Cellebrite DI (NASDAQ:CLBT) Shares Up 9.8% – Here’s What Happened

Cellebrite DI Ltd. (NASDAQ:CLBT) shot up 9.8% during trading on Friday . The stock traded as high as $14.43 and last traded at $14.4990. 1,505,539 shares were traded during mid-day trading, a decline of 21% from the average session volume of 1,917,233 shares. The stock had previously closed at $13.20.

Analyst Ratings Changes

A number of brokerages recently issued reports on CLBT. Wall Street Zen upgraded shares of Cellebrite DI from a “sell” rating to a “hold” rating in a research note on Sunday, March 15th. 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. DA Davidson began coverage on shares of Cellebrite DI in a research note on Wednesday. They issued a “buy” rating and a $20.00 price target for the company. Finally, Needham & Company LLC decreased their price target on shares of Cellebrite DI from $18.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, May 15th. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $21.40.

Cellebrite DI Price Performance

The business’s 50 day moving average is $13.27 and its 200-day moving average is $15.29. The company has a market cap of $3.67 billion, a PE ratio of 52.61, a P/E/G ratio of 1.76 and a beta of 1.15.

Insider Transactions at Cellebrite DI

In related news, CRO Marcus Jewell sold 12,658 shares of Cellebrite DI stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $12.77, for a total value of $161,642.66. Following the completion of the transaction, the executive owned 440,101 shares in the company, valued at $5,620,089.77. The trade was a 2.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 13,269 shares of company stock valued at $169,592 in the last ninety days. 5.70% of the stock is owned by insiders.

Institutional Trading of Cellebrite DI

Several institutional investors have recently modified their holdings of CLBT. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Cellebrite DI by 16.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 173,013 shares of the company’s stock worth $3,362,000 after buying an additional 24,881 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Cellebrite DI by 16.2% during the 2nd quarter. Geode Capital Management LLC now owns 314,440 shares of the company’s stock worth $5,029,000 after buying an additional 43,898 shares during the last quarter. Invesco Ltd. lifted its position in shares of Cellebrite DI by 6.4% during the 2nd quarter. Invesco Ltd. now owns 3,505,552 shares of the company’s stock worth $56,089,000 after buying an additional 209,473 shares during the last quarter. First Trust Advisors LP purchased a new stake in shares of Cellebrite DI during the 2nd quarter worth approximately $341,000. Finally, Marshall Wace LLP purchased a new stake in shares of Cellebrite DI during the 2nd quarter worth approximately $4,472,000. Hedge funds and other institutional investors own 45.88% of the company’s stock.

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.