Cellebrite DI Ltd. (NASDAQ:CLBT) Shares Purchased by Handelsbanken Fonder AB

Handelsbanken Fonder AB increased its stake in shares of Cellebrite DI Ltd. (NASDAQ:CLBT - Free Report) by 749.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,518,700 shares of the company's stock after acquiring an additional 1,340,000 shares during the quarter. Handelsbanken Fonder AB owned about 0.63% of Cellebrite DI worth $29,508,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Axon Enterprise Inc. bought a new position in Cellebrite DI during the fourth quarter valued at $198,270,000. 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 last quarter. True Wind Capital Management L.P. lifted its position in Cellebrite DI by 18.2% during the fourth quarter. True Wind Capital Management L.P. now owns 13,861,007 shares of the company's stock valued at $305,358,000 after purchasing an additional 2,130,386 shares during the last quarter. Invesco Ltd. bought a new position in Cellebrite DI during the fourth quarter valued at $32,700,000. Finally, AQR Capital Management LLC bought a new position in Cellebrite DI during the fourth quarter valued at $16,205,000. Institutional investors own 45.88% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CLBT. Needham & Company LLC reissued a "buy" rating and issued a $24.00 target price on shares of Cellebrite DI in a research note on Friday, June 6th. Lake Street Capital increased their target price on shares of Cellebrite DI from $17.00 to $26.00 and gave the company a "buy" rating in a research note on Friday, February 14th. Finally, JPMorgan Chase & Co. reduced their target price on shares of 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 analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $22.43.

Cellebrite DI Stock Down 2.8%

Shares of NASDAQ:CLBT traded down $0.46 during trading on Friday, hitting $15.78. 1,338,342 shares of the stock traded hands, compared to its average volume of 1,475,929. The company has a market cap of $3.78 billion, a price-to-earnings ratio of -11.35, a P/E/G ratio of 4.27 and a beta of 1.32. The company has a fifty day moving average price of $18.14 and a two-hundred day moving average price of $19.95. Cellebrite DI Ltd. has a 52-week low of $11.47 and a 52-week high of $26.30.

Cellebrite DI (NASDAQ:CLBT - Get Free Report) last issued its quarterly 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 negative net margin of 70.54% and a positive return on equity of 58.70%. The company had revenue of $107.55 million during the quarter, compared to analyst estimates of $109.36 million. During the same quarter in the previous year, the firm earned $0.08 EPS. The firm's revenue was up 20.0% compared to the same quarter last year. On average, equities research analysts predict that Cellebrite DI Ltd. will post 0.3 EPS for the current fiscal 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.