Greenhaven Road Investment Management L.P. Has $30.55 Million Stock Position in Cellebrite DI Ltd. (NASDAQ:CLBT)

Greenhaven Road Investment Management L.P. cut its holdings in Cellebrite DI Ltd. (NASDAQ:CLBT - Free Report) by 20.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,572,093 shares of the company's stock after selling 403,448 shares during the period. Cellebrite DI comprises 12.4% of Greenhaven Road Investment Management L.P.'s holdings, making the stock its 2nd largest holding. Greenhaven Road Investment Management L.P. owned approximately 0.66% of Cellebrite DI worth $30,546,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Catalyst Capital Advisors LLC purchased a new position in shares of Cellebrite DI during the first quarter valued at approximately $51,000. Gen Wealth Partners Inc bought a new stake in Cellebrite DI in the fourth quarter valued at $85,000. NewEdge Advisors LLC boosted its stake in shares of Cellebrite DI by 600.7% in the 4th 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. bought a new position in Cellebrite DI in the fourth quarter valued at approximately $234,000. Finally, Sigma Planning Corp bought a new position in shares of Cellebrite DI in the 1st quarter valued at $233,000. Hedge funds and other institutional investors own 45.88% of the company's stock.

Analysts Set New Price Targets

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

Cellebrite DI Price Performance

Shares of CLBT stock traded down $0.18 during trading hours on Monday, reaching $14.20. 1,421,510 shares of the company traded hands, compared to its average volume of 1,464,741. The firm has a 50-day moving average price of $16.21 and a 200 day moving average price of $18.94. The company has a market cap of $3.40 billion, a P/E 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 released its earnings results on Wednesday, May 14th. The company reported $0.10 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $109.36 million. During the same period in the previous year, the firm posted $0.08 EPS. Cellebrite DI's revenue for the quarter was up 20.0% on a year-over-year basis. Sell-side analysts predict that Cellebrite DI Ltd. will post 0.3 EPS for the current 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.