Entropy Technologies LP Takes Position in Cellebrite DI Ltd. (NASDAQ:CLBT)

Key Points

• Entropy Technologies LP has acquired 33,951 shares of Cellebrite DI Ltd., valued at approximately $660,000, indicating growing institutional interest in the company.
• Analysts have mixed ratings on Cellebrite DI, with one firm lowering its price target from $29.00 to $25.00, while others maintain a "buy" rating with an average price target of $22.43.
• Cellebrite DI reported a 20% year-over-year revenue increase, with a revenue of $107.55 million for the last quarter, exceeding some analysts' expectations.

Entropy Technologies LP purchased a new position in Cellebrite DI Ltd. (NASDAQ:CLBT - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 33,951 shares of the company's stock, valued at approximately $660,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Axon Enterprise Inc. purchased a new stake in shares of Cellebrite DI during the fourth quarter worth about $198,270,000. Invesco Ltd. grew its position in shares of Cellebrite DI by 122.1% during the first quarter. Invesco Ltd. now owns 3,296,079 shares of the company's stock worth $64,043,000 after purchasing an additional 1,811,757 shares in the last quarter. Voss Capital LP grew its holdings in Cellebrite DI by 1.2% during the 4th quarter. Voss Capital LP now owns 3,240,000 shares of the company's stock valued at $71,377,000 after buying an additional 39,700 shares in the last quarter. Two Sigma Advisers LP grew its holdings in Cellebrite DI by 35.0% during the 4th quarter. Two Sigma Advisers LP now owns 1,811,100 shares of the company's stock valued at $39,899,000 after buying an additional 470,000 shares in the last quarter. Finally, Handelsbanken Fonder AB grew its holdings in Cellebrite DI by 749.9% during the 1st quarter. Handelsbanken Fonder AB now owns 1,518,700 shares of the company's stock valued at $29,508,000 after buying an additional 1,340,000 shares in the last quarter. Hedge funds and other institutional investors own 45.88% of the company's stock.

Cellebrite DI Stock Performance

CLBT stock traded up $0.31 on Friday, hitting $15.60. 6,048,418 shares of the company's stock were exchanged, compared to its average volume of 1,999,717. Cellebrite DI Ltd. has a 12-month low of $13.10 and a 12-month high of $26.30. The firm has a 50 day moving average price of $14.98 and a two-hundred day moving average price of $17.78. The stock has a market cap of $3.74 billion, a P/E ratio of -20.53, a price-to-earnings-growth ratio of 3.15 and a beta of 1.27.

Cellebrite DI (NASDAQ:CLBT - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.01. The business had revenue of $113.28 million during the quarter, compared to analysts' expectations of $112.33 million. Cellebrite DI had a positive return on equity of 25.28% and a negative net margin of 34.56%. The company's revenue for the quarter was up 18.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.10 EPS. Sell-side analysts expect that Cellebrite DI Ltd. will post 0.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on CLBT. Needham & Company LLC cut their price target on Cellebrite DI from $24.00 to $18.00 and set a "buy" rating for the company in a report on Thursday. JPMorgan Chase & Co. cut their price target on Cellebrite DI from $29.00 to $25.00 and set an "overweight" rating for the company in a report on Monday, May 12th. Lake Street Capital cut their price target on Cellebrite DI from $24.00 to $22.00 and set a "buy" rating for the company in a report on Friday. Finally, Wall Street Zen upgraded Cellebrite DI from a "hold" rating to a "buy" rating in a report on Saturday. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $22.40.

Cellebrite DI Company Profile

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.