Cellebrite DI Ltd. (NASDAQ:CLBT) Stock Has Average Price Target of $16.70

Shares of Cellebrite DI Ltd. (NASDAQ:CLBT) have been given an average rating of “Moderate Buy” by the six research firms that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $16.70.

Several analysts have recently issued reports on CLBT shares. Weiss Ratings lowered shares of 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 target on shares of Cellebrite DI from $21.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, August 14th. JPMorgan Chase & Co. decreased their price target on shares of Cellebrite DI from $20.00 to $16.00 and set an “overweight” rating on the stock in a research note on Friday, August 14th. DA Davidson reaffirmed a “buy” rating and issued a $15.00 price target on shares of Cellebrite DI in a research note on Tuesday, September 15th. Finally, Needham & Company LLC lowered their price objective on Cellebrite DI from $15.00 to $12.50 and set a “buy” rating on the stock in a report on Friday, August 14th.

Cellebrite DI Stock Performance

Shares of Cellebrite DI stock opened at $11.79 on Tuesday. The firm has a 50-day simple moving average of $11.38 and a two-hundred day simple moving average of $13.03. The company has a market cap of $2.94 billion, a P/E ratio of 41.07, a price-to-earnings-growth ratio of 1.76 and a beta of 1.14. Cellebrite DI has a fifty-two week low of $9.58 and a fifty-two week high of $19.98.

Insiders Place Their Bets

In related news, CEO Thomas Hogan sold 139,713 shares of the business’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $15.39, for a total value of $2,150,183.07. Following the sale, the chief executive officer directly owned 790,548 shares in the company, valued at approximately $12,166,533.72. The trade was a 15.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Marcus Jewell sold 12,562 shares of the business’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 sale, the executive directly owned 427,128 shares in the company, 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. Over the last ninety days, insiders have sold 196,870 shares of company stock valued at $2,797,143. 5.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Nine Ten Capital Management LLC raised its holdings in 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. Wellington Management Group LLP boosted its holdings in Cellebrite DI by 93.7% in the 2nd 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. Renaissance Technologies LLC boosted its holdings in Cellebrite DI by 14.7% in the 1st quarter. Renaissance Technologies LLC now owns 2,860,639 shares of the company’s stock valued at $39,420,000 after purchasing an additional 365,700 shares in the last quarter. Principal Financial Group Inc. increased its position in Cellebrite DI by 33.9% during the 1st quarter. Principal Financial Group Inc. now owns 2,156,166 shares of the company’s stock worth $29,712,000 after purchasing an additional 545,334 shares during the period. Finally, Meitav Investment House Ltd. increased its position in Cellebrite DI by 34.4% during the 1st quarter. Meitav Investment House Ltd. now owns 1,954,846 shares of the company’s stock worth $26,938,000 after purchasing an additional 500,000 shares during the period. 45.88% of the stock is currently owned by hedge funds and other institutional investors.

About Cellebrite DI

Cellebrite DI Ltd. (NASDAQ: CLBT) provides digital intelligence and digital forensics solutions that help organizations collect, preserve, analyze and manage data from mobile devices, computers, cloud environments and other digital sources. Its customers include law enforcement agencies, public safety organizations, government and intelligence bodies, military units, and corporate security and investigation teams.

The company’s offerings include tools for accessing and extracting digital evidence, case and evidence management, and investigative analytics.