Atom Investors LP Sells 73,860 Shares of Cellebrite DI Ltd. (NASDAQ:CLBT)

Atom Investors LP trimmed its stake in shares of Cellebrite DI Ltd. (NASDAQ:CLBT) by 62.0% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 45,265 shares of the company’s stock after selling 73,860 shares during the quarter. Atom Investors LP’s holdings in Cellebrite DI were worth $762,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. FMR LLC lifted its position in Cellebrite DI by 136.3% during the third quarter. FMR LLC now owns 5,616,757 shares of the company’s stock worth $94,586,000 after purchasing an additional 3,239,307 shares during the period. Principal Financial Group Inc. bought a new stake in shares of Cellebrite DI during the 3rd quarter worth approximately $23,402,000. Pembroke Management LTD boosted its position in shares of Cellebrite DI by 104.9% during the 2nd quarter. Pembroke Management LTD now owns 1,535,726 shares of the company’s stock worth $18,352,000 after acquiring an additional 786,310 shares in the last quarter. Summit Partners Public Asset Management LLC bought a new position in Cellebrite DI in the third quarter valued at approximately $9,274,000. Finally, Meitav Investment House Ltd. raised its position in Cellebrite DI by 29.7% during the third quarter. Meitav Investment House Ltd. now owns 2,066,322 shares of the company’s stock valued at $34,797,000 after purchasing an additional 473,293 shares in the last quarter. 45.88% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CLBT shares. Bank of America raised their target price on Cellebrite DI from $13.00 to $17.00 and gave the company a “buy” rating in a report on Friday, August 16th. JPMorgan Chase & Co. lifted their target price on Cellebrite DI from $21.00 to $22.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Needham & Company LLC increased their target price on shares of Cellebrite DI from $17.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Lake Street Capital raised their price target on shares of Cellebrite DI from $13.50 to $17.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Finally, TD Cowen upped their price objective on shares of Cellebrite DI from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $20.29.

Cellebrite DI Price Performance

Cellebrite DI stock opened at $20.40 on Wednesday. The business has a 50 day moving average of $18.35 and a 200-day moving average of $15.31. Cellebrite DI Ltd. has a 1 year low of $7.91 and a 1 year high of $21.00. The company has a market capitalization of $4.20 billion, a P/E ratio of -13.16, a P/E/G ratio of 2.77 and a beta of 1.51.

Cellebrite DI (NASDAQ:CLBT) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.05. Cellebrite DI had a negative net margin of 82.28% and a positive return on equity of 122.59%. The firm had revenue of $106.90 million during the quarter, compared to analysts’ expectations of $102.06 million. During the same period in the prior year, the company posted $0.09 EPS. The company’s revenue was up 27.0% on a year-over-year basis. Equities analysts anticipate that Cellebrite DI Ltd. will post 0.32 EPS for the current year.

Cellebrite DI Profile

Cellebrite DI Ltd. develops solutions for legally sanctioned investigations in Europe, the Middle East, Africa, the Americas, and the Asia-Pacific. The company's DI suite of solutions allows users to collect, review, analyze, and manage digital data across the investigative lifecycle with respect to legally sanctioned investigations used in various cases, including child exploitation, homicide, anti-terror, border control, sexual crimes, human trafficking, corporate security, cryptocurrency, and intellectual property theft.