Light Street Capital Management LLC Makes New $15.28 Million Investment in Mobileye Global Inc. (NASDAQ:MBLY)

Light Street Capital Management LLC purchased a new position in shares of Mobileye Global Inc. (NASDAQ:MBLY) during the fourth quarter, HoldingsChannel reports. The fund purchased 766,892 shares of the company’s stock, valued at approximately $15,276,000. Mobileye Global accounts for approximately 2.8% of Light Street Capital Management LLC’s holdings, making the stock its 12th biggest holding.

Other institutional investors and hedge funds also recently made changes to their positions in the company. The Manufacturers Life Insurance Company raised its holdings in Mobileye Global by 4.6% during the fourth quarter. The Manufacturers Life Insurance Company now owns 14,211,880 shares of the company’s stock worth $283,101,000 after acquiring an additional 621,062 shares in the last quarter. Norges Bank bought a new stake in shares of Mobileye Global during the 4th quarter worth approximately $95,937,000. Primecap Management Co. CA boosted its holdings in shares of Mobileye Global by 2.3% in the 4th quarter. Primecap Management Co. CA now owns 1,804,400 shares of the company’s stock valued at $35,944,000 after buying an additional 40,000 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Mobileye Global by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 1,715,928 shares of the company’s stock valued at $34,181,000 after buying an additional 45,756 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Mobileye Global by 0.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,534,574 shares of the company’s stock worth $30,569,000 after buying an additional 8,340 shares during the last quarter. Institutional investors and hedge funds own 13.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Piper Sandler boosted their price objective on shares of Mobileye Global from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Thursday, March 20th. The Goldman Sachs Group lowered their price objective on Mobileye Global from $20.00 to $17.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Oppenheimer started coverage on shares of Mobileye Global in a research report on Wednesday, January 15th. They issued an “outperform” rating and a $28.00 target price for the company. Needham & Company LLC dropped 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. Finally, TD Cowen raised their target price on shares of Mobileye Global from $15.00 to $18.00 and gave the stock a “buy” rating in a report on Friday, April 25th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $18.63.

Mobileye Global Stock Up 4.0%

MBLY opened at $16.30 on Monday. Mobileye Global Inc. has a twelve month low of $10.48 and a twelve month high of $33.26. The company has a fifty day moving average of $14.32 and a 200-day moving average of $16.07. The stock has a market cap of $13.24 billion, a PE ratio of -4.27, a price-to-earnings-growth ratio of 69.54 and a beta of 0.38.

Mobileye Global (NASDAQ:MBLY) last announced its quarterly earnings data 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 return on equity of 0.34% and a negative net margin of 186.82%. The company had revenue of $438.00 million for the quarter, compared to the consensus estimate of $434.87 million. During the same period in the previous year, the business earned ($0.07) EPS. The firm’s revenue was up 83.3% compared to the same quarter last year. Sell-side analysts anticipate that Mobileye Global Inc. will post 0.01 EPS for the current fiscal 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.