Bank of New York Mellon Corp Cuts Holdings in Mobileye Global Inc. (NASDAQ:MBLY)

Bank of New York Mellon Corp lessened its stake in Mobileye Global Inc. (NASDAQ:MBLY) by 41.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,813 shares of the company’s stock after selling 55,501 shares during the period. Bank of New York Mellon Corp’s holdings in Mobileye Global were worth $1,530,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its stake in Mobileye Global by 168.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,526,234 shares of the company’s stock worth $20,909,000 after buying an additional 957,565 shares in the last quarter. Geode Capital Management LLC grew its stake in Mobileye Global by 24.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,431,325 shares of the company’s stock worth $19,615,000 after buying an additional 279,082 shares in the last quarter. Paloma Partners Management Co purchased a new stake in shares of Mobileye Global in the 3rd quarter valued at $2,598,000. Versant Capital Management Inc boosted its stake in shares of Mobileye Global by 580.0% in the 4th quarter. Versant Capital Management Inc now owns 1,326 shares of the company’s stock valued at $26,000 after purchasing an additional 1,131 shares in the last quarter. Finally, Handelsbanken Fonder AB purchased a new stake in shares of Mobileye Global in the 4th quarter valued at $442,000. Hedge funds and other institutional investors own 13.25% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on MBLY shares. Oppenheimer started coverage on shares of Mobileye Global in a research note on Wednesday, January 15th. They issued an “outperform” rating and a $28.00 price objective for the company. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $11.00 price objective on shares of Mobileye Global in a research note on Thursday, December 5th. UBS Group upped their price objective on shares of Mobileye Global from $14.00 to $17.00 and gave the company a “neutral” rating in a research note on Thursday, January 16th. Bank of America raised shares of Mobileye Global from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $12.00 to $19.00 in a research note on Monday, February 10th. Finally, The Goldman Sachs Group upped their price objective on shares of Mobileye Global from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, February 24th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $22.24.

Mobileye Global Trading Up 2.2 %

Shares of NASDAQ MBLY opened at $14.56 on Friday. Mobileye Global Inc. has a 12 month low of $10.48 and a 12 month high of $34.00. The firm has a market capitalization of $11.81 billion, a PE ratio of -3.81, a price-to-earnings-growth ratio of 69.54 and a beta of 0.29. The firm has a fifty day simple moving average of $16.11 and a two-hundred day simple moving average of $15.63.

Mobileye Global (NASDAQ:MBLY) last issued its quarterly earnings results on Thursday, January 30th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.08). Mobileye Global had a negative return on equity of 0.34% and a negative net margin of 186.82%. On average, sell-side analysts predict that Mobileye Global Inc. will post 0.01 earnings per share for the current year.

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.