Sei Investments Co. Increases Stock Holdings in Cellebrite DI Ltd. (NASDAQ:CLBT)

Sei Investments Co. lifted its position in Cellebrite DI Ltd. (NASDAQ:CLBT) by 16.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 141,644 shares of the company’s stock after purchasing an additional 20,478 shares during the quarter. Sei Investments Co. owned about 0.07% of Cellebrite DI worth $1,693,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Quadrature Capital Ltd purchased a new stake in shares of Cellebrite DI in the fourth quarter valued at about $2,222,000. Capstone Investment Advisors LLC purchased a new stake in shares of Cellebrite DI in the first quarter valued at about $870,000. Inspire Investing LLC purchased a new stake in shares of Cellebrite DI in the first quarter valued at about $862,000. Scalar Gauge Management LLC purchased a new stake in shares of Cellebrite DI in the fourth quarter valued at about $5,914,000. Finally, Acadian Asset Management LLC grew its holdings in shares of Cellebrite DI by 26.8% in 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 during the period. Hedge funds and other institutional investors own 45.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CLBT shares. TD Cowen upped their target price on shares of Cellebrite DI from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Lake Street Capital upped their target price on shares of Cellebrite DI from $13.50 to $17.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Bank of America upped their target price on shares of Cellebrite DI from $13.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Cellebrite DI from $15.00 to $18.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Finally, Needham & Company LLC upped their target price on shares of Cellebrite DI from $14.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Cellebrite DI currently has an average rating of “Buy” and a consensus target price of $18.57.

Cellebrite DI Stock Performance

Shares of CLBT opened at $17.31 on Friday. The stock has a market capitalization of $3.56 billion, a PE ratio of -29.84, a P/E/G ratio of 2.29 and a beta of 1.52. Cellebrite DI Ltd. has a 1 year low of $6.36 and a 1 year high of $17.82. The company’s 50-day simple moving average is $15.94 and its 200-day simple moving average is $13.04.

Cellebrite DI (NASDAQ:CLBT) last issued its quarterly earnings results on Thursday, August 15th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.02. The business had revenue of $95.70 million for the quarter, compared to analysts’ expectations of $91.94 million. Cellebrite DI had a negative net margin of 28.51% and a positive return on equity of 5,902.06%. The business’s quarterly revenue was up 24.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.05 earnings per share. On average, sell-side analysts predict that Cellebrite DI Ltd. will post 0.31 earnings per share for the current 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.