Cellebrite DI Ltd. (NASDAQ:CLBT) Stock Now Rated "Moderate Buy" by Wall Street Brokerages

Key Points

• Cellebrite DI has a “Moderate Buy” consensus rating, with five analysts recommending the stock and one issuing a sell rating. The average 12-month price target is $16.70, though several firms recently lowered their targets.
• CLBT shares opened at $11.15, with a $2.78 billion market capitalization, a P/E ratio of 50.68, and a 12-month trading range of $9.58 to $19.98.
• Insiders sold shares worth approximately $2.8 million over the past 90 days, while institutional investors own 45.88% of the company and several major funds recently increased their positions.

Shares of Cellebrite DI Ltd. (NASDAQ:CLBT - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the six research firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $16.70.

A number of equities analysts have recently commented on CLBT shares. Needham & Company LLC reduced their target price on shares of Cellebrite DI from $15.00 to $12.50 and set a "buy" rating on the stock in a research report on Friday, August 14th. Lake Street Capital lowered their price target on Cellebrite DI from $21.00 to $15.00 and set a "buy" rating for the company in a report on Friday, August 14th. DA Davidson reissued a "buy" rating and issued a $15.00 price objective on shares of Cellebrite DI in a research note on Tuesday, September 15th. JPMorgan Chase & Co. dropped their price objective on Cellebrite DI from $20.00 to $16.00 and set an "overweight" rating on the stock in a research note on Friday, August 14th. Finally, Weiss Ratings downgraded Cellebrite DI from a "sell (d+)" rating to a "sell (d)" rating in a report on Thursday, August 27th.

Cellebrite DI Trading Up 1.1%

Shares of CLBT opened at $11.15 on Tuesday. The firm has a market capitalization of $2.78 billion, a P/E ratio of 50.68, a P/E/G ratio of 1.69 and a beta of 1.14. Cellebrite DI has a 12-month low of $9.58 and a 12-month high of $19.98. The firm has a fifty day moving average price of $11.53 and a 200-day moving average price of $13.08.

Insider Transactions at Cellebrite DI

In related news, CRO Marcus Jewell sold 12,562 shares of Cellebrite DI stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $11.24, for a total value of $141,196.88. Following the completion of the sale, the executive directly owned 427,128 shares in the company, valued at $4,800,918.72. The trade was a 2.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Thomas Hogan sold 139,713 shares of the company's stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $15.39, for a total transaction of $2,150,183.07. Following the completion of the sale, the chief executive officer directly owned 790,548 shares of the company's stock, valued at approximately $12,166,533.72. This trade represents a 15.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 196,870 shares of company stock worth $2,797,143. Corporate insiders own 5.70% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Nine Ten Capital Management LLC lifted its stake in shares of Cellebrite DI by 19.8% during the 2nd quarter. Nine Ten Capital Management LLC now owns 4,126,808 shares of the company's stock worth $60,251,000 after purchasing an additional 682,933 shares during the last quarter. Wellington Management Group LLP boosted its position in Cellebrite DI by 93.7% during the second quarter. Wellington Management Group LLP now owns 3,049,904 shares of the company's stock valued at $44,529,000 after purchasing an additional 1,475,579 shares in the last quarter. Renaissance Technologies LLC boosted its position in Cellebrite DI by 14.7% during the first quarter. Renaissance Technologies LLC now owns 2,860,639 shares of the company's stock valued at $39,420,000 after purchasing an additional 365,700 shares in the last quarter. Principal Financial Group Inc. boosted its position in Cellebrite DI by 33.9% during 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 in the last quarter. Finally, Meitav Investment House Ltd. grew its stake in Cellebrite DI by 34.4% in the first quarter. Meitav Investment House Ltd. now owns 1,954,846 shares of the company's stock valued at $26,938,000 after purchasing an additional 500,000 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 Ltd. is a digital intelligence company that develops technology for collecting, managing and analyzing digital evidence. Its solutions are designed to help law enforcement agencies, public safety organizations, government bodies and enterprises investigate activity involving mobile devices, computers, cloud services and other digital sources.

The company's product portfolio includes tools for mobile-device extraction and digital forensics, investigative analytics, evidence management and collaboration.

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