State of Tennessee Department of Treasury Increases Stock Position in Cellebrite DI Ltd. (NASDAQ:CLBT)

State of Tennessee Department of Treasury increased its stake in shares of Cellebrite DI Ltd. (NASDAQ:CLBT - Free Report) by 7.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 180,175 shares of the company's stock after purchasing an additional 12,755 shares during the quarter. State of Tennessee Department of Treasury owned about 0.09% of Cellebrite DI worth $3,969,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. JPMorgan Chase & Co. boosted its position in shares of Cellebrite DI by 21.3% during the third quarter. JPMorgan Chase & Co. now owns 427,655 shares of the company's stock worth $7,202,000 after purchasing an additional 75,092 shares in the last quarter. Harbor Capital Advisors Inc. boosted its position in shares of Cellebrite DI by 65.4% during the fourth quarter. Harbor Capital Advisors Inc. now owns 157,671 shares of the company's stock worth $3,473,000 after purchasing an additional 62,320 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Cellebrite DI during the fourth quarter worth $9,995,000. State Street Corp raised its holdings in shares of Cellebrite DI by 7.3% during the third quarter. State Street Corp now owns 443,700 shares of the company's stock worth $7,472,000 after acquiring an additional 30,052 shares during the period. Finally, Teacher Retirement System of Texas acquired a new stake in shares of Cellebrite DI during the fourth quarter worth $442,000. 45.88% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on CLBT. Lake Street Capital upped their price objective on Cellebrite DI from $17.00 to $26.00 and gave the company a "buy" rating in a research note on Friday, February 14th. Needham & Company LLC reissued a "buy" rating and set a $28.00 price target on shares of Cellebrite DI in a research report on Wednesday, April 2nd. Finally, JPMorgan Chase & Co. increased their price target on Cellebrite DI from $24.00 to $28.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 11th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $23.43.

Cellebrite DI Price Performance

Shares of Cellebrite DI stock traded up $0.13 during trading hours on Thursday, hitting $19.92. 254,155 shares of the company's stock traded hands, compared to its average volume of 1,410,853. Cellebrite DI Ltd. has a 12-month low of $10.25 and a 12-month high of $26.30. The stock has a market capitalization of $4.77 billion, a price-to-earnings ratio of -14.36, a PEG ratio of 4.27 and a beta of 1.44. The company has a fifty day simple moving average of $18.77 and a 200-day simple moving average of $20.15.

Cellebrite DI (NASDAQ:CLBT - Get Free Report) last posted its earnings results on Thursday, February 13th. The company reported $0.07 earnings per share for the quarter, missing analysts' consensus estimates of $0.10 by ($0.03). Cellebrite DI had a negative net margin of 70.54% and a positive return on equity of 58.70%. On average, analysts forecast that Cellebrite DI Ltd. will post 0.3 EPS for the current fiscal year.

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.