Envestnet Asset Management Inc. Takes $512,000 Position in Cellebrite DI Ltd. (NASDAQ:CLBT)

Key Points

• Envestnet Asset Management Inc. acquired a new stake in Cellebrite DI Ltd., purchasing 26,372 shares valued at approximately $512,000.
• Cellebrite DI's stock has experienced fluctuations, currently priced at $13.65, with a market cap of $3.27 billion and a 52-week trading range between $12.26 and $26.30.
• Analysts have a consensus rating of "Moderate Buy" for Cellebrite DI, with a price target averaging $22.43, reflecting mixed sentiment on the stock's future performance.

Envestnet Asset Management Inc. bought a new position in Cellebrite DI Ltd. (NASDAQ:CLBT - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 26,372 shares of the company's stock, valued at approximately $512,000.

Several other large investors also recently bought and sold shares of CLBT. FMR LLC lifted its position in Cellebrite DI by 89.1% during the fourth quarter. FMR LLC now owns 10,621,344 shares of the company's stock valued at $233,988,000 after purchasing an additional 5,004,587 shares during the period. Axon Enterprise Inc. purchased a new position in Cellebrite DI during the fourth quarter valued at $198,270,000. Voss Capital LP boosted its position in shares of Cellebrite DI by 1.2% in the fourth quarter. Voss Capital LP now owns 3,240,000 shares of the company's stock worth $71,377,000 after purchasing an additional 39,700 shares during the period. Two Sigma Advisers LP boosted its stake in Cellebrite DI by 35.0% in the 4th quarter. Two Sigma Advisers LP now owns 1,811,100 shares of the company's stock worth $39,899,000 after purchasing an additional 470,000 shares during the period. Finally, Renaissance Technologies LLC lifted its position in shares of Cellebrite DI by 7.7% in the fourth quarter. Renaissance Technologies LLC now owns 1,630,439 shares of the company's stock worth $35,919,000 after buying an additional 115,939 shares in the last quarter. 45.88% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CLBT has been the topic of several analyst reports. Wall Street Zen cut Cellebrite DI from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Needham & Company LLC restated a "buy" rating and set a $24.00 target price on shares of Cellebrite DI in a report on Friday, June 6th. Finally, JPMorgan Chase & Co. cut their price objective on shares of 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 equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $22.43.

Cellebrite DI Stock Performance

Shares of Cellebrite DI stock traded down $0.04 during trading on Thursday, hitting $13.82. 1,269,566 shares of the company's stock were exchanged, compared to its average volume of 1,567,222. The business has a 50-day simple moving average of $15.25 and a 200-day simple moving average of $18.20. Cellebrite DI Ltd. has a 52-week low of $12.76 and a 52-week high of $26.30. The stock has a market capitalization of $3.31 billion, a price-to-earnings ratio of -14.40, a PEG ratio of 2.75 and a beta of 1.27.

Cellebrite DI (NASDAQ:CLBT - Get Free Report) last issued its quarterly earnings data on Wednesday, May 14th. The company reported $0.10 earnings per share (EPS) for the quarter, beating 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 business had revenue of $107.55 million during the quarter, compared to analysts' expectations of $109.36 million. During the same quarter in the previous year, the firm posted $0.08 EPS. The company's revenue for the quarter was up 20.0% on a year-over-year basis. On average, equities analysts anticipate that Cellebrite DI Ltd. will post 0.3 earnings per share for the current fiscal year.

About Cellebrite DI

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.