Renaissance Technologies LLC Buys 365,700 Shares of Cellebrite DI Ltd. $CLBT

Key Points

• Renaissance Technologies increased its Cellebrite DI stake by 14.7% in the first quarter, buying 365,700 shares and bringing its holdings to 2.86 million shares worth approximately $39.4 million. Institutional investors collectively own 45.88% of the company.
• Cellebrite DI shares opened at $14.64, up 3.0%, with a market capitalization of $3.65 billion. The stock trades between a 12-month range of $11.02 and $19.98.
• Analysts maintain a generally positive outlook, with five Buy ratings and one Hold rating producing a “Moderate Buy” consensus and an average price target of $21.40. However, company insiders sold 158,191 shares worth about $2.48 million over the past 90 days.

Renaissance Technologies LLC lifted its stake in shares of Cellebrite DI Ltd. (NASDAQ:CLBT - Free Report) by 14.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,860,639 shares of the company's stock after purchasing an additional 365,700 shares during the period. Renaissance Technologies LLC owned approximately 1.15% of Cellebrite DI worth $39,420,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of CLBT. Siren L.L.C. raised its position in Cellebrite DI by 107.7% in the 1st quarter. Siren L.L.C. now owns 311,544 shares of the company's stock worth $4,293,000 after purchasing an additional 161,544 shares during the last quarter. State of Wyoming bought a new position in Cellebrite DI in the 1st quarter valued at $378,000. First Trust Advisors LP boosted its position in Cellebrite DI by 49.1% in the 1st quarter. First Trust Advisors LP now owns 136,409 shares of the company's stock valued at $1,880,000 after buying an additional 44,912 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Cellebrite DI by 59.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,456 shares of the company's stock valued at $103,000 after buying an additional 2,785 shares during the period. Finally, Roubaix Capital LLC increased its stake in shares of Cellebrite DI by 108.1% in the 1st quarter. Roubaix Capital LLC now owns 303,215 shares of the company's stock valued at $4,178,000 after buying an additional 157,536 shares during the period. 45.88% of the stock is owned by institutional investors.

Cellebrite DI Stock Up 3.0%

Shares of Cellebrite DI stock opened at $14.64 on Tuesday. The business has a fifty day simple moving average of $14.21 and a 200 day simple moving average of $14.26. The stock has a market cap of $3.65 billion, a PE ratio of 52.29, a price-to-earnings-growth ratio of 1.76 and a beta of 1.17. Cellebrite DI Ltd. has a 12 month low of $11.02 and a 12 month high of $19.98.

Analyst Ratings Changes

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

Insider Transactions at Cellebrite DI

In related news, CRO Marcus Jewell sold 12,658 shares of Cellebrite DI stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $12.77, for a total transaction of $161,642.66. Following the transaction, the executive owned 440,101 shares of the company's stock, valued at $5,620,089.77. This trade represents a 2.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Thomas E. Hogan sold 103,188 shares of the business's stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $15.76, for a total transaction of $1,626,242.88. Following the transaction, the chief executive officer owned 590,777 shares of the company's stock, valued at approximately $9,310,645.52. This represents a 14.87% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 158,191 shares of company stock worth $2,479,438. 5.70% of the stock is currently owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.