Meritage Portfolio Management Buys 30,658 Shares of Cellebrite DI Ltd. (NASDAQ:CLBT)

Meritage Portfolio Management grew its position in shares of Cellebrite DI Ltd. (NASDAQ:CLBT - Free Report) by 102.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 60,559 shares of the company's stock after buying an additional 30,658 shares during the period. Meritage Portfolio Management's holdings in Cellebrite DI were worth $1,177,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CLBT. Axon Enterprise Inc. purchased a new stake in Cellebrite DI during the 4th quarter worth about $198,270,000. FMR LLC lifted its holdings in Cellebrite DI by 89.1% during the 4th quarter. FMR LLC now owns 10,621,344 shares of the company's stock worth $233,988,000 after purchasing an additional 5,004,587 shares in the last quarter. Invesco Ltd. purchased a new stake in Cellebrite DI during the 4th quarter worth about $32,700,000. Handelsbanken Fonder AB lifted its holdings in Cellebrite DI by 749.9% during the 1st quarter. Handelsbanken Fonder AB now owns 1,518,700 shares of the company's stock worth $29,508,000 after purchasing an additional 1,340,000 shares in the last quarter. Finally, AQR Capital Management LLC purchased a new stake in Cellebrite DI during the 4th quarter worth about $16,205,000. Hedge funds and other institutional investors own 45.88% of the company's stock.

Cellebrite DI Stock Down 1.3%

Shares of NASDAQ CLBT traded down $0.20 during trading hours on Monday, reaching $15.25. 808,180 shares of the stock traded hands, compared to its average volume of 1,467,153. The company has a market capitalization of $3.65 billion, a P/E ratio of -15.89, a price-to-earnings-growth ratio of 3.12 and a beta of 1.28. Cellebrite DI Ltd. has a 52-week low of $11.47 and a 52-week high of $26.30. The company's 50-day simple moving average is $17.11 and its two-hundred day simple moving average is $19.41.

Cellebrite DI (NASDAQ:CLBT - Get Free Report) last announced 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 company had revenue of $107.55 million for the quarter, compared to analysts' expectations of $109.36 million. Cellebrite DI had a positive return on equity of 35.36% and a negative net margin of 46.34%. Cellebrite DI's revenue for the quarter was up 20.0% compared to the same quarter last year. During the same period last year, the firm posted $0.08 EPS. As a group, sell-side analysts forecast that Cellebrite DI Ltd. will post 0.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have weighed in on the company. JPMorgan Chase & Co. lowered their price target on Cellebrite DI from $29.00 to $25.00 and set an "overweight" rating on the stock in a report on Monday, May 12th. Needham & Company LLC reaffirmed a "buy" rating and issued a $24.00 price target on shares of Cellebrite DI in a report on Friday, June 6th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $22.43.

Cellebrite DI Company 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.