Principal Financial Group Inc. Takes $12.20 Million Position in Mobileye Global Inc. (NASDAQ:MBLY)

Principal Financial Group Inc. acquired a new position in Mobileye Global Inc. (NASDAQ:MBLY) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 612,575 shares of the company’s stock, valued at approximately $12,202,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Van ECK Associates Corp boosted its stake in shares of Mobileye Global by 35.7% in the 4th quarter. Van ECK Associates Corp now owns 21,274 shares of the company’s stock valued at $424,000 after purchasing an additional 5,597 shares during the last quarter. Robocap Asset Management Ltd raised its stake in Mobileye Global by 28.2% during the 4th quarter. Robocap Asset Management Ltd now owns 124,467 shares of the company’s stock worth $2,479,000 after buying an additional 27,416 shares during the period. Migdal Insurance & Financial Holdings Ltd. increased its holdings in Mobileye Global by 2,124.2% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 167,084 shares of the company’s stock worth $3,328,000 after purchasing an additional 159,572 shares in the last quarter. Financial Advocates Investment Management bought a new stake in shares of Mobileye Global in the fourth quarter worth $428,000. Finally, Y.D. More Investments Ltd raised its holdings in Mobileye Global by 117.3% during the fourth quarter. Y.D. More Investments Ltd now owns 77,150 shares of the company’s stock worth $1,537,000 after acquiring an additional 41,650 shares in the last quarter. 13.25% of the stock is owned by institutional investors.

Mobileye Global Stock Down 1.6 %

Shares of NASDAQ:MBLY opened at $16.15 on Friday. The business’s 50 day moving average is $17.48 and its 200 day moving average is $15.57. Mobileye Global Inc. has a 12-month low of $10.48 and a 12-month high of $34.00. The stock has a market cap of $13.10 billion, a price-to-earnings ratio of -4.23, a PEG ratio of 69.54 and a beta of 0.26.

Mobileye Global (NASDAQ:MBLY) last posted its quarterly earnings data on Thursday, January 30th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. As a group, equities research analysts expect that Mobileye Global Inc. will post 0.01 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on MBLY. Wolfe Research raised shares of Mobileye Global from a “peer perform” rating to an “outperform” rating in a research report on Thursday, December 5th. Canaccord Genuity Group reduced their price objective on shares of Mobileye Global from $27.00 to $25.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Barclays raised their price target on shares of Mobileye Global from $18.00 to $22.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. The Goldman Sachs Group upped their price objective on Mobileye Global from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Monday. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Mobileye Global in a research note on Friday, January 31st. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $22.95.

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.