Bank of New York Mellon Corp Buys Shares of 1,154,303 Cellebrite DI Ltd. (NASDAQ:CLBT)

Bank of New York Mellon Corp bought a new position in shares of Cellebrite DI Ltd. (NASDAQ:CLBT) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,154,303 shares of the company’s stock, valued at approximately $22,428,000. Bank of New York Mellon Corp owned 0.48% of Cellebrite DI at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Catalyst Capital Advisors LLC bought a new stake in Cellebrite DI during the 1st quarter valued at $51,000. Huntleigh Advisors Inc. lifted its position in shares of Cellebrite DI by 10.0% during the 1st quarter. Huntleigh Advisors Inc. now owns 47,129 shares of the company’s stock worth $916,000 after purchasing an additional 4,283 shares during the last quarter. OneDigital Investment Advisors LLC increased its stake in Cellebrite DI by 2.5% during the first quarter. OneDigital Investment Advisors LLC now owns 28,591 shares of the company’s stock valued at $556,000 after acquiring an additional 688 shares during the period. Meritage Portfolio Management increased its stake in Cellebrite DI by 102.5% during the first quarter. Meritage Portfolio Management now owns 60,559 shares of the company’s stock valued at $1,177,000 after acquiring an additional 30,658 shares during the period. Finally, Teacher Retirement System of Texas grew its stake in shares of Cellebrite DI by 121.3% in the 1st quarter. Teacher Retirement System of Texas now owns 44,407 shares of the company’s stock valued at $863,000 after purchasing an additional 24,337 shares during the period. 45.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on CLBT shares. JPMorgan Chase & Co. cut their price target on Cellebrite DI from $29.00 to $25.00 and set an “overweight” rating on the stock in a research note on Monday, May 12th. Needham & Company LLC restated a “buy” rating and issued a $24.00 price objective on shares of Cellebrite DI in a report on Friday, June 6th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, Cellebrite DI has a consensus rating of “Buy” and a consensus target price of $22.43.

Cellebrite DI Stock Up 2.3%

Shares of Cellebrite DI stock opened at $14.54 on Friday. The firm has a market cap of $3.48 billion, a PE ratio of -15.15, a price-to-earnings-growth ratio of 2.87 and a beta of 1.28. Cellebrite DI Ltd. has a 12-month low of $11.90 and a 12-month high of $26.30. The company’s fifty day simple moving average is $16.31 and its two-hundred day simple moving average is $19.03.

Cellebrite DI (NASDAQ:CLBT) last issued its earnings results on Wednesday, May 14th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. The company had revenue of $107.55 million for the quarter, compared to analysts’ expectations of $109.36 million. Cellebrite DI had a negative net margin of 46.34% and a positive return on equity of 35.36%. The firm’s quarterly revenue was up 20.0% on a year-over-year basis. During the same quarter last year, the company posted $0.08 earnings per share. As a group, sell-side analysts expect that Cellebrite DI Ltd. will post 0.3 earnings per share for the current fiscal year.

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.