Cellebrite DI (NASDAQ:CLBT) Price Target Raised to $22.00 at DA Davidson

Cellebrite DI (NASDAQ:CLBT) had its price target raised by stock analysts at DA Davidson from $20.00 to $22.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. DA Davidson’s price objective points to a potential upside of 42.30% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on the company. Needham & Company LLC dropped their price objective on Cellebrite DI from $18.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, May 15th. Weiss Ratings raised Cellebrite DI from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, May 18th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $21.80.

Cellebrite DI Price Performance

Shares of NASDAQ:CLBT traded down $0.18 during midday trading on Thursday, reaching $15.46. 600,623 shares of the company’s stock were exchanged, compared to its average volume of 1,885,303. The stock has a market cap of $3.86 billion, a price-to-earnings ratio of 55.22, a P/E/G ratio of 1.95 and a beta of 1.18. Cellebrite DI has a fifty-two week low of $11.02 and a fifty-two week high of $19.98. The firm’s 50 day simple moving average is $14.48 and its two-hundred day simple moving average is $14.11.

Insider Buying and Selling at Cellebrite DI

In other Cellebrite DI news, CEO Thomas E. Hogan sold 103,188 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $15.76, for a total transaction of $1,626,242.88. Following the sale, the chief executive officer owned 590,777 shares of the company’s stock, valued at approximately $9,310,645.52. This trade represents a 14.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO David Barter sold 41,734 shares of the company’s stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $16.38, for a total transaction of $683,602.92. Following the completion of the transaction, the chief financial officer owned 334,219 shares of the company’s stock, valued at approximately $5,474,507.22. The trade was a 11.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 158,191 shares of company stock worth $2,479,438 over the last three months. Insiders own 5.70% of the company’s stock.

Institutional Trading of Cellebrite DI

A number of large investors have recently made changes to their positions in CLBT. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Cellebrite DI by 16.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 173,013 shares of the company’s stock valued at $3,362,000 after buying an additional 24,881 shares during the last quarter. Geode Capital Management LLC raised its position in Cellebrite DI by 16.2% in the 2nd quarter. Geode Capital Management LLC now owns 314,440 shares of the company’s stock valued at $5,029,000 after purchasing an additional 43,898 shares during the last quarter. Invesco Ltd. boosted its stake in Cellebrite DI by 6.4% during the 2nd quarter. Invesco Ltd. now owns 3,505,552 shares of the company’s stock worth $56,089,000 after purchasing an additional 209,473 shares during the period. First Trust Advisors LP purchased a new position in Cellebrite DI during the 2nd quarter worth $341,000. Finally, Marshall Wace LLP acquired a new position in Cellebrite DI in the second quarter valued at $4,472,000. 45.88% of the stock is owned by institutional investors and hedge funds.

About Cellebrite DI

Cellebrite DI is a global provider of digital intelligence and forensics solutions that enable law enforcement agencies, government bodies and enterprises to extract, analyze and act on data from mobile devices, cloud services and digital sources. The company’s technology is designed to accelerate investigations, support evidence-based decision-making and enhance security operations by delivering actionable intelligence in a secure, scalable platform.

The company’s flagship offerings include the Universal Forensic Extraction Device (UFED) series for data acquisition and decoding, Physical Analyzer for advanced data parsing and visualization, and Pathfinder for case-driven investigation workflows.