Axon Enterprise Inc. Cuts Position in Cellebrite DI Ltd. $CLBT

Key Points

• Axon Enterprise reduced its stake in Cellebrite DI by 13.2% in the first quarter, selling 199,328 shares and leaving it with 1.31 million shares worth about $18.1 million. Cellebrite remains Axon’s largest holding and accounts for nearly all of its portfolio.
• Insider selling has been notable, with CFO David Barter and CEO Thomas E. Hogan both selling large blocks of shares in July. In the last quarter, insiders collectively sold 158,191 shares valued at about $2.48 million.
• Analysts remain generally constructive on CLBT despite some mixed changes to targets, with five Buy ratings and one Hold. The stock was trading around $14.22, near its 50-day and 200-day moving averages, and analysts’ average price target is $21.40.

Axon Enterprise Inc. lowered its holdings in shares of Cellebrite DI Ltd. (NASDAQ:CLBT - Free Report) by 13.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,310,013 shares of the company's stock after selling 199,328 shares during the period. Cellebrite DI makes up about 100.0% of Axon Enterprise Inc.'s holdings, making the stock its biggest position. Axon Enterprise Inc. owned 0.53% of Cellebrite DI worth $18,052,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Towarzystwo Funduszy Inwestycyjnych PZU SA grew its position in shares of Cellebrite DI by 81.0% during the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 1,900 shares of the company's stock worth $34,000 after buying an additional 850 shares during the period. Advisory Services Network LLC bought a new stake in Cellebrite DI in the third quarter valued at $40,000. CWM LLC increased its stake in Cellebrite DI by 57.0% in the fourth quarter. CWM LLC now owns 2,449 shares of the company's stock valued at $44,000 after purchasing an additional 889 shares in the last quarter. First Horizon Corp increased its stake in Cellebrite DI by 421.8% in the fourth quarter. First Horizon Corp now owns 2,891 shares of the company's stock valued at $52,000 after purchasing an additional 2,337 shares in the last quarter. Finally, Vestcor Inc acquired a new position in shares of Cellebrite DI during the third quarter valued at about $70,000. 45.88% of the stock is currently owned by institutional investors.

Insider Activity at Cellebrite DI

In related news, CFO David Barter sold 41,734 shares of the company's stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $16.38, for a total transaction of $683,602.92. Following the completion of the sale, the chief financial officer owned 334,219 shares in the company, valued at approximately $5,474,507.22. This represents a 11.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Thomas E. Hogan sold 103,188 shares of the stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $15.76, for a total value of $1,626,242.88. Following the completion of the sale, the chief executive officer directly owned 590,777 shares of the company's stock, valued at $9,310,645.52. The trade was a 14.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 158,191 shares of company stock valued at $2,479,438. 5.70% of the stock is owned by corporate insiders.

Cellebrite DI Trading Up 1.1%

Cellebrite DI stock opened at $14.22 on Friday. The firm has a market capitalization of $3.55 billion, a price-to-earnings ratio of 50.79, a price-to-earnings-growth ratio of 1.76 and a beta of 1.17. The firm's fifty day moving average price is $14.19 and its two-hundred day moving average price is $14.31. Cellebrite DI Ltd. has a 1-year low of $11.02 and a 1-year high of $19.98.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CLBT. Weiss Ratings raised shares of Cellebrite DI from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday, May 18th. Needham & Company LLC decreased their target price on Cellebrite DI from $18.00 to $15.00 and set a "buy" rating for the company in a research report on Friday, May 15th. Finally, DA Davidson began coverage on Cellebrite DI in a research note on Wednesday, May 27th. They set a "buy" rating and a $20.00 price target on the stock. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $21.40.

About Cellebrite DI

Cellebrite DI is a global provider of digital intelligence and forensics solutions that enable law enforcement agencies, government bodies and enterprises to extract, analyze and act on data from mobile devices, cloud services and digital sources. The company's technology is designed to accelerate investigations, support evidence-based decision-making and enhance security operations by delivering actionable intelligence in a secure, scalable platform.

The company's flagship offerings include the Universal Forensic Extraction Device (UFED) series for data acquisition and decoding, Physical Analyzer for advanced data parsing and visualization, and Pathfinder for case-driven investigation workflows.

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