Cellebrite DI Ltd. (NASDAQ:CLBT) Stock Rated "Moderate Buy" by Sell-Side Analysts

Key Points

• Sell-side analysts give Cellebrite DI a “Moderate Buy” consensus: five analysts rate the stock a buy and one rates it a sell, with an average 12-month price target of $16.70.
• Several firms recently lowered their price targets, including Lake Street Capital to $15, Needham to $12.50 and JPMorgan to $16, while maintaining positive ratings.
• Insiders sold nearly $5.0 million of stock over the past 90 days, while institutional investors own 45.88% of shares. The stock opened at $11.37, near the lower end of its 52-week range of $9.58 to $19.98.

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

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

Insider Buying and Selling

In related news, CFO David Barter sold 41,734 shares of the stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $16.38, for a total transaction of $683,602.92. Following the sale, the chief financial officer directly owned 334,219 shares of the company's stock, valued at approximately $5,474,507.22. This represents a 11.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CRO Marcus Jewell sold 12,562 shares of the firm's stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $11.24, for a total transaction of $141,196.88. Following the sale, the executive owned 427,128 shares of the company's stock, valued at approximately $4,800,918.72. This represents a 2.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 329,658 shares of company stock worth $4,970,967 in the last 90 days. 5.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Capital International Investors bought a new position in Cellebrite DI during the 4th quarter valued at about $41,073,000. Weiss Asset Management LP grew its stake in shares of Cellebrite DI by 3,485.3% in the first quarter. Weiss Asset Management LP now owns 1,899,841 shares of the company's stock worth $26,180,000 after acquiring an additional 1,846,851 shares during the period. Wellington Management Group LLP raised its holdings in shares of 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 during the last quarter. Voss Capital LP raised its holdings in shares of Cellebrite DI by 18.9% during the fourth quarter. Voss Capital LP now owns 8,050,000 shares of the company's stock valued at $145,142,000 after purchasing an additional 1,277,300 shares during the last quarter. Finally, Progeny 3 Inc. bought a new position in Cellebrite DI during the first quarter valued at approximately $15,546,000. Institutional investors own 45.88% of the company's stock.

Cellebrite DI Price Performance

Shares of Cellebrite DI stock opened at $11.37 on Friday. Cellebrite DI has a 1 year low of $9.58 and a 1 year high of $19.98. The firm has a market cap of $2.84 billion, a price-to-earnings ratio of 51.68, a PEG ratio of 1.79 and a beta of 1.15. The company has a 50-day moving average of $12.85 and a 200 day moving average of $13.45.

Cellebrite DI Company Profile

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.

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