Mobileye Global Inc. (NASDAQ:MBLY) director Patrick Gelsinger has recently increased his stake in the company, buying shares valued at over $100,000. The transactions, which took place on April 29 and May 1, 2024, demonstrate a vote of confidence in the future of the prepackaged software services provider.
On April 29, Gelsinger purchased 2,000 shares at a price of $27.53 per share, followed by an acquisition of 1,611 shares at a weighted average price of $28.1679 on May 1. This second transaction involved multiple trades, with prices ranging from $28.05 to $28.28. The reported price reflects the weighted average sale price, and Gelsinger has committed to providing full transaction details upon request.
Following these purchases, Gelsinger now holds a total of 132,706 shares of Mobileye Global Inc. It's worth noting that these shares are held indirectly by a trust. The substantial investment by a high-ranking insider often signals strong belief in the company's prospects and financial health.
Mobileye Global Inc., headquartered in Jerusalem, is known for its advanced driver-assistance systems and autonomous driving technologies. These recent transactions by a key insider could be of interest to current and potential investors, as insider trading activity is often closely watched for insights into a company's performance and outlook.
InvestingPro Insights
As Mobileye Global Inc. (NASDAQ:MBLY) garners attention with insider buying, investors are looking for signals that might indicate the company's potential trajectory. Patrick Gelsinger's recent purchase of over $100,000 in MBLY shares is a significant vote of confidence, particularly when analyzed alongside key financial metrics and expert analyses from InvestingPro.
InvestingPro data shows that Mobileye holds a market capitalization of $22.21 billion, which is substantial yet reflects a challenging P/E ratio of -150.03. This negative P/E ratio is indicative of the company's lack of profitability over the last twelve months as of Q1 2024, aligning with the InvestingPro Tips that highlight Mobileye's non-profitable status during this period. However, analysts predict that the company will turn profitable this year, which could be a driving factor behind Gelsinger's investment.
Moreover, Mobileye's gross profit margin stands at a healthy 48.06%, suggesting that despite revenue declines, the company maintains a strong ability to convert sales into gross profit. This is reinforced by another InvestingPro Tip indicating that Mobileye's liquid assets exceed its short-term obligations, pointing towards a solid financial position in terms of liquidity.
For investors seeking a more in-depth analysis, there are additional InvestingPro Tips available on the platform, including insights into analyst revisions, stock performance over various periods, and valuation multiples. Specifically, there are 10 additional tips listed for Mobileye on InvestingPro, providing a comprehensive view of the company's financial health and market expectations.
Interested readers can delve further into these insights and utilize the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, which includes access to real-time data and expert analyses that could be pivotal in making informed investment decisions.
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