Patten & Patten Inc. TN Trims Stake in Mobileye Global Inc. (NASDAQ:MBLY)

Patten & Patten Inc. TN reduced its position in shares of Mobileye Global Inc. (NASDAQ:MBLY) by 23.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,785 shares of the company’s stock after selling 24,365 shares during the period. Patten & Patten Inc. TN’s holdings in Mobileye Global were worth $1,569,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in MBLY. The Manufacturers Life Insurance Company grew its position in Mobileye Global by 49.8% in the third quarter. The Manufacturers Life Insurance Company now owns 13,590,818 shares of the company’s stock worth $186,194,000 after acquiring an additional 4,517,217 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Mobileye Global by 168.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,526,234 shares of the company’s stock worth $20,909,000 after acquiring an additional 957,565 shares in the last quarter. Loomis Sayles & Co. L P grew its position in Mobileye Global by 85.3% in the third quarter. Loomis Sayles & Co. L P now owns 1,668,331 shares of the company’s stock worth $22,856,000 after acquiring an additional 768,169 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Mobileye Global in the fourth quarter worth $13,786,000. Finally, Principal Financial Group Inc. purchased a new position in Mobileye Global in the fourth quarter worth $12,202,000. 13.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MBLY has been the topic of a number of recent research reports. UBS Group raised their price objective on Mobileye Global from $14.00 to $17.00 and gave the company a “neutral” rating in a research note on Thursday, January 16th. Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 price objective on shares of Mobileye Global in a research note on Friday, January 31st. Mizuho reduced their price objective on Mobileye Global from $17.00 to $16.00 and set a “neutral” rating on the stock in a research note on Friday, January 31st. Wolfe Research raised Mobileye Global from a “peer perform” rating to an “outperform” rating in a research note on Thursday, December 5th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $11.00 price objective on shares of Mobileye Global in a research note on Thursday, December 5th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $22.95.

Mobileye Global Stock Performance

MBLY opened at $14.97 on Monday. Mobileye Global Inc. has a fifty-two week low of $10.48 and a fifty-two week high of $34.00. The firm’s fifty day moving average is $16.47 and its 200 day moving average is $15.62. The stock has a market cap of $12.14 billion, a price-to-earnings ratio of -3.92, a price-to-earnings-growth ratio of 69.54 and a beta of 0.29.

Mobileye Global (NASDAQ:MBLY) last released its earnings results on Thursday, January 30th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.08). Mobileye Global had a negative net margin of 186.82% and a negative return on equity of 0.34%. On average, equities research 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.