Light Street Capital Management LLC Grows Stock Holdings in Cellebrite DI Ltd. $CLBT

Light Street Capital Management LLC lifted its position in shares of Cellebrite DI Ltd. (NASDAQ:CLBT) by 104.8% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 1,312,755 shares of the company’s stock after acquiring an additional 671,830 shares during the period. Cellebrite DI makes up approximately 2.1% of Light Street Capital Management LLC’s investment portfolio, making the stock its 17th largest position. Light Street Capital Management LLC’s holdings in Cellebrite DI were worth $19,166,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in CLBT. Towarzystwo Funduszy Inwestycyjnych PZU SA increased its stake in shares of Cellebrite DI by 81.0% during the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 1,900 shares of the company’s stock worth $34,000 after purchasing an additional 850 shares in the last quarter. Advisory Services Network LLC acquired a new position in Cellebrite DI in the 3rd quarter valued at about $40,000. CWM LLC lifted its holdings in Cellebrite DI by 57.0% in the 4th quarter. CWM LLC now owns 2,449 shares of the company’s stock valued at $44,000 after purchasing an additional 889 shares in the last quarter. Elevation Wealth Partners LLC acquired a new stake in shares of Cellebrite DI during the 2nd quarter worth about $44,000. Finally, Vestcor Inc acquired a new position in shares of Cellebrite DI in the third quarter valued at approximately $70,000. 45.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CLBT has been the topic of several recent analyst reports. Needham & Company LLC cut their price objective on shares of Cellebrite DI from $15.00 to $12.50 and set a “buy” rating on the stock in a report on Friday, August 14th. Weiss Ratings downgraded shares of Cellebrite DI from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, August 27th. 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 report on Friday, August 14th. Lake Street Capital decreased their price target on shares of Cellebrite DI from $21.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, August 14th. Finally, DA Davidson dropped their price objective on Cellebrite DI from $22.00 to $15.00 and set a “buy” rating for the company in a report on Friday, August 14th. Five analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $16.70.

Cellebrite DI Price Performance

NASDAQ:CLBT remained flat at $11.45 during mid-day trading on Tuesday. The company’s stock had a trading volume of 3,783,412 shares, compared to its average volume of 2,273,343. The business has a 50-day simple moving average of $14.00 and a two-hundred day simple moving average of $13.65. The company has a market capitalization of $2.86 billion, a price-to-earnings ratio of 52.05, a price-to-earnings-growth ratio of 1.76 and a beta of 1.15. Cellebrite DI Ltd. has a one year low of $9.58 and a one year high of $19.98.

Insider Activity

In related news, insider Thomas E. Hogan sold 25,299 shares of the stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $11.29, for a total value of $285,625.71. Following the completion of the transaction, the insider owned 765,249 shares of the company’s stock, valued at approximately $8,639,661.21. This represents a 3.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CMO David Gee sold 4,323 shares of the firm’s stock in a transaction that occurred 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 sale, the chief marketing officer owned 135,281 shares of the company’s stock, valued at approximately $1,536,792.16. This trade represents a 3.10% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 329,658 shares of company stock worth $4,970,967 over the last three months. Insiders own 5.70% of the company’s stock.

Cellebrite DI 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.