Cellebrite DI’s (CLBT) “Buy” Rating Reiterated at DA Davidson

DA Davidson reiterated their buy rating on shares of Cellebrite DI (NASDAQ:CLBT) in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has a $15.00 price objective on the stock.

A number of other research firms have also recently commented on CLBT. Weiss Ratings cut shares of Cellebrite DI from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, August 27th. Needham & Company LLC cut their target price on Cellebrite DI from $15.00 to $12.50 and set a “buy” rating on the stock in a research report on Friday, August 14th. JPMorgan Chase & Co. cut their price objective on Cellebrite DI from $20.00 to $16.00 and set an “overweight” rating on the stock in a report on Friday, August 14th. Finally, Lake Street Capital cut their price target on shares of Cellebrite DI from $21.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, August 14th. Five analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $16.70.

Cellebrite DI Stock Performance

CLBT stock opened at $11.82 on Tuesday. Cellebrite DI has a one year low of $9.58 and a one year high of $19.98. The firm has a market cap of $2.95 billion, a PE ratio of 53.73, a PEG ratio of 1.75 and a beta of 1.15. The firm’s 50 day moving average price is $13.29 and its 200-day moving average price is $13.55.

Insider Activity

In related news, CFO David Barter sold 41,734 shares of the stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $16.38, for a total value of $683,602.92. Following the transaction, the chief financial officer owned 334,219 shares of the company’s stock, valued at $5,474,507.22. This represents a 11.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CMO David Gee sold 4,323 shares of Cellebrite DI stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $11.36, for a total value of $49,109.28. Following the sale, the chief marketing officer directly owned 135,281 shares of the company’s stock, valued at $1,536,792.16. This trade represents a 3.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 329,658 shares of company stock worth $4,970,967. 5.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Cellebrite DI

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Roubaix Capital LLC boosted its position in shares of Cellebrite DI by 108.1% in the 1st quarter. Roubaix Capital LLC now owns 303,215 shares of the company’s stock valued at $4,178,000 after purchasing an additional 157,536 shares during the period. Lazard Asset Management LLC acquired a new stake in Cellebrite DI during the 1st quarter worth $2,134,000. Principal Financial Group Inc. increased its stake in Cellebrite DI by 33.9% in the first quarter. Principal Financial Group Inc. now owns 2,156,166 shares of the company’s stock valued at $29,712,000 after purchasing an additional 545,334 shares during the period. Weiss Asset Management LP boosted its stake in shares of Cellebrite DI by 3,485.3% during the first quarter. Weiss Asset Management LP now owns 1,899,841 shares of the company’s stock worth $26,180,000 after buying an additional 1,846,851 shares during the period. Finally, Renaissance Technologies LLC increased its position in Cellebrite DI by 14.7% in the 1st quarter. Renaissance Technologies LLC now owns 2,860,639 shares of the company’s stock valued at $39,420,000 after acquiring an additional 365,700 shares during the period. 45.88% of the stock is currently owned by institutional investors and hedge funds.

About Cellebrite DI

Cellebrite DI Ltd. (NASDAQ: CLBT) develops digital intelligence and digital forensics solutions for law enforcement, public safety, government agencies and enterprises. Its technology helps authorized users access, collect, protect and analyze digital evidence from mobile devices, computers, cloud environments and other connected sources.

The company’s product portfolio includes UFED tools for mobile-device data collection, Inseyets for digital forensics investigations, and analytics and case-management solutions such as Pathfinder and Guardian.