Cellebrite DI Ltd. $CLBT Shares Sold by Apollon Wealth Management LLC

Key Points

• Apollon Wealth Management reduced its Cellebrite DI position by 39.4% in the third quarter, selling 89,946 shares and retaining 138,227 shares valued at approximately $1.56 million. Institutional investors collectively own 45.88% of CLBT.
• Company insiders sold 196,870 shares worth approximately $2.8 million over the last quarter, including sales by the CFO and CMO. Insiders currently own 5.70% of the company.
• Analysts maintain a generally positive outlook, with five Buy ratings and one Sell rating, producing a “Moderate Buy” consensus and a $16.70 average price target versus the stock’s recent $12.28 price.

Apollon Wealth Management LLC lowered its position in shares of Cellebrite DI Ltd. (NASDAQ:CLBT - Free Report) by 39.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 138,227 shares of the company's stock after selling 89,946 shares during the quarter. Apollon Wealth Management LLC owned 0.06% of Cellebrite DI worth $1,556,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Capelight Capital Asset Management LP bought a new stake in Cellebrite DI during the 3rd quarter valued at approximately $844,000. Parthenon LLC bought a new position in Cellebrite DI in the 3rd quarter worth approximately $837,000. Elevation Wealth Partners LLC boosted its stake in Cellebrite DI by 93.3% in the 3rd quarter. Elevation Wealth Partners LLC now owns 5,833 shares of the company's stock worth $66,000 after purchasing an additional 2,816 shares during the period. Tidal Investments LLC grew its holdings in Cellebrite DI by 12.5% during the 2nd quarter. Tidal Investments LLC now owns 114,506 shares of the company's stock valued at $1,672,000 after buying an additional 12,749 shares in the last quarter. Finally, Nine Ten Capital Management LLC grew its holdings in Cellebrite DI by 19.8% during the 2nd quarter. Nine Ten Capital Management LLC now owns 4,126,808 shares of the company's stock valued at $60,251,000 after buying an additional 682,933 shares in the last quarter. 45.88% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Cellebrite DI

In related news, CFO David Barter sold 12,134 shares of the company's stock in a transaction on Friday, October 16th. The stock was sold at an average price of $11.21, for a total transaction of $136,022.14. Following the completion of the sale, the chief financial officer directly owned 322,085 shares in the company, valued at $3,610,572.85. This represents a 3.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CMO David Gee sold 4,323 shares of the company's stock in a transaction on Monday, August 24th. The stock was sold at an average price of $11.36, for a total value of $49,109.28. Following the sale, the chief marketing officer owned 135,281 shares of the company's stock, valued at $1,536,792.16. This trade represents a 3.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 196,870 shares of company stock worth $2,797,143 over the last quarter. 5.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

CLBT has been the subject of a number of research analyst reports. Weiss Ratings lowered Cellebrite DI from a "sell (d+)" rating to a "sell (d)" rating in a research report on Thursday, August 27th. Lake Street Capital reduced their target price on Cellebrite DI from $21.00 to $15.00 and set a "buy" rating on the stock in a report on Friday, August 14th. Needham & Company LLC decreased their target price on Cellebrite DI from $15.00 to $12.50 and set a "buy" rating on the stock in a research report on Friday, August 14th. JPMorgan Chase & Co. dropped their price target on Cellebrite DI from $20.00 to $16.00 and set an "overweight" rating for the company in a research note on Friday, August 14th. Finally, DA Davidson reissued a "buy" rating and set a $15.00 price target on shares of Cellebrite DI in a research note on Tuesday, September 15th. Five research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $16.70.

Cellebrite DI Stock Up 3.0%

Shares of NASDAQ CLBT opened at $12.28 on Friday. The business has a fifty day simple moving average of $11.48 and a two-hundred day simple moving average of $13.47. The firm has a market cap of $3.06 billion, a PE ratio of 42.57, a price-to-earnings-growth ratio of 1.83 and a beta of 1.14. Cellebrite DI Ltd. has a twelve month low of $9.58 and a twelve month high of $19.98.

About Cellebrite DI

Cellebrite DI Ltd. NASDAQ: CLBT provides digital intelligence and digital forensics solutions that help organizations collect, preserve, analyze and manage data from mobile devices, computers, cloud environments and other digital sources. Its customers include law enforcement agencies, public safety organizations, government and intelligence bodies, military units, and corporate security and investigation teams.

The company's offerings include tools for accessing and extracting digital evidence, case and evidence management, and investigative analytics.

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