Cellebrite DI Ltd. (NASDAQ:CLBT) Stock Now Rated “Moderate Buy” by Sell-Side Brokerages

Cellebrite DI Ltd. (NASDAQ:CLBT) has been assigned an average rating of “Moderate Buy” from the six analysts that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $16.70.

A number of equities analysts recently weighed in on the company. Weiss Ratings lowered Cellebrite DI from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, August 27th. Lake Street Capital reduced their price objective on shares of Cellebrite DI from $21.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, August 14th. DA Davidson reaffirmed a “buy” rating and set a $15.00 price objective on shares of Cellebrite DI in a research note on Tuesday, September 15th. JPMorgan Chase & Co. decreased their target price on shares of Cellebrite DI from $20.00 to $16.00 and set an “overweight” rating for the company in a report on Friday, August 14th. Finally, Needham & Company LLC dropped their target price on shares of Cellebrite DI from $15.00 to $12.50 and set a “buy” rating on the stock in a research report on Friday, August 14th.

Insider Activity

In other Cellebrite DI news, CRO Marcus Jewell sold 12,562 shares of Cellebrite DI stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $11.24, for a total transaction of $141,196.88. Following the transaction, the executive directly owned 427,128 shares in the company, valued at approximately $4,800,918.72. The trade was a 2.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CMO David Gee sold 4,323 shares of the business’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $11.36, for a total transaction of $49,109.28. Following the sale, the chief marketing officer directly owned 135,281 shares in the company, valued at approximately $1,536,792.16. This trade represents a 3.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 226,470 shares of company stock worth $3,344,724. Company insiders own 5.70% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Voss Capital LP boosted its position in Cellebrite DI by 18.9% during the 4th quarter. Voss Capital LP now owns 8,050,000 shares of the company’s stock worth $145,142,000 after acquiring an additional 1,277,300 shares during the period. Nine Ten Capital Management LLC increased its holdings in shares of Cellebrite DI by 19.8% in the 2nd quarter. Nine Ten Capital Management LLC now owns 4,126,808 shares of the company’s stock valued at $60,251,000 after purchasing an additional 682,933 shares during the period. Granahan Investment Management LLC lifted its position in shares of Cellebrite DI by 16.3% in the fourth quarter. Granahan Investment Management LLC now owns 3,057,018 shares of the company’s stock worth $55,118,000 after purchasing an additional 427,719 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Cellebrite DI by 93.7% in the second quarter. Wellington Management Group LLP now owns 3,049,904 shares of the company’s stock worth $44,529,000 after purchasing an additional 1,475,579 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of Cellebrite DI by 14.7% in the first quarter. Renaissance Technologies LLC now owns 2,860,639 shares of the company’s stock worth $39,420,000 after purchasing an additional 365,700 shares in the last quarter. 45.88% of the stock is owned by institutional investors and hedge funds.

Cellebrite DI Stock Down 1.1%

Shares of NASDAQ CLBT opened at $11.14 on Friday. The stock has a market capitalization of $2.78 billion, a price-to-earnings ratio of 50.64, a PEG ratio of 1.73 and a beta of 1.14. The stock’s fifty day simple moving average is $12.47 and its 200 day simple moving average is $13.32. Cellebrite DI has a 52-week low of $9.58 and a 52-week high of $19.98.

About Cellebrite DI

Cellebrite DI Ltd. is a digital intelligence company that develops technology for collecting, managing and analyzing digital evidence. Its solutions are designed to help law enforcement agencies, public safety organizations, government bodies and enterprises investigate activity involving mobile devices, computers, cloud services and other digital sources.

The company’s product portfolio includes tools for mobile-device extraction and digital forensics, investigative analytics, evidence management and collaboration.