Telemark Asset Management LLC Takes $6.74 Million Position in Cellebrite DI Ltd. (NASDAQ:CLBT)

Telemark Asset Management LLC acquired a new position in shares of Cellebrite DI Ltd. (NASDAQ:CLBT) in the third quarter, HoldingsChannel reports. The fund acquired 400,000 shares of the company’s stock, valued at approximately $6,736,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Principal Financial Group Inc. acquired a new position in shares of Cellebrite DI during the 3rd quarter worth about $23,402,000. Pembroke Management LTD grew its holdings in Cellebrite DI by 104.9% during the second quarter. Pembroke Management LTD now owns 1,535,726 shares of the company’s stock valued at $18,352,000 after purchasing an additional 786,310 shares during the period. Meitav Investment House Ltd. increased its stake in Cellebrite DI by 29.7% in the third quarter. Meitav Investment House Ltd. now owns 2,066,322 shares of the company’s stock valued at $34,797,000 after purchasing an additional 473,293 shares in the last quarter. Ashford Capital Management Inc. raised its holdings in Cellebrite DI by 23.5% in the first quarter. Ashford Capital Management Inc. now owns 1,841,240 shares of the company’s stock worth $20,401,000 after purchasing an additional 350,140 shares during the period. Finally, Renaissance Technologies LLC boosted its position in shares of Cellebrite DI by 22.1% during the second quarter. Renaissance Technologies LLC now owns 1,183,700 shares of the company’s stock worth $14,145,000 after purchasing an additional 214,600 shares in the last quarter. Institutional investors own 45.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on CLBT shares. Needham & Company LLC upped their price objective on shares of Cellebrite DI from $17.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Bank of America raised their price target on Cellebrite DI from $13.00 to $17.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Lake Street Capital lifted their price objective on Cellebrite DI from $13.50 to $17.00 and gave the company a “buy” rating in a report on Friday, August 16th. JPMorgan Chase & Co. increased their target price on Cellebrite DI from $21.00 to $22.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Cellebrite DI from $15.00 to $18.00 and gave the company a “buy” rating in a report on Friday, August 16th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $20.29.

Cellebrite DI Price Performance

Shares of NASDAQ:CLBT opened at $20.18 on Friday. The business’s 50 day simple moving average is $17.92 and its 200 day simple moving average is $14.77. The company has a market capitalization of $4.16 billion, a P/E ratio of -13.02, a P/E/G ratio of 2.55 and a beta of 1.50. Cellebrite DI Ltd. has a 1 year low of $7.91 and a 1 year high of $21.00.

Cellebrite DI (NASDAQ:CLBT) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.05. The business had revenue of $106.90 million for the quarter, compared to analyst estimates of $102.06 million. Cellebrite DI had a positive return on equity of 122.59% and a negative net margin of 82.28%. Cellebrite DI’s revenue was up 27.0% compared to the same quarter last year. During the same period last year, the firm posted $0.09 earnings per share. On average, sell-side analysts anticipate that Cellebrite DI Ltd. will post 0.32 EPS for the current fiscal year.

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.