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

Cellebrite DI (NASDAQ:CLBT)‘s stock had its “buy” rating reissued by research analysts at DA Davidson in a research note issued on Tuesday, Benzinga reports. They presently have a $15.00 target price on the stock. DA Davidson’s target price would indicate a potential upside of 31.29% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the stock. Needham & Company LLC cut their price objective 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. JPMorgan Chase & Co. decreased their target price on Cellebrite DI from $20.00 to $16.00 and set an “overweight” rating for the company in a research report on Friday, August 14th. Weiss Ratings downgraded Cellebrite DI from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, August 27th. Finally, Lake Street Capital cut their price target on Cellebrite DI from $21.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, August 14th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Cellebrite DI has an average rating of “Moderate Buy” and an average price target of $16.70.

Cellebrite DI Stock Down 2.1%

NASDAQ CLBT opened at $11.43 on Tuesday. The company has a market capitalization of $2.85 billion, a price-to-earnings ratio of 51.82, a PEG ratio of 1.72 and a beta of 1.15. Cellebrite DI has a twelve month low of $9.58 and a twelve month high of $19.98. The stock has a fifty day simple moving average of $13.58 and a 200 day simple moving average of $13.60.

Insider Transactions at Cellebrite DI

In other Cellebrite DI news, CFO David Barter sold 41,734 shares of Cellebrite DI stock in a transaction dated Wednesday, July 8th. The stock was 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 $5,474,507.22. The trade was a 11.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CRO Marcus Jewell sold 12,562 shares of the firm’s 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 completion of the transaction, the executive owned 427,128 shares of the company’s stock, valued at $4,800,918.72. This trade represents a 2.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 329,658 shares of company stock worth $4,970,967. Insiders own 5.70% of the company’s stock.

Institutional Investors Weigh In On Cellebrite DI

Institutional investors and hedge funds have recently made changes to their positions in the business. Tidal Investments LLC grew its position in Cellebrite DI by 12.5% during the second quarter. Tidal Investments LLC now owns 114,506 shares of the company’s stock worth $1,672,000 after buying an additional 12,749 shares in the last quarter. Nine Ten Capital Management LLC grew its holdings in shares of Cellebrite DI by 19.8% during the second quarter. Nine Ten Capital Management LLC now owns 4,126,808 shares of the company’s stock worth $60,251,000 after purchasing an additional 682,933 shares in the last quarter. Light Street Capital Management LLC increased its position in shares of Cellebrite DI by 104.8% in the second quarter. Light Street Capital Management LLC now owns 1,312,755 shares of the company’s stock worth $19,166,000 after purchasing an additional 671,830 shares during the last quarter. California State Teachers Retirement System increased its position in shares of Cellebrite DI by 1,595.2% in the second quarter. California State Teachers Retirement System now owns 1,972,752 shares of the company’s stock worth $28,802,000 after purchasing an additional 1,856,378 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in Cellebrite DI by 93.7% in the second quarter. Wellington Management Group LLP now owns 3,049,904 shares of the company’s stock valued at $44,529,000 after purchasing an additional 1,475,579 shares in the last quarter. Hedge funds and other institutional investors own 45.88% of the company’s stock.

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.