional 71,000 shares during the period. Wellington Management Group LLP increased its position in shares of Mobileye Global by 168.3% in the 3rd quarter. Wellington Management Group LLP now owns 1,131,773 shares of the company’s stock valued at $47,025,000 after acquiring an additional 709,982 shares during the period. Finally, Ameriprise Financial Inc. increased its position in shares of Mobileye Global by 4,749.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,115,030 shares of the company’s stock valued at $46,329,000 after acquiring an additional 1,092,035 shares during the period. 13.25% of the stock is owned by institutional investors and hedge funds.

Mobileye Global Stock Down 5.5 %

Shares of Mobileye Global stock opened at $29.20 on Friday. Mobileye Global Inc. has a twelve month low of $23.49 and a twelve month high of $47.41. The firm’s 50-day moving average price is $29.23 and its 200 day moving average price is $33.40.

Mobileye Global (NASDAQ:MBLY) last issued its quarterly earnings results on Thursday, January 25th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. The firm had revenue of $637.00 million for the quarter, compared to analyst estimates of $637.53 million. Mobileye Global had a negative net margin of 8.92% and a positive return on equity of 1.75%. Mobileye Global’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period last year, the company posted $0.27 EPS. As a group, analysts anticipate that Mobileye Global Inc. will post 0.14 earnings per share for the current year.

Insider Activity at Mobileye Global

In related news, Director Patrick P. Gelsinger purchased 3,600 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were purchased at an average cost of $27.75 per share, with a total value of $99,900.00. Following the purchase, the director now owns 129,095 shares of the company’s stock, valued at approximately $3,582,386.25. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on MBLY shares. Canaccord Genuity Group upped their target price on Mobileye Global from $31.00 to $37.00 and gave the company a “buy” rating in a research report on Friday. Robert W. Baird cut their price target on Mobileye Global from $43.00 to $42.00 and set an “outperform” rating on the stock in a research report on Friday, January 26th. TD Cowen increased their price target on Mobileye Global from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Friday. Morgan Stanley downgraded Mobileye Global from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $26.00 to $25.00 in a research report on Friday. Finally, Barclays cut their price target on Mobileye Global from $46.00 to $43.00 and set an “overweight” rating on the stock in a research report on Friday, January 26th. Three analysts have rated the stock with a sell rating, one has given a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Mobileye Global has an average rating of “Moderate Buy” and an average price target of $41.70.

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.