Cellebrite DI (NASDAQ:CLBT) Coverage Initiated by Analysts at DA Davidson

Equities research analysts at DA Davidson began coverage on shares of Cellebrite DI (NASDAQ:CLBT) in a report issued on Wednesday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $20.00 price target on the stock. DA Davidson’s target price would indicate a potential upside of 54.14% from the company’s previous close.

A number of other research analysts have also weighed in on the stock. Wall Street Zen raised shares of Cellebrite DI from a “sell” rating to a “hold” rating in a research note on Sunday, March 15th. Needham & Company LLC cut their price target on Cellebrite DI from $18.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, May 15th. Finally, Weiss Ratings raised Cellebrite DI from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, May 18th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $21.40.

Cellebrite DI Trading Up 0.7%

Shares of CLBT traded up $0.09 during trading hours on Wednesday, reaching $12.98. The stock had a trading volume of 226,711 shares, compared to its average volume of 1,902,542. The firm has a 50-day simple moving average of $13.33 and a 200 day simple moving average of $15.33. Cellebrite DI has a 12 month low of $11.02 and a 12 month high of $19.98. The company has a market capitalization of $3.24 billion, a price-to-earnings ratio of 46.22, a P/E/G ratio of 1.58 and a beta of 1.15.

Insiders Place Their Bets

In related news, CRO Marcus Jewell sold 12,658 shares of the business’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $12.77, for a total transaction of $161,642.66. Following the transaction, the executive directly owned 440,101 shares in the company, valued at approximately $5,620,089.77. The trade was a 2.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 13,269 shares of company stock worth $169,592 in the last 90 days. 5.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Cellebrite DI

A number of hedge funds and other institutional investors have recently modified their holdings of CLBT. Cooper Creek Partners Management LLC bought a new position in shares of Cellebrite DI in the third quarter valued at approximately $55,999,000. Granahan Investment Management LLC increased its holdings in Cellebrite DI by 1,108.5% during the third quarter. Granahan Investment Management LLC now owns 2,629,299 shares of the company’s stock worth $48,721,000 after buying an additional 2,411,726 shares during the last quarter. Capital International Investors bought a new stake in Cellebrite DI in the fourth quarter worth about $41,073,000. Invesco Ltd. raised its position in Cellebrite DI by 58.6% in the third quarter. Invesco Ltd. now owns 5,560,196 shares of the company’s stock worth $103,030,000 after acquiring an additional 2,054,644 shares during the period. Finally, Weiss Asset Management LP boosted its stake in Cellebrite DI by 3,485.3% in the first quarter. Weiss Asset Management LP now owns 1,899,841 shares of the company’s stock valued at $26,180,000 after acquiring an additional 1,846,851 shares during the last quarter. Hedge funds and other institutional investors own 45.88% of the company’s stock.

Cellebrite DI Company 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.