Clal Insurance Enterprises Holdings Ltd Sells 153,095 Shares of Cellebrite DI Ltd. (NASDAQ:CLBT)

Key Points

• Clal Insurance Enterprises Holdings Ltd has reduced its stake in Cellebrite DI Ltd. by 4.4%, now holding approximately 3.34 million shares valued at $64.96 million.
• Cellebrite DI's stock has seen a recent performance decline, opening at $13.52, with a market cap of $3.24 billion and a 12-month trading range from $13.10 to $26.30.
• Despite analysts' mixed ratings, Cellebrite DI has a consensus rating of "Moderate Buy" with a price target of approximately $22.43.

Clal Insurance Enterprises Holdings Ltd decreased its holdings in shares of Cellebrite DI Ltd. (NASDAQ:CLBT - Free Report) by 4.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,343,014 shares of the company's stock after selling 153,095 shares during the quarter. Clal Insurance Enterprises Holdings Ltd owned approximately 1.40% of Cellebrite DI worth $64,955,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in CLBT. Axon Enterprise Inc. bought a new position in shares of Cellebrite DI in the 4th quarter valued at about $198,270,000. Invesco Ltd. increased its position in shares of Cellebrite DI by 122.1% in the first quarter. Invesco Ltd. now owns 3,296,079 shares of the company's stock valued at $64,043,000 after acquiring an additional 1,811,757 shares during the last quarter. Handelsbanken Fonder AB increased its position in shares of Cellebrite DI by 749.9% in the first quarter. Handelsbanken Fonder AB now owns 1,518,700 shares of the company's stock valued at $29,508,000 after acquiring an additional 1,340,000 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Cellebrite DI in the first quarter valued at about $22,428,000. Finally, Nuveen LLC acquired a new stake in shares of Cellebrite DI in the first quarter valued at about $15,031,000. Institutional investors own 45.88% of the company's stock.

Wall Street Analyst Weigh In

CLBT has been the topic of a number of recent research reports. Needham & Company LLC lowered their target price on Cellebrite DI from $24.00 to $18.00 and set a "buy" rating on the stock in a research report on Thursday. Wall Street Zen downgraded Cellebrite DI from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Finally, JPMorgan Chase & Co. lowered their target price on Cellebrite DI from $29.00 to $25.00 and set an "overweight" rating on the stock in a research report on Monday, May 12th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $21.57.

Cellebrite DI Stock Performance

NASDAQ:CLBT traded up $1.30 during mid-day trading on Thursday, hitting $15.29. The stock had a trading volume of 10,673,638 shares, compared to its average volume of 1,632,727. Cellebrite DI Ltd. has a twelve month low of $13.10 and a twelve month high of $26.30. The stock has a market cap of $3.66 billion, a price-to-earnings ratio of -15.93, a PEG ratio of 2.81 and a beta of 1.27. The company's 50 day simple moving average is $15.00 and its 200 day simple moving average is $17.88.

Cellebrite DI (NASDAQ:CLBT - Get Free Report) last issued its earnings results on Thursday, August 14th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.01. The business had revenue of $113.28 million during the quarter, compared to the consensus estimate of $112.33 million. Cellebrite DI had a negative net margin of 46.34% and a positive return on equity of 35.36%. Cellebrite DI's revenue was up 18.4% on a year-over-year basis. During the same period last year, the business posted $0.10 EPS. As a group, equities analysts forecast that Cellebrite DI Ltd. will post 0.3 earnings per share for the current year.

Cellebrite DI 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.