Bank of America Corp DE Acquires 165,116 Shares of Cellebrite DI Ltd. (NASDAQ:CLBT)

Bank of America Corp DE raised its position in shares of Cellebrite DI Ltd. (NASDAQ:CLBT - Free Report) by 32.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 680,375 shares of the company's stock after buying an additional 165,116 shares during the period. Bank of America Corp DE owned about 0.33% of Cellebrite DI worth $14,989,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CLBT. Barclays PLC boosted its position in Cellebrite DI by 29.1% during the 3rd quarter. Barclays PLC now owns 263,657 shares of the company's stock valued at $4,439,000 after buying an additional 59,395 shares during the period. SG Americas Securities LLC boosted its position in Cellebrite DI by 2,244.2% during the 4th quarter. SG Americas Securities LLC now owns 209,529 shares of the company's stock valued at $4,616,000 after buying an additional 200,591 shares during the period. Janney Montgomery Scott LLC boosted its position in Cellebrite DI by 30.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 66,487 shares of the company's stock valued at $1,465,000 after buying an additional 15,332 shares during the period. Juncture Wealth Strategies LLC boosted its position in Cellebrite DI by 0.8% during the 4th quarter. Juncture Wealth Strategies LLC now owns 60,003 shares of the company's stock valued at $1,322,000 after buying an additional 505 shares during the period. Finally, Blue Trust Inc. bought a new position in Cellebrite DI in the 4th quarter worth $466,000. Hedge funds and other institutional investors own 45.88% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on CLBT. Lake Street Capital upped their price objective on shares of Cellebrite DI from $17.00 to $26.00 and gave the stock a "buy" rating in a report on Friday, February 14th. JPMorgan Chase & Co. decreased their price objective on shares of Cellebrite DI from $29.00 to $25.00 and set an "overweight" rating for the company in a report on Monday, May 12th. Finally, Needham & Company LLC decreased their price objective on shares of Cellebrite DI from $28.00 to $24.00 and set a "buy" rating for the company in a report on Wednesday, May 14th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Cellebrite DI presently has a consensus rating of "Buy" and an average target price of $22.43.

Cellebrite DI Stock Performance

Shares of Cellebrite DI stock traded up $0.50 during trading on Friday, hitting $17.21. The company's stock had a trading volume of 1,554,679 shares, compared to its average volume of 1,462,127. The company has a fifty day simple moving average of $18.91 and a two-hundred day simple moving average of $20.19. The company has a market capitalization of $4.12 billion, a PE ratio of -12.38, a P/E/G ratio of 4.27 and a beta of 1.44. Cellebrite DI Ltd. has a 52 week low of $10.25 and a 52 week high of $26.30.

Cellebrite DI (NASDAQ:CLBT - Get Free Report) last announced its quarterly earnings data on Wednesday, May 14th. The company reported $0.10 earnings per share for the quarter, topping analysts' consensus estimates of $0.09 by $0.01. Cellebrite DI had a negative net margin of 70.54% and a positive return on equity of 58.70%. The business had revenue of $107.55 million for the quarter, compared to analysts' expectations of $109.36 million. During the same quarter in the prior year, the company earned $0.08 earnings per share. The business's revenue was up 20.0% compared to the same quarter last year. As a group, analysts predict 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.