Point72 Asset Management L.P. Sells 89,785 Shares of Cellebrite DI Ltd. (NASDAQ:CLBT)

Point72 Asset Management L.P. lessened its holdings in Cellebrite DI Ltd. (NASDAQ:CLBT - Free Report) by 91.4% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,461 shares of the company's stock after selling 89,785 shares during the period. Point72 Asset Management L.P.'s holdings in Cellebrite DI were worth $186,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Gen Wealth Partners Inc purchased a new stake in Cellebrite DI during the fourth quarter valued at about $85,000. NewEdge Advisors LLC raised its position in Cellebrite DI by 600.7% during the fourth quarter. NewEdge Advisors LLC now owns 3,910 shares of the company's stock valued at $86,000 after purchasing an additional 3,352 shares in the last quarter. R Squared Ltd purchased a new stake in Cellebrite DI during the fourth quarter valued at about $100,000. Polen Capital Management LLC purchased a new stake in Cellebrite DI during the fourth quarter valued at about $222,000. Finally, Victory Capital Management Inc. purchased a new stake in Cellebrite DI during the fourth quarter valued at about $234,000. Hedge funds and other institutional investors own 45.88% of the company's stock.

Cellebrite DI Stock Performance

Shares of NASDAQ CLBT traded down $0.19 during trading hours on Wednesday, hitting $16.97. The company's stock had a trading volume of 1,141,956 shares, compared to its average volume of 1,460,252. The stock has a market cap of $4.06 billion, a price-to-earnings ratio of -12.21, a P/E/G ratio of 4.27 and a beta of 1.44. Cellebrite DI Ltd. has a 12 month low of $10.25 and a 12 month high of $26.30. The business has a 50-day simple moving average of $18.84 and a 200-day simple moving average of $20.17.

Cellebrite DI (NASDAQ:CLBT - Get Free Report) last posted its earnings results on Wednesday, May 14th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate 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 58.70% and a negative net margin of 70.54%. Cellebrite DI's quarterly revenue was up 20.0% on a year-over-year basis. During the same period last year, the firm earned $0.08 earnings per share. On average, equities research analysts forecast that Cellebrite DI Ltd. will post 0.3 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on CLBT. JPMorgan Chase & Co. decreased their price objective 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 decreased their price objective on Cellebrite DI from $28.00 to $24.00 and set a "buy" rating on the stock in a report on Wednesday, May 14th. Finally, Lake Street Capital lifted their price objective on Cellebrite DI from $17.00 to $26.00 and gave the stock a "buy" rating in a report on Friday, February 14th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price 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.