Wellington Management Group LLP Sells 47,556 Shares of Mobileye Global Inc. (NASDAQ:MBLY)

Wellington Management Group LLP reduced its position in Mobileye Global Inc. (NASDAQ:MBLY) by 5.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 825,796 shares of the company’s stock after selling 47,556 shares during the quarter. Wellington Management Group LLP’s holdings in Mobileye Global were worth $35,732,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Platinum Investment Management Ltd. purchased a new position in Mobileye Global in the first quarter worth $39,000. CIBC Private Wealth Group LLC purchased a new stake in shares of Mobileye Global during the first quarter valued at $2,114,000. PFG Investments LLC purchased a new stake in shares of Mobileye Global during the first quarter valued at $371,000. ExodusPoint Capital Management LP grew its holdings in shares of Mobileye Global by 16.1% during the first quarter. ExodusPoint Capital Management LP now owns 47,352 shares of the company’s stock valued at $2,049,000 after buying an additional 6,553 shares during the last quarter. Finally, Natixis Advisors L.P. grew its holdings in shares of Mobileye Global by 52.5% during the first quarter. Natixis Advisors L.P. now owns 34,034 shares of the company’s stock valued at $1,473,000 after buying an additional 11,712 shares during the last quarter. 14.85% of the stock is owned by hedge funds and other institutional investors.

Mobileye Global Trading Down 1.4 %

Shares of NASDAQ MBLY opened at $35.83 on Friday. Mobileye Global Inc. has a 12-month low of $24.85 and a 12-month high of $48.11. The stock has a market cap of $28.87 billion and a PE ratio of -223.94. The company has a 50-day moving average of $38.39 and a 200 day moving average of $39.90.

Mobileye Global (NASDAQ:MBLY) last announced its quarterly earnings data on Thursday, July 27th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.06. Mobileye Global had a negative net margin of 6.33% and a positive return on equity of 3.39%. The company had revenue of $454.00 million during the quarter, compared to analysts’ expectations of $452.64 million. On average, sell-side analysts forecast that Mobileye Global Inc. will post 0.43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MBLY. Canaccord Genuity Group boosted their price objective on shares of Mobileye Global from $50.00 to $55.00 and gave the company a “buy” rating in a report on Friday, July 28th. TD Cowen lowered their price target on shares of Mobileye Global from $48.00 to $45.00 and set an “outperform” rating on the stock in a report on Friday, July 28th. Morgan Stanley assumed coverage on shares of Mobileye Global in a report on Tuesday, July 25th. They issued an “equal weight” rating and a $34.00 price target on the stock. Bank of America upped their price target on shares of Mobileye Global from $40.00 to $44.00 in a report on Thursday, July 13th. Finally, Citigroup upped their price target on shares of Mobileye Global from $71.00 to $72.00 in a report on Friday, July 28th. Four analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Mobileye Global has an average rating of “Moderate Buy” and a consensus price target of $47.38.

Insider Activity

In other news, Director Patrick P. Gelsinger purchased 2,650 shares of the company’s stock in a transaction dated Monday, July 31st. The stock was acquired at an average price of $37.88 per share, with a total value of $100,382.00. Following the purchase, the director now directly owns 122,650 shares in the company, valued at approximately $4,645,982. The acquisition was disclosed in a document filed with the SEC, which is available at this link. In related news, major shareholder Corp Intel sold 38,500,000 shares of the stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $40.84, for a total transaction of $1,572,340,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Patrick P. Gelsinger acquired 2,650 shares of the stock in a transaction that occurred on Monday, July 31st. The shares were bought at an average cost of $37.88 per share, with a total value of $100,382.00. Following the transaction, the director now directly owns 122,650 shares in the company, valued at approximately $4,645,982. The disclosure for this purchase can be found here. Corporate insiders own 2.60% of the company’s stock.

About Mobileye Global

Mobileye Global Inc engages in the development and deployment of advanced driver assistance systems (ADAS) and autonomous driving technologies and solutions worldwide. The company offers Driver Assist, which comprise 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.