Bank of New York Mellon Corp Invests $22.43 Million in Cellebrite DI Ltd. (NASDAQ:CLBT)

Bank of New York Mellon Corp purchased a new position in Cellebrite DI Ltd. (NASDAQ:CLBT - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,154,303 shares of the company's stock, valued at approximately $22,428,000. Bank of New York Mellon Corp owned 0.48% of Cellebrite DI at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Catalyst Capital Advisors LLC acquired a new position in shares of Cellebrite DI during the first quarter valued at approximately $51,000. Gen Wealth Partners Inc acquired a new stake in shares of Cellebrite DI in the fourth quarter valued at approximately $85,000. NewEdge Advisors LLC increased its holdings in shares of Cellebrite DI by 600.7% in the fourth quarter. NewEdge Advisors LLC now owns 3,910 shares of the company's stock valued at $86,000 after purchasing an additional 3,352 shares during the last quarter. Victory Capital Management Inc. acquired a new stake in shares of Cellebrite DI in the fourth quarter valued at approximately $234,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Cellebrite DI in the first quarter valued at approximately $269,000. 45.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. cut their target price on Cellebrite DI from $29.00 to $25.00 and set an "overweight" rating for the company in a research note on Monday, May 12th. Needham & Company LLC restated a "buy" rating and set a $24.00 price target on shares of Cellebrite DI in a research report on Friday, June 6th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Cellebrite DI presently has a consensus rating of "Buy" and an average price target of $22.43.

Cellebrite DI Trading Down 1.3%

Shares of NASDAQ:CLBT traded down $0.18 during trading on Monday, hitting $14.20. 1,421,510 shares of the stock were exchanged, compared to its average volume of 1,464,741. The company has a fifty day moving average price of $16.21 and a two-hundred day moving average price of $18.94. The company has a market cap of $3.40 billion, a PE ratio of -14.79, a P/E/G ratio of 2.90 and a beta of 1.28. Cellebrite DI Ltd. has a 12-month low of $11.90 and a 12-month high of $26.30.

Cellebrite DI (NASDAQ:CLBT - Get Free Report) last posted its earnings results on Wednesday, May 14th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.09 by $0.01. Cellebrite DI had a positive return on equity of 35.36% and a negative net margin of 46.34%. The firm had revenue of $107.55 million for the quarter, compared to analyst estimates of $109.36 million. During the same quarter in the prior year, the company earned $0.08 EPS. Cellebrite DI's revenue was up 20.0% on a year-over-year basis. Equities research analysts anticipate that Cellebrite DI Ltd. will post 0.3 earnings per share for the current fiscal year.

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.