Mobileye Global Inc. (NASDAQ:MBLY) Shares Sold by Truist Financial Corp

Truist Financial Corp cut its stake in Mobileye Global Inc. (NASDAQ:MBLY) by 19.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,051 shares of the company’s stock after selling 9,584 shares during the period. Truist Financial Corp’s holdings in Mobileye Global were worth $1,125,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in MBLY. Register Financial Advisors LLC acquired a new stake in Mobileye Global in the first quarter valued at $32,000. Newbridge Financial Services Group Inc. acquired a new stake in Mobileye Global in the fourth quarter valued at $77,000. Cranbrook Wealth Management LLC acquired a new stake in Mobileye Global in the second quarter valued at $84,000. Natixis Investment Managers International acquired a new stake in Mobileye Global in the first quarter valued at $99,000. Finally, EverSource Wealth Advisors LLC raised its holdings in Mobileye Global by 1,019.9% in the second quarter. EverSource Wealth Advisors LLC now owns 3,819 shares of the company’s stock valued at $107,000 after acquiring an additional 3,478 shares in the last quarter. 13.25% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Mobileye Global

In related news, Director Patrick P. Gelsinger purchased 6,400 shares of Mobileye Global stock in a transaction dated Monday, August 5th. The stock was acquired at an average cost of $15.48 per share, with a total value of $99,072.00. Following the completion of the transaction, the director now directly owns 139,106 shares of the company’s stock, valued at $2,153,360.88. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Patrick P. Gelsinger acquired 6,400 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average price of $15.48 per share, for a total transaction of $99,072.00. Following the completion of the acquisition, the director now owns 139,106 shares of the company’s stock, valued at approximately $2,153,360.88. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Amnon Shashua acquired 631,963 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was purchased at an average price of $16.51 per share, for a total transaction of $10,433,709.13. Following the acquisition, the chief executive officer now directly owns 4,080,097 shares of the company’s stock, valued at $67,362,401.47. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 1.80% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on MBLY. Daiwa Capital Markets cut shares of Mobileye Global from a “buy” rating to a “neutral” rating in a report on Monday, August 5th. HSBC began coverage on shares of Mobileye Global in a report on Monday, July 15th. They set a “buy” rating and a $33.00 target price on the stock. Wolfe Research cut shares of Mobileye Global from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 5th. Daiwa America cut shares of Mobileye Global from a “strong-buy” rating to a “hold” rating in a report on Monday, August 5th. Finally, JPMorgan Chase & Co. reissued an “underweight” rating and set a $10.00 target price (down from $16.00) on shares of Mobileye Global in a report on Monday, October 7th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $26.85.

Mobileye Global Trading Up 4.9 %

MBLY stock opened at $12.89 on Monday. Mobileye Global Inc. has a one year low of $10.48 and a one year high of $44.48. The firm has a market capitalization of $10.43 billion, a PE ratio of -61.38 and a beta of 0.08. The firm has a 50-day moving average of $13.35 and a two-hundred day moving average of $22.66.

Mobileye Global (NASDAQ:MBLY) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. The business had revenue of $439.00 million during the quarter, compared to analyst estimates of $424.34 million. Mobileye Global had a negative net margin of 12.14% and a positive return on equity of 1.32%. The firm’s revenue was down 3.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.11 earnings per share. On average, equities research analysts anticipate that Mobileye Global Inc. will post -0.06 earnings per share for the current year.

Mobileye Global Profile

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.