Insider Selling: Cellebrite DI (NASDAQ:CLBT) CMO Sells 4,323 Shares of Stock

Key Points

• Cellebrite DI CMO David Nicholas Gee sold 4,323 shares at an average price of $11.36, generating $49,109.28. The Rule 10b5-1 transaction reduced his holdings by 3.1%, leaving him with 135,281 shares.
• CLBT shares fell 1.7% to $11.29, well below their 50-day moving average of $14.24 and 200-day moving average of $13.83. The stock has traded between $9.58 and $19.98 over the past year.
• Analysts maintain a generally positive view, with five Buy ratings and one Sell rating and an average price target of $16.70, despite several recent target reductions. Institutional investors own 45.88% of the company.

Cellebrite DI Ltd. (NASDAQ:CLBT - Get Free Report) CMO David Nicholas Gee sold 4,323 shares of the stock in a transaction on Monday, August 24th. The shares were sold at an average price of $11.36, for a total value of $49,109.28. Following the completion of the transaction, the chief marketing officer owned 135,281 shares in the company, valued at $1,536,792.16. The trade was a 3.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

David Nicholas Gee also recently made the following trade(s):

• On Friday, August 21st, David Nicholas Gee sold 2,198 shares of Cellebrite DI stock. The shares were sold at an average price of $11.24, for a total value of $24,705.52.
• On Wednesday, August 12th, David Nicholas Gee sold 230 shares of Cellebrite DI stock. The shares were sold at an average price of $16.07, for a total value of $3,696.10.

Cellebrite DI Trading Down 1.7%

Shares of CLBT traded down $0.20 during trading hours on Tuesday, hitting $11.29. 2,235,695 shares of the stock traded hands, compared to its average volume of 2,270,624. The business has a fifty day moving average of $14.24 and a 200-day moving average of $13.83. The firm has a market capitalization of $2.82 billion, a PE ratio of 51.32, a price-to-earnings-growth ratio of 1.53 and a beta of 1.18. Cellebrite DI Ltd. has a 1-year low of $9.58 and a 1-year high of $19.98.

Hedge Funds Weigh In On Cellebrite DI

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Cooper Creek Partners Management LLC bought a new position in shares of Cellebrite DI during the 3rd quarter valued at about $55,999,000. Capital International Investors bought a new stake in Cellebrite DI during the 4th quarter worth approximately $41,073,000. Invesco Ltd. increased its stake in Cellebrite DI by 58.6% during the 3rd quarter. Invesco Ltd. now owns 5,560,196 shares of the company's stock worth $103,030,000 after purchasing an additional 2,054,644 shares in the last quarter. California State Teachers Retirement System raised its holdings in Cellebrite DI by 1,595.2% during the 2nd quarter. California State Teachers Retirement System now owns 1,972,752 shares of the company's stock worth $28,802,000 after buying an additional 1,856,378 shares during the period. Finally, Weiss Asset Management LP lifted its stake in Cellebrite DI by 3,485.3% in the first quarter. Weiss Asset Management LP now owns 1,899,841 shares of the company's stock valued at $26,180,000 after buying an additional 1,846,851 shares in the last quarter. 45.88% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CLBT has been the subject of a number of recent research reports. JPMorgan Chase & Co. dropped their price target on shares of Cellebrite DI from $20.00 to $16.00 and set an "overweight" rating for the company in a research note on Friday, August 14th. Weiss Ratings lowered shares of Cellebrite DI from a "hold (c-)" rating to a "sell (d+)" rating in a report on Thursday, August 13th. Needham & Company LLC dropped their target price on shares of Cellebrite DI from $15.00 to $12.50 and set a "buy" rating for the company in a research report on Friday, August 14th. Lake Street Capital cut their price target on Cellebrite DI from $21.00 to $15.00 and set a "buy" rating on the stock in a research note on Friday, August 14th. Finally, DA Davidson reduced their price target on Cellebrite DI from $22.00 to $15.00 and set a "buy" rating on the stock in a research report on Friday, August 14th. Five research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $16.70.

About Cellebrite DI

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source