Cellebrite DI Ltd. $CLBT Stock: Redmond Asset Management LLC Cuts Holdings

Key Points

• Redmond Asset Management cut its Cellebrite DI stake by 44.3% in the third quarter, selling 88,636 shares and retaining 111,567 shares valued at approximately $1.26 million.
• Institutional ownership remains significant at 45.88%, with several investors—including Wellington Management, Bank of New York Mellon, and Nine Ten Capital—substantially increasing their positions.
• CLBT traded at $11.92, below its 52-week high of $19.98. Analysts maintain a “Moderate Buy” consensus with a $16.70 price target, although multiple firms recently reduced their targets.

Redmond Asset Management LLC trimmed its position in Cellebrite DI Ltd. (NASDAQ:CLBT - Free Report) by 44.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 111,567 shares of the company's stock after selling 88,636 shares during the quarter. Redmond Asset Management LLC's holdings in Cellebrite DI were worth $1,256,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in CLBT. Weiss Asset Management LP raised its holdings in shares of Cellebrite DI by 3,485.3% during the first quarter. Weiss Asset Management LP now owns 1,899,841 shares of the company's stock valued at $26,180,000 after acquiring an additional 1,846,851 shares during the period. Wellington Management Group LLP boosted its stake in Cellebrite DI by 93.7% in the 2nd quarter. Wellington Management Group LLP now owns 3,049,904 shares of the company's stock worth $44,529,000 after purchasing an additional 1,475,579 shares during the period. Progeny 3 Inc. acquired a new position in Cellebrite DI in the 1st quarter worth approximately $15,546,000. Bank of New York Mellon Corp grew its position in Cellebrite DI by 107.0% during the 1st quarter. Bank of New York Mellon Corp now owns 1,333,563 shares of the company's stock worth $18,376,000 after purchasing an additional 689,367 shares in the last quarter. Finally, Nine Ten Capital Management LLC grew its position 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 worth $60,251,000 after purchasing an additional 682,933 shares in the last quarter. 45.88% of the stock is owned by hedge funds and other institutional investors.

Cellebrite DI Stock Performance

CLBT stock opened at $11.92 on Thursday. The stock has a market cap of $2.97 billion, a P/E ratio of 54.18, a P/E/G ratio of 1.85 and a beta of 1.14. The firm has a 50 day simple moving average of $11.46 and a 200 day simple moving average of $13.50. Cellebrite DI Ltd. has a 52 week low of $9.58 and a 52 week high of $19.98.

Insider Activity at Cellebrite DI

In other Cellebrite DI news, CRO Marcus Jewell sold 12,562 shares of Cellebrite DI stock in a transaction on Friday, August 21st. The shares were sold at an average price of $11.24, for a total transaction of $141,196.88. Following the completion of the sale, the executive owned 427,128 shares of the company's stock, valued at $4,800,918.72. This trade represents a 2.86% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CMO David Gee sold 4,323 shares of the business's stock in a transaction on Monday, August 24th. The shares were sold at an average price of $11.36, for a total transaction of $49,109.28. Following the transaction, the chief marketing officer owned 135,281 shares in the company, valued at approximately $1,536,792.16. This represents a 3.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 196,870 shares of company stock worth $2,797,143 in the last 90 days. 5.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

Cellebrite DI Company Profile

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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