Polar Capital Holdings Plc Boosts Holdings in Cellebrite DI Ltd. (NASDAQ:CLBT)

Polar Capital Holdings Plc grew its stake in Cellebrite DI Ltd. (NASDAQ:CLBT - Free Report) by 61.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 448,801 shares of the company's stock after acquiring an additional 171,404 shares during the period. Polar Capital Holdings Plc owned about 0.22% of Cellebrite DI worth $9,887,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Gen Wealth Partners Inc purchased a new stake in Cellebrite DI during the 4th quarter worth approximately $85,000. NewEdge Advisors LLC increased its stake in Cellebrite DI by 600.7% during the 4th quarter. NewEdge Advisors LLC now owns 3,910 shares of the company's stock worth $86,000 after buying an additional 3,352 shares during the period. R Squared Ltd purchased a new stake in Cellebrite DI during the 4th quarter worth approximately $100,000. Polen Capital Management LLC purchased a new stake in Cellebrite DI during the 4th quarter worth approximately $222,000. Finally, Victory Capital Management Inc. purchased a new stake in Cellebrite DI during the 4th quarter worth approximately $234,000. 45.88% of the stock is owned by hedge funds and other institutional investors.

Cellebrite DI Stock Performance

Shares of NASDAQ:CLBT traded down $0.06 during trading hours on Wednesday, reaching $16.99. The stock had a trading volume of 487,343 shares, compared to its average volume of 1,459,481. Cellebrite DI Ltd. has a 1 year low of $10.25 and a 1 year high of $26.30. The firm's 50 day moving average is $19.01 and its 200-day moving average is $20.23. The stock has a market capitalization of $4.07 billion, a price-to-earnings ratio of -12.22, a P/E/G ratio of 4.27 and a beta of 1.44.

Cellebrite DI (NASDAQ:CLBT - Get Free Report) last issued its earnings results on Wednesday, May 14th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.01. The business had revenue of $107.55 million during the quarter, compared to analysts' expectations of $109.36 million. Cellebrite DI had a negative net margin of 70.54% and a positive return on equity of 58.70%. The company's revenue for the quarter was up 20.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.08 EPS. Analysts forecast that Cellebrite DI Ltd. will post 0.3 EPS for the current year.

Analyst Upgrades and Downgrades

CLBT has been the topic of several recent research reports. Needham & Company LLC cut their target price on shares of Cellebrite DI from $28.00 to $24.00 and set a "buy" rating on the stock in a research note on Wednesday, May 14th. Lake Street Capital upped their target price on shares of Cellebrite DI from $17.00 to $26.00 and gave the stock a "buy" rating in a research note on Friday, February 14th. Finally, JPMorgan Chase & Co. cut their target price on shares of Cellebrite DI from $29.00 to $25.00 and set an "overweight" rating on the stock in a research note on Monday, May 12th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $22.43.

Cellebrite DI 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.