Lazard Asset Management LLC Makes New Investment in Cellebrite DI Ltd. $CLBT

Key Points

• Lazard Asset Management acquired 154,863 Cellebrite DI shares worth approximately $2.13 million, giving it a 0.06% stake. Institutional investors and hedge funds collectively own 45.88% of the company.
• Cellebrite’s CEO and CFO sold a combined 144,922 shares in July, while insiders sold 158,191 shares worth about $2.48 million over the past 90 days.
• CLBT opened at $14.75, compared with a 52-week range of $11.02 to $19.98. Analysts maintain a “Moderate Buy” consensus with an average price target of $21.40.

Lazard Asset Management LLC bought a new stake in Cellebrite DI Ltd. (NASDAQ:CLBT - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm bought 154,863 shares of the company's stock, valued at approximately $2,134,000. Lazard Asset Management LLC owned 0.06% of Cellebrite DI as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cooper Creek Partners Management LLC acquired a new stake in shares of Cellebrite DI during the 3rd quarter worth approximately $55,999,000. Capital International Investors bought a new position in Cellebrite DI in the fourth quarter valued at approximately $41,073,000. Invesco Ltd. raised its position in Cellebrite DI by 58.6% during the third quarter. Invesco Ltd. now owns 5,560,196 shares of the company's stock valued at $103,030,000 after purchasing an additional 2,054,644 shares in the last quarter. Weiss Asset Management LP lifted its stake in Cellebrite DI by 3,485.3% during the first quarter. Weiss Asset Management LP now owns 1,899,841 shares of the company's stock worth $26,180,000 after purchasing an additional 1,846,851 shares during the last quarter. Finally, Artisan Partners Limited Partnership bought a new stake in Cellebrite DI during the fourth quarter worth $25,871,000. 45.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Thomas E. Hogan sold 103,188 shares of the firm's stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $15.76, for a total transaction of $1,626,242.88. Following the sale, the chief executive officer owned 590,777 shares of the company's stock, valued at $9,310,645.52. This trade represents a 14.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO David Barter sold 41,734 shares of the business's stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $16.38, for a total value of $683,602.92. Following the sale, the chief financial officer owned 334,219 shares in the company, valued at $5,474,507.22. This represents a 11.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 158,191 shares of company stock worth $2,479,438. Insiders own 5.70% of the company's stock.

Cellebrite DI Stock Performance

NASDAQ CLBT opened at $14.75 on Monday. The firm's fifty day moving average price is $14.33 and its two-hundred day moving average price is $14.15. The stock has a market cap of $3.68 billion, a PE ratio of 52.68, a PEG ratio of 1.83 and a beta of 1.18. Cellebrite DI Ltd. has a fifty-two week low of $11.02 and a fifty-two week high of $19.98.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. DA Davidson began coverage on Cellebrite DI in a research note on Wednesday, May 27th. They issued a "buy" rating and a $20.00 price target on the stock. Weiss Ratings upgraded Cellebrite DI from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday, May 18th. Finally, Needham & Company LLC reduced their price objective on Cellebrite DI from $18.00 to $15.00 and set a "buy" rating on the stock in a research note on Friday, May 15th. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Cellebrite DI presently has an average rating of "Moderate Buy" and a consensus target price of $21.40.

Cellebrite DI Company Profile

Cellebrite DI is a global provider of digital intelligence and forensics solutions that enable law enforcement agencies, government bodies and enterprises to extract, analyze and act on data from mobile devices, cloud services and digital sources. The company's technology is designed to accelerate investigations, support evidence-based decision-making and enhance security operations by delivering actionable intelligence in a secure, scalable platform.

The company's flagship offerings include the Universal Forensic Extraction Device (UFED) series for data acquisition and decoding, Physical Analyzer for advanced data parsing and visualization, and Pathfinder for case-driven investigation workflows.

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