The Manufacturers Life Insurance Company Buys 4,517,217 Shares of Mobileye Global Inc. (NASDAQ:MBLY)

The Manufacturers Life Insurance Company increased its stake in shares of Mobileye Global Inc. (NASDAQ:MBLY) by 49.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 13,590,818 shares of the company’s stock after purchasing an additional 4,517,217 shares during the quarter. The Manufacturers Life Insurance Company owned 1.68% of Mobileye Global worth $186,194,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Bank of New York Mellon Corp increased its position in Mobileye Global by 4.2% during the second quarter. Bank of New York Mellon Corp now owns 2,347,269 shares of the company’s stock valued at $65,923,000 after acquiring an additional 94,946 shares during the last quarter. Janus Henderson Group PLC purchased a new position in shares of Mobileye Global during the 1st quarter worth about $69,638,000. Loomis Sayles & Co. L P grew its holdings in Mobileye Global by 85.3% during the 3rd quarter. Loomis Sayles & Co. L P now owns 1,668,331 shares of the company’s stock valued at $22,856,000 after purchasing an additional 768,169 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Mobileye Global by 168.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,526,234 shares of the company’s stock worth $20,909,000 after purchasing an additional 957,565 shares during the period. Finally, M&G Plc lifted its stake in Mobileye Global by 8.9% in the second quarter. M&G Plc now owns 1,350,945 shares of the company’s stock worth $37,826,000 after purchasing an additional 110,032 shares during the last quarter. Hedge funds and other institutional investors own 13.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. BNP Paribas cut Mobileye Global from a “neutral” rating to an “underperform” rating and set a $12.00 target price on the stock. in a research note on Wednesday, October 2nd. Morgan Stanley raised Mobileye Global from an “underweight” rating to an “equal weight” rating and cut their price objective for the company from $25.00 to $18.00 in a research report on Friday, August 2nd. Needham & Company LLC decreased their target price on Mobileye Global from $25.00 to $20.00 and set a “buy” rating for the company in a research report on Friday, November 1st. The Goldman Sachs Group cut their price target on shares of Mobileye Global from $24.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. Finally, Fox Advisors lowered shares of Mobileye Global from an “overweight” rating to an “equal weight” rating in a report on Thursday, August 1st. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Mobileye Global presently has an average rating of “Hold” and an average price target of $23.14.

Mobileye Global Stock Down 3.1 %

Shares of MBLY stock opened at $17.92 on Wednesday. The stock’s 50-day moving average is $14.03 and its 200 day moving average is $19.21. Mobileye Global Inc. has a 1-year low of $10.48 and a 1-year high of $44.48.

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.