Cubist Systematic Strategies LLC Trims Stake in Cellebrite DI Ltd. (NASDAQ:CLBT)

Cubist Systematic Strategies LLC lessened its position in Cellebrite DI Ltd. (NASDAQ:CLBT - Free Report) by 11.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 550,602 shares of the company's stock after selling 68,205 shares during the quarter. Cubist Systematic Strategies LLC owned approximately 0.27% of Cellebrite DI worth $12,130,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in CLBT. Barclays PLC increased its stake in shares of Cellebrite DI by 29.1% during the third quarter. Barclays PLC now owns 263,657 shares of the company's stock valued at $4,439,000 after purchasing an additional 59,395 shares in the last quarter. Tidal Investments LLC raised its position in Cellebrite DI by 59.3% in the 3rd quarter. Tidal Investments LLC now owns 104,478 shares of the company's stock worth $1,759,000 after buying an additional 38,887 shares during the last quarter. Principal Financial Group Inc. bought a new position in Cellebrite DI during the third quarter valued at approximately $23,402,000. JPMorgan Chase & Co. boosted its stake in shares of Cellebrite DI by 21.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 427,655 shares of the company's stock worth $7,202,000 after buying an additional 75,092 shares during the last quarter. Finally, Harbor Capital Advisors Inc. increased its position in Cellebrite DI by 65.4% during the fourth quarter. Harbor Capital Advisors Inc. now owns 157,671 shares of the company's stock valued at $3,473,000 after acquiring an additional 62,320 shares during the last quarter. 45.88% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Cellebrite DI Price Performance

Shares of CLBT stock traded down $0.21 on Monday, hitting $19.63. 414,904 shares of the stock traded hands, compared to its average volume of 1,426,117. Cellebrite DI Ltd. has a 52 week low of $10.25 and a 52 week high of $26.30. The firm has a 50 day simple moving average of $18.92 and a two-hundred day simple moving average of $20.25. The firm has a market cap of $4.70 billion, a price-to-earnings ratio of -14.12, a PEG ratio of 4.27 and a beta of 1.44.

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