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

Shares of Cellebrite DI Ltd. (NASDAQ:CLBT) have earned an average recommendation of “Moderate Buy” from the six research firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $16.70.

Several research firms have weighed in on CLBT. Weiss Ratings cut 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 decreased their target price on 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 for the company in a report on Friday, August 14th. Needham & Company LLC lowered their target price on Cellebrite DI from $15.00 to $12.50 and set a “buy” rating on the stock in a research note on Friday, August 14th. Finally, DA Davidson reissued a “buy” rating and issued a $15.00 target price on shares of Cellebrite DI in a research report on Tuesday, September 15th.

Insider Buying and Selling

In other Cellebrite DI news, CFO David Barter sold 41,734 shares of the company’s stock in a transaction that occurred on 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 sale, the chief financial officer owned 334,219 shares of the company’s stock, valued at $5,474,507.22. This represents a 11.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Marcus Jewell sold 12,562 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $11.24, for a total value of $141,196.88. Following the transaction, the executive owned 427,128 shares in the company, valued at approximately $4,800,918.72. This trade represents a 2.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 329,658 shares of company stock valued at $4,970,967 over the last 90 days. 5.70% of the stock is currently owned by insiders.

Institutional Trading of Cellebrite DI

Several large investors have recently modified their holdings of the company. Roubaix Capital LLC lifted its position in Cellebrite DI by 108.1% during the 1st quarter. Roubaix Capital LLC now owns 303,215 shares of the company’s stock worth $4,178,000 after acquiring an additional 157,536 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Cellebrite DI in the first quarter valued at about $2,134,000. Principal Financial Group Inc. grew its position in shares of Cellebrite DI by 33.9% in the first quarter. Principal Financial Group Inc. now owns 2,156,166 shares of the company’s stock valued at $29,712,000 after purchasing an additional 545,334 shares during the last quarter. Light Street Capital Management LLC increased its stake 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 period. Finally, Renaissance Technologies LLC increased its stake in shares of Cellebrite DI by 14.7% in the first quarter. Renaissance Technologies LLC now owns 2,860,639 shares of the company’s stock worth $39,420,000 after purchasing an additional 365,700 shares during the period. 45.88% of the stock is owned by institutional investors.

Cellebrite DI Price Performance

CLBT stock opened at $10.79 on Friday. The firm has a market capitalization of $2.69 billion, a P/E ratio of 49.05, a P/E/G ratio of 1.65 and a beta of 1.15. Cellebrite DI has a 52-week low of $9.58 and a 52-week high of $19.98. The company’s 50 day simple moving average is $12.75 and its 200-day simple moving average is $13.42.

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.