Franklin Resources Inc. Reduces Stake in Mobileye Global Inc. (NASDAQ:MBLY)

Franklin Resources Inc. reduced its holdings in shares of Mobileye Global Inc. (NASDAQ:MBLY - Free Report) by 34.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,595,899 shares of the company's stock after selling 836,007 shares during the quarter. Franklin Resources Inc. owned about 0.20% of Mobileye Global worth $20,683,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. The Manufacturers Life Insurance Company grew its holdings in Mobileye Global by 807.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,073,601 shares of the company's stock valued at $254,832,000 after buying an additional 8,073,552 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Mobileye Global by 168.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,526,234 shares of the company's stock valued at $20,909,000 after acquiring an additional 957,565 shares in the last quarter. Loomis Sayles & Co. L P increased 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 worth $22,856,000 after acquiring an additional 768,169 shares during the period. Tremblant Capital Group purchased a new stake in Mobileye Global in the 2nd quarter worth approximately $15,663,000. Finally, Melqart Asset Management UK Ltd bought a new position in Mobileye Global in the 3rd quarter valued at $4,978,000. 13.25% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MBLY. BNP Paribas cut shares of Mobileye Global from a "neutral" rating to an "underperform" rating and set a $12.00 price target on the stock. in a report on Wednesday, October 2nd. The Goldman Sachs Group decreased their target price on Mobileye Global from $24.00 to $20.00 and set a "buy" rating on the stock in a research note on Tuesday, October 1st. UBS Group cut Mobileye Global from a "buy" rating to a "neutral" rating and lowered their price target for the company from $20.00 to $14.00 in a report on Friday, October 4th. JPMorgan Chase & Co. restated an "underweight" rating and issued a $10.00 price objective (down from $16.00) on shares of Mobileye Global in a research report on Monday, October 7th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and set a $11.00 target price on shares of Mobileye Global in a research report on Thursday, December 5th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $23.38.

Mobileye Global Stock Performance

NASDAQ:MBLY traded down $0.21 during midday trading on Friday, reaching $17.51. 6,320,127 shares of the stock traded hands, compared to its average volume of 5,239,795. The stock has a market capitalization of $14.20 billion, a P/E ratio of -4.80 and a beta of 0.44. The company has a fifty day moving average of $15.80 and a 200 day moving average of $18.13. Mobileye Global Inc. has a 12 month low of $10.48 and a 12 month high of $44.48.

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.