MQS Management LLC Takes $294,000 Position in Cellebrite DI Ltd. (NASDAQ:CLBT)

MQS Management LLC acquired a new stake in shares of Cellebrite DI Ltd. (NASDAQ:CLBT) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 17,468 shares of the company’s stock, valued at approximately $294,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CLBT. Janney Montgomery Scott LLC raised its stake in Cellebrite DI by 240.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 45,300 shares of the company’s stock valued at $502,000 after buying an additional 31,981 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of Cellebrite DI by 34.8% in the first quarter. SG Americas Securities LLC now owns 51,881 shares of the company’s stock worth $575,000 after buying an additional 13,392 shares during the last quarter. Sei Investments Co. raised its position in Cellebrite DI by 44.7% in the first quarter. Sei Investments Co. now owns 121,166 shares of the company’s stock worth $1,343,000 after acquiring an additional 37,408 shares during the period. Russell Investments Group Ltd. grew its position in shares of Cellebrite DI by 92.5% during the 1st quarter. Russell Investments Group Ltd. now owns 16,649 shares of the company’s stock valued at $188,000 after acquiring an additional 8,001 shares during the period. Finally, Acadian Asset Management LLC lifted its position in Cellebrite DI by 26.8% during the first quarter. Acadian Asset Management LLC now owns 2,896,497 shares of the company’s stock valued at $32,062,000 after purchasing an additional 612,787 shares in the last quarter. Institutional investors own 45.88% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on CLBT. TD Cowen raised their target price on shares of Cellebrite DI from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. JPMorgan Chase & Co. lifted their price target on shares of Cellebrite DI from $21.00 to $22.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Craig Hallum increased their price objective on shares of Cellebrite DI from $23.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Bank of America lifted their target price on Cellebrite DI from $13.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Finally, Lake Street Capital raised their price target on Cellebrite DI from $13.50 to $17.00 and gave the company a “buy” rating in a report on Friday, August 16th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $20.29.

Cellebrite DI Stock Performance

Cellebrite DI stock opened at $17.96 on Friday. Cellebrite DI Ltd. has a 12-month low of $7.64 and a 12-month high of $21.00. The firm has a 50-day moving average price of $17.70 and a 200-day moving average price of $14.47.

Cellebrite DI (NASDAQ:CLBT) last announced its earnings results on Wednesday, November 6th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.05. Cellebrite DI had a positive return on equity of 122.59% and a negative net margin of 82.28%. The business had revenue of $106.90 million during the quarter, compared to analyst estimates of $102.06 million. During the same quarter in the previous year, the business earned $0.09 earnings per share. The company’s revenue for the quarter was up 27.0% compared to the same quarter last year. As a group, analysts predict that Cellebrite DI Ltd. will post 0.31 earnings per share for the current fiscal year.

Cellebrite DI Profile

Cellebrite DI Ltd. develops solutions for legally sanctioned investigations in Europe, the Middle East, Africa, the Americas, and the Asia-Pacific. The company's DI suite of solutions allows users to collect, review, analyze, and manage digital data across the investigative lifecycle with respect to legally sanctioned investigations used in various cases, including child exploitation, homicide, anti-terror, border control, sexual crimes, human trafficking, corporate security, cryptocurrency, and intellectual property theft.