Renaissance Capital LLC Lowers Position in Mobileye Global Inc. (NASDAQ:MBLY)

Renaissance Capital LLC reduced its stake in shares of Mobileye Global Inc. (NASDAQ:MBLY) by 14.6% during the first quarter, Holdings Channel reports. The institutional investor owned 177,083 shares of the company’s stock after selling 30,272 shares during the quarter. Mobileye Global comprises 2.0% of Renaissance Capital LLC’s portfolio, making the stock its 20th biggest holding. Renaissance Capital LLC’s holdings in Mobileye Global were worth $2,549,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of MBLY. Parkside Financial Bank & Trust raised its holdings in Mobileye Global by 147.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,237 shares of the company’s stock worth $25,000 after acquiring an additional 737 shares during the last quarter. Global Retirement Partners LLC lifted its stake in Mobileye Global by 136.9% in the 4th quarter. Global Retirement Partners LLC now owns 1,613 shares of the company’s stock worth $32,000 after purchasing an additional 932 shares in the last quarter. Rhumbline Advisers purchased a new stake in shares of Mobileye Global during the 1st quarter valued at about $27,000. Strategic Investment Solutions Inc. IL purchased a new stake in Mobileye Global in the 4th quarter worth about $40,000. Finally, Ancora Advisors LLC purchased a new stake in Mobileye Global in the 4th quarter worth about $40,000. 13.25% of the stock is owned by institutional investors.

Mobileye Global Trading Up 2.3%

MBLY stock opened at $16.88 on Friday. The stock has a market cap of $13.71 billion, a price-to-earnings ratio of -4.42, a PEG ratio of 69.54 and a beta of 0.48. The business’s 50-day moving average is $14.82 and its 200 day moving average is $16.20. Mobileye Global Inc. has a 12-month low of $10.48 and a 12-month high of $33.26.

Mobileye Global (NASDAQ:MBLY) last issued its earnings results on Thursday, April 24th. The company reported $0.08 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.08. Mobileye Global had a negative net margin of 186.82% and a negative return on equity of 0.34%. The company had revenue of $438.00 million during the quarter, compared to analysts’ expectations of $434.87 million. During the same period last year, the company posted ($0.07) earnings per share. The firm’s quarterly revenue was up 83.3% compared to the same quarter last year. As a group, equities analysts forecast that Mobileye Global Inc. will post 0.01 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Boaz Ouriel sold 67,493 shares of the company’s stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $16.09, for a total value of $1,085,962.37. Following the completion of the sale, the executive vice president now directly owns 107,853 shares of the company’s stock, valued at approximately $1,735,354.77. This represents a 38.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 2.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on MBLY shares. Mizuho lowered their target price on shares of Mobileye Global from $16.00 to $15.00 and set a “neutral” rating for the company in a research note on Friday, April 25th. Needham & Company LLC lowered their price objective on shares of Mobileye Global from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. UBS Group lowered their price objective on shares of Mobileye Global from $17.00 to $14.00 and set a “neutral” rating for the company in a research note on Thursday, April 10th. BNP Paribas upgraded shares of Mobileye Global from an “underperform” rating to a “neutral” rating and set a $11.00 price objective for the company in a research note on Wednesday, April 23rd. Finally, Robert W. Baird lifted their price objective on shares of Mobileye Global from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Friday, April 25th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $18.63.

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.