Principal Financial Group Inc. Buys 346,855 Shares of Cellebrite DI Ltd. $CLBT

Principal Financial Group Inc. raised its stake in Cellebrite DI Ltd. (NASDAQ:CLBT) by 26.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,657,712 shares of the company’s stock after acquiring an additional 346,855 shares during the period. Principal Financial Group Inc.’s holdings in Cellebrite DI were worth $30,717,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Financial Management Professionals Inc. purchased a new position in shares of Cellebrite DI in the third quarter worth $28,000. CWM LLC increased its position in shares of Cellebrite DI by 85.7% in the third quarter. CWM LLC now owns 1,560 shares of the company’s stock valued at $29,000 after acquiring an additional 720 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Cellebrite DI by 1,998.0% during the second quarter. PNC Financial Services Group Inc. now owns 2,098 shares of the company’s stock valued at $34,000 after acquiring an additional 1,998 shares during the last quarter. Toth Financial Advisory Corp purchased a new stake in shares of Cellebrite DI during the third quarter worth about $38,000. Finally, Pacer Advisors Inc. grew its stake in shares of Cellebrite DI by 523.4% in the third quarter. Pacer Advisors Inc. now owns 2,743 shares of the company’s stock worth $51,000 after purchasing an additional 2,303 shares during the last quarter. Institutional investors own 45.88% of the company’s stock.

Cellebrite DI Trading Up 4.3%

Shares of CLBT stock opened at $14.17 on Friday. The company’s fifty day moving average price is $17.40 and its 200-day moving average price is $16.98. The stock has a market cap of $3.39 billion, a PE ratio of 45.71, a price-to-earnings-growth ratio of 1.89 and a beta of 1.28. Cellebrite DI Ltd. has a 12 month low of $13.10 and a 12 month high of $25.87.

Cellebrite DI (NASDAQ:CLBT) last issued its quarterly earnings results on Wednesday, November 12th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.05). Cellebrite DI had a net margin of 16.74% and a return on equity of 20.81%. The business had revenue of $126.03 million for the quarter, compared to analysts’ expectations of $122.98 million. During the same period last year, the business earned $0.14 earnings per share. The company’s revenue was up 17.9% on a year-over-year basis. On average, sell-side analysts forecast that Cellebrite DI Ltd. will post 0.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CLBT has been the subject of a number of recent analyst reports. Lake Street Capital upped their price target on Cellebrite DI from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. Bank of America boosted their target price on Cellebrite DI from $24.00 to $25.00 and gave the company a “buy” rating in a research note on Thursday, November 13th. JPMorgan Chase & Co. raised their price target on Cellebrite DI from $23.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, November 13th. Needham & Company LLC upped their price objective on shares of Cellebrite DI from $22.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cellebrite DI in a research note on Monday, December 29th. Four research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.00.

Cellebrite DI Profile

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.