Polen Capital Management LLC Takes Position in Cellebrite DI Ltd. (NASDAQ:CLBT)

Polen Capital Management LLC purchased a new position in shares of Cellebrite DI Ltd. (NASDAQ:CLBT) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 10,095 shares of the company’s stock, valued at approximately $222,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Empowered Funds LLC acquired a new position in Cellebrite DI during the third quarter worth about $2,002,000. Advisors Asset Management Inc. increased its stake in shares of Cellebrite DI by 130.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 3,077 shares of the company’s stock worth $52,000 after purchasing an additional 1,742 shares in the last quarter. Telemark Asset Management LLC acquired a new position in shares of Cellebrite DI during the 3rd quarter worth approximately $6,736,000. FMR LLC lifted its stake in Cellebrite DI by 136.3% in the 3rd quarter. FMR LLC now owns 5,616,757 shares of the company’s stock valued at $94,586,000 after buying an additional 3,239,307 shares in the last quarter. Finally, Quantbot Technologies LP grew its holdings in Cellebrite DI by 77.0% during the 3rd quarter. Quantbot Technologies LP now owns 114,318 shares of the company’s stock valued at $1,925,000 after buying an additional 49,742 shares during the last quarter. 45.88% of the stock is currently owned by hedge funds and other institutional investors.

Cellebrite DI Price Performance

Shares of CLBT stock opened at $18.66 on Tuesday. Cellebrite DI Ltd. has a 1-year low of $10.25 and a 1-year high of $26.30. The firm’s 50-day simple moving average is $21.34 and its 200-day simple moving average is $19.74. The firm has a market cap of $3.84 billion, a P/E ratio of -13.42, a PEG ratio of 4.27 and a beta of 1.52.

Cellebrite DI (NASDAQ:CLBT) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.03). Cellebrite DI had a positive return on equity of 58.70% and a negative net margin of 70.54%. Analysts expect that Cellebrite DI Ltd. will post 0.3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CLBT has been the topic of several recent research reports. Lake Street Capital upped their price objective on Cellebrite DI from $17.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Needham & Company LLC restated a “buy” rating and issued a $28.00 target price on shares of Cellebrite DI in a report on Monday, March 10th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Cellebrite DI from $24.00 to $28.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $23.43.

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.