DA Davidson Boosts Cellebrite DI (NASDAQ:CLBT) Price Target to $22.00

Cellebrite DI (NASDAQ:CLBT) had its target price increased by analysts at DA Davidson from $20.00 to $22.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. DA Davidson’s price objective would indicate a potential upside of 42.30% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. Weiss Ratings upgraded shares of Cellebrite DI from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, May 18th. Needham & Company LLC dropped their price target on shares of Cellebrite DI from $18.00 to $15.00 and set a “buy” rating on the stock 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 stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $21.80.

Cellebrite DI Stock Down 1.2%

Shares of NASDAQ CLBT traded down $0.18 during mid-day trading on Thursday, hitting $15.46. 600,623 shares of the company were exchanged, compared to its average volume of 1,885,303. The stock has a 50 day simple moving average of $14.48 and a 200-day simple moving average of $14.11. Cellebrite DI has a 1-year low of $11.02 and a 1-year high of $19.98. The firm has a market cap of $3.86 billion, a price-to-earnings ratio of 55.22, a price-to-earnings-growth ratio of 1.95 and a beta of 1.18.

Insider Activity at Cellebrite DI

In other Cellebrite DI news, CFO David Barter sold 41,734 shares of the firm’s stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $16.38, for a total transaction of $683,602.92. Following the completion of the transaction, the chief financial officer directly owned 334,219 shares in the company, valued at approximately $5,474,507.22. This trade represents a 11.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CRO Marcus Jewell sold 12,658 shares of the business’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $12.77, for a total transaction of $161,642.66. Following the completion of the transaction, the executive directly owned 440,101 shares of the company’s stock, valued at $5,620,089.77. The trade was a 2.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 158,191 shares of company stock valued at $2,479,438. Insiders own 5.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CLBT. Roubaix Capital LLC lifted its stake in Cellebrite DI by 108.1% during the first quarter. Roubaix Capital LLC now owns 303,215 shares of the company’s stock worth $4,178,000 after purchasing an additional 157,536 shares during the last quarter. Lazard Asset Management LLC acquired a new position in Cellebrite DI during the 1st quarter valued at about $2,134,000. Principal Financial Group Inc. raised its holdings in shares of Cellebrite DI by 33.9% during the first quarter. Principal Financial Group Inc. now owns 2,156,166 shares of the company’s stock valued at $29,712,000 after buying an additional 545,334 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its position in Cellebrite DI by 28.6% in the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,350,000 shares of the company’s stock valued at $24,341,000 after acquiring an additional 300,000 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Cellebrite DI by 107.0% during the 1st quarter. Bank of New York Mellon Corp now owns 1,333,563 shares of the company’s stock valued at $18,376,000 after acquiring an additional 689,367 shares in the last quarter. 45.88% of the stock is owned by institutional investors and hedge funds.

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.