Harbor Capital Advisors Inc. Decreases Stock Holdings in Cellebrite DI Ltd. (NASDAQ:CLBT)

Harbor Capital Advisors Inc. decreased its stake in Cellebrite DI Ltd. (NASDAQ:CLBT - Free Report) by 22.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 122,054 shares of the company's stock after selling 35,617 shares during the period. Harbor Capital Advisors Inc. owned approximately 0.05% of Cellebrite DI worth $2,372,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CLBT. Van ECK Associates Corp acquired a new stake in shares of Cellebrite DI in the fourth quarter valued at about $639,000. Blue Trust Inc. acquired a new position in Cellebrite DI during the fourth quarter worth about $468,000. Strategic Advisors LLC raised its position in Cellebrite DI by 3.4% during the fourth quarter. Strategic Advisors LLC now owns 29,082 shares of the company's stock worth $641,000 after acquiring an additional 950 shares during the last quarter. Pembroke Management LTD raised its position in Cellebrite DI by 4.4% during the fourth quarter. Pembroke Management LTD now owns 1,992,432 shares of the company's stock worth $43,893,000 after acquiring an additional 84,087 shares during the last quarter. Finally, New York State Common Retirement Fund raised its position in Cellebrite DI by 2.6% during the fourth quarter. New York State Common Retirement Fund now owns 189,599 shares of the company's stock worth $4,177,000 after acquiring an additional 4,838 shares during the last quarter. Institutional investors and hedge funds own 45.88% of the company's stock.

Analysts Set New Price Targets

CLBT has been the subject of a number of research reports. Needham & Company LLC restated a "buy" rating and set a $24.00 target price on shares of Cellebrite DI in a research report on Friday, June 6th. JPMorgan Chase & Co. cut their target price on shares of Cellebrite DI from $29.00 to $25.00 and set an "overweight" rating for the company in a research report on Monday, May 12th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $22.43.

Cellebrite DI Stock Down 2.8%

Shares of NASDAQ:CLBT traded down $0.46 during trading on Friday, reaching $15.78. The stock had a trading volume of 1,338,342 shares, compared to its average volume of 1,475,929. The business has a fifty day moving average price of $18.14 and a 200-day moving average price of $19.95. The stock has a market cap of $3.78 billion, a P/E ratio of -11.35, a PEG ratio of 4.27 and a beta of 1.32. Cellebrite DI Ltd. has a fifty-two week low of $11.47 and a fifty-two week high of $26.30.

Cellebrite DI (NASDAQ:CLBT - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The company reported $0.10 earnings per share for the quarter, beating analysts' consensus estimates of $0.09 by $0.01. The business had revenue of $107.55 million during the quarter, compared to analyst estimates of $109.36 million. Cellebrite DI had a negative net margin of 70.54% and a positive return on equity of 58.70%. The company's revenue was up 20.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.08 earnings per share. As a group, equities analysts forecast that Cellebrite DI Ltd. will post 0.3 EPS 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.