New York State Common Retirement Fund Boosts Stake in Cellebrite DI Ltd. $CLBT

New York State Common Retirement Fund raised its holdings in Cellebrite DI Ltd. (NASDAQ:CLBT) by 62.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 145,433 shares of the company’s stock after acquiring an additional 55,863 shares during the period. New York State Common Retirement Fund owned approximately 0.06% of Cellebrite DI worth $2,695,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Financial Management Professionals Inc. bought a new stake in Cellebrite DI during the third quarter valued at approximately $28,000. CWM LLC grew its position in Cellebrite DI by 85.7% in the third quarter. CWM LLC now owns 1,560 shares of the company’s stock worth $29,000 after acquiring an additional 720 shares in the last quarter. Toth Financial Advisory Corp bought a new position in Cellebrite DI in the third quarter valued at $38,000. PNC Financial Services Group Inc. raised its position in Cellebrite DI by 1,998.0% during the second quarter. PNC Financial Services Group Inc. now owns 2,098 shares of the company’s stock valued at $34,000 after purchasing an additional 1,998 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its stake in Cellebrite DI by 523.4% during the third quarter. Pacer Advisors Inc. now owns 2,743 shares of the company’s stock worth $51,000 after purchasing an additional 2,303 shares during the last quarter. Hedge funds and other institutional investors own 45.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CLBT shares. Lake Street Capital upped their target price on Cellebrite DI from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. JPMorgan Chase & Co. increased their target price on shares of Cellebrite DI from $23.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, November 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Cellebrite DI in a research note on Monday, December 29th. Wall Street Zen cut Cellebrite DI from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Bank of America increased their target price on Cellebrite DI from $24.00 to $25.00 and gave the company a “buy” rating in a report on Thursday, November 13th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $24.00.

Cellebrite DI Trading Up 4.3%

Shares of NASDAQ CLBT opened at $14.17 on Friday. The firm has a fifty day simple moving average of $17.40 and a two-hundred day simple moving average of $17.00. Cellebrite DI Ltd. has a 12 month low of $13.10 and a 12 month high of $25.87. The firm has a market capitalization of $3.39 billion, a PE ratio of 45.71, a price-to-earnings-growth ratio of 1.98 and a beta of 1.28.

Cellebrite DI (NASDAQ:CLBT) last released its quarterly earnings results on Wednesday, November 12th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.05). The company had revenue of $126.03 million during the quarter, compared to the consensus estimate of $122.98 million. Cellebrite DI had a return on equity of 20.81% and a net margin of 16.74%.Cellebrite DI’s quarterly revenue was up 17.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.14 earnings per share. On average, sell-side analysts predict that Cellebrite DI Ltd. will post 0.3 earnings per share for the current year.

Cellebrite DI Company 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.