ARK Investment Management LLC Reduces Holdings in Cellebrite DI Ltd. (NASDAQ:CLBT)

ARK Investment Management LLC reduced its holdings in shares of Cellebrite DI Ltd. (NASDAQ:CLBT) by 38.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 98,823 shares of the company’s stock after selling 61,802 shares during the period. ARK Investment Management LLC’s holdings in Cellebrite DI were worth $2,177,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Quarry LP purchased a new stake in shares of Cellebrite DI in the 3rd quarter worth $27,000. Advisors Asset Management Inc. grew its holdings in Cellebrite DI by 130.5% during the third quarter. Advisors Asset Management Inc. now owns 3,077 shares of the company’s stock valued at $52,000 after purchasing an additional 1,742 shares during the period. Pathway Financial Advisers LLC increased its position in Cellebrite DI by 1,583.8% in the third quarter. Pathway Financial Advisers LLC now owns 4,378 shares of the company’s stock worth $74,000 after buying an additional 4,118 shares in the last quarter. R Squared Ltd bought a new position in shares of Cellebrite DI in the fourth quarter worth about $100,000. Finally, Venturi Wealth Management LLC lifted its position in shares of Cellebrite DI by 28.6% during the 3rd quarter. Venturi Wealth Management LLC now owns 9,000 shares of the company’s stock valued at $152,000 after buying an additional 2,000 shares in the last quarter. 45.88% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on CLBT. JPMorgan Chase & Co. increased their target price on shares of Cellebrite DI from $24.00 to $28.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. Lake Street Capital increased their price objective on shares of Cellebrite DI from $17.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Craig Hallum lifted their target price on shares of Cellebrite DI from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $28.00 target price on shares of Cellebrite DI in a report on Friday, February 14th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $23.43.

Cellebrite DI Stock Performance

CLBT stock opened at $19.04 on Thursday. The company’s fifty day moving average price is $22.44 and its 200-day moving average price is $19.54. Cellebrite DI Ltd. has a one year low of $10.24 and a one year high of $26.30. The company has a market capitalization of $3.92 billion, a PE ratio of -13.70, a price-to-earnings-growth ratio of 4.27 and a beta of 1.47.

Cellebrite DI (NASDAQ:CLBT) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.03). Cellebrite DI had a positive return on equity of 58.70% and a negative net margin of 70.54%. On average, research analysts predict that Cellebrite DI Ltd. will post 0.3 EPS for the current fiscal year.

About Cellebrite DI

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.