State Street Corp Raises Position in Cellebrite DI Ltd. (NASDAQ:CLBT)

State Street Corp raised its position in shares of Cellebrite DI Ltd. (NASDAQ:CLBT) by 7.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 443,700 shares of the company’s stock after acquiring an additional 30,052 shares during the quarter. State Street Corp owned approximately 0.22% of Cellebrite DI worth $7,472,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Concurrent Investment Advisors LLC purchased a new position in Cellebrite DI in the 2nd quarter valued at $835,000. nVerses Capital LLC purchased a new stake in Cellebrite DI during the 2nd quarter valued at about $103,000. Pembroke Management LTD raised its holdings in Cellebrite DI by 104.9% in the 2nd quarter. Pembroke Management LTD now owns 1,535,726 shares of the company’s stock valued at $18,352,000 after acquiring an additional 786,310 shares during the last quarter. TD Asset Management Inc purchased a new position in Cellebrite DI in the 2nd quarter worth approximately $121,000. Finally, Y.D. More Investments Ltd acquired a new position in shares of Cellebrite DI during the 2nd quarter worth approximately $347,000. Hedge funds and other institutional investors own 45.88% of the company’s stock.

Cellebrite DI Price Performance

Shares of CLBT opened at $22.20 on Friday. The firm has a 50-day simple moving average of $19.65 and a two-hundred day simple moving average of $16.51. The stock has a market cap of $4.57 billion, a PE ratio of -14.32, a P/E/G ratio of 2.71 and a beta of 1.51. Cellebrite DI Ltd. has a 1-year low of $7.91 and a 1-year high of $22.91.

Cellebrite DI (NASDAQ:CLBT) last posted its earnings results on Wednesday, November 6th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.05. The firm had revenue of $106.90 million during the quarter, compared to the consensus estimate of $102.06 million. Cellebrite DI had a negative net margin of 82.28% and a positive return on equity of 122.59%. The firm’s revenue for the quarter was up 27.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.09 EPS. As a group, sell-side analysts expect that Cellebrite DI Ltd. will post 0.32 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. lifted their price objective on Cellebrite DI from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. TD Cowen upped their price objective on shares of Cellebrite DI from $20.00 to $23.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Craig Hallum boosted their target price on shares of Cellebrite DI from $23.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Needham & Company LLC raised their price target on shares of Cellebrite DI from $17.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $20.57.

About Cellebrite DI

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.