Cellebrite DI (NASDAQ:CLBT) Stock Price Down 4.6%

Shares of Cellebrite DI Ltd. (NASDAQ:CLBT) traded down 4.6% during trading on Wednesday . The stock traded as low as $11.29 and last traded at $11.32. 242,236 shares were traded during trading, a decline of 74% from the average session volume of 936,235 shares. The stock had previously closed at $11.87.

Analysts Set New Price Targets

A number of research firms have recently commented on CLBT. Needham & Company LLC lifted their price target on shares of Cellebrite DI from $13.00 to $13.50 and gave the company a “buy” rating in a research report on Thursday. Bank of America upgraded shares of Cellebrite DI from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $9.00 to $12.00 in a report on Friday, February 16th. Finally, William Blair raised Cellebrite DI from a “market perform” rating to an “outperform” rating in a research report on Wednesday, March 13th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $11.10.

Cellebrite DI Stock Down 3.2 %

The stock’s 50-day moving average is $10.69 and its 200-day moving average is $8.82. The firm has a market cap of $2.27 billion, a P/E ratio of -25.77, a price-to-earnings-growth ratio of 2.02 and a beta of 1.56.

Cellebrite DI (NASDAQ:CLBT) last announced its quarterly earnings data on Thursday, February 15th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. Cellebrite DI had a negative net margin of 24.94% and a positive return on equity of 173.14%. The business had revenue of $93.01 million during the quarter, compared to analyst estimates of $85.43 million. As a group, analysts expect that Cellebrite DI Ltd. will post 0.32 EPS for the current fiscal year.

Institutional Trading of Cellebrite DI

A number of hedge funds have recently modified their holdings of the company. Swiss National Bank raised its stake in shares of Cellebrite DI by 7.6% in the first quarter. Swiss National Bank now owns 89,000 shares of the company’s stock valued at $570,000 after purchasing an additional 6,300 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Cellebrite DI by 159.3% in the 1st quarter. JPMorgan Chase & Co. now owns 49,499 shares of the company’s stock valued at $317,000 after buying an additional 30,410 shares in the last quarter. Blair William & Co. IL lifted its holdings in shares of Cellebrite DI by 3,021.1% during the 1st quarter. Blair William & Co. IL now owns 523,978 shares of the company’s stock worth $3,353,000 after acquiring an additional 507,190 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Cellebrite DI during the 1st quarter valued at about $127,000. Finally, State Street Corp increased its stake in Cellebrite DI by 20.3% in the first quarter. State Street Corp now owns 155,440 shares of the company’s stock valued at $995,000 after acquiring an additional 26,240 shares during the period. Institutional investors own 45.88% of the company’s stock.

About Cellebrite DI

Cellebrite DI Ltd. develops solutions for legally sanctioned investigations in Europe, the Middle East, Africa, the United States, and the Asia-Pacific. Its DI suite of solutions allows users to collect, review, analyze, and manage digital data across the investigative lifecycle with respect to legally sanctioned investigations and solutions are used in a various case, including child exploitation, homicide, anti-terror, border control, sexual crimes, human trafficking, corporate security, intellectual property theft, and civil litigation.