Tremblant Capital Group Makes New $15.66 Million Investment in Mobileye Global Inc. (NASDAQ:MBLY)

Tremblant Capital Group bought a new position in Mobileye Global Inc. (NASDAQ:MBLY) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 557,714 shares of the company’s stock, valued at approximately $15,663,000. Mobileye Global makes up approximately 1.7% of Tremblant Capital Group’s portfolio, making the stock its 25th biggest holding. Tremblant Capital Group owned 0.07% of Mobileye Global at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC boosted 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 worth $107,000 after acquiring an additional 3,478 shares in the last quarter. Skandinaviska Enskilda Banken AB publ boosted its holdings in Mobileye Global by 55.1% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 40,257 shares of the company’s stock worth $1,131,000 after acquiring an additional 14,300 shares in the last quarter. Blair William & Co. IL raised its stake in shares of Mobileye Global by 29.1% in the second quarter. Blair William & Co. IL now owns 8,869 shares of the company’s stock worth $249,000 after purchasing an additional 1,999 shares during the last quarter. Cranbrook Wealth Management LLC purchased a new position in shares of Mobileye Global in the second quarter worth $84,000. Finally, Mystic Asset Management Inc. raised its stake in shares of Mobileye Global by 22.1% in the second quarter. Mystic Asset Management Inc. now owns 13,250 shares of the company’s stock worth $372,000 after purchasing an additional 2,400 shares during the last quarter. 13.25% of the stock is owned by institutional investors.

Insider Transactions at Mobileye Global

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

Wall Street Analyst Weigh In

MBLY has been the subject of several recent analyst reports. Morgan Stanley upgraded Mobileye Global from an “underweight” rating to an “equal weight” rating and decreased their price target for the stock from $25.00 to $18.00 in a research note on Friday, August 2nd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $15.00 price target on shares of Mobileye Global in a research note on Tuesday, September 10th. Royal Bank of Canada decreased their price target on Mobileye Global from $34.00 to $24.00 and set an “outperform” rating for the company in a research note on Wednesday, August 14th. Westpark Capital restated a “hold” rating on shares of Mobileye Global in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. cut Mobileye Global from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $38.00 to $24.00 in a research report on Wednesday, July 31st. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $30.81.

Mobileye Global Stock Performance

NASDAQ:MBLY opened at $12.34 on Tuesday. The stock has a 50-day simple moving average of $15.93 and a two-hundred day simple moving average of $24.30. Mobileye Global Inc. has a 52-week low of $10.48 and a 52-week high of $44.48. The firm has a market capitalization of $9.99 billion, a PE ratio of -58.76 and a beta of 0.08.

Mobileye Global (NASDAQ:MBLY) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. The firm had revenue of $439.00 million during the quarter, compared to analyst estimates of $424.34 million. Mobileye Global had a positive return on equity of 1.32% and a negative net margin of 12.14%. The business’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.11 earnings per share. Equities analysts forecast that Mobileye Global Inc. will post -0.07 earnings per share for the current fiscal year.

Mobileye Global Company 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.