ARK Investment Management LLC Sells 61,802 Shares of Cellebrite DI Ltd. (NASDAQ:CLBT)

ARK Investment Management LLC lowered its holdings in shares of Cellebrite DI Ltd. (NASDAQ:CLBT) by 38.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 98,823 shares of the company’s stock after selling 61,802 shares during the quarter. ARK Investment Management LLC’s holdings in Cellebrite DI were worth $2,177,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. FMR LLC lifted its position in Cellebrite DI by 136.3% in the third quarter. FMR LLC now owns 5,616,757 shares of the company’s stock worth $94,586,000 after buying an additional 3,239,307 shares during the last quarter. Principal Financial Group Inc. bought a new stake in shares of Cellebrite DI in the 3rd quarter worth about $23,402,000. Lord Abbett & CO. LLC purchased a new position in shares of Cellebrite DI during the 3rd quarter worth about $11,523,000. Summit Partners Public Asset Management LLC bought a new position in Cellebrite DI during the 3rd quarter valued at about $9,274,000. Finally, Meitav Investment House Ltd. raised its position in Cellebrite DI by 29.7% in the 3rd quarter. Meitav Investment House Ltd. now owns 2,066,322 shares of the company’s stock worth $34,797,000 after purchasing an additional 473,293 shares during the period. 45.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the company. Craig Hallum upped their price objective on Cellebrite DI from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $28.00 price target on shares of Cellebrite DI in a research note on Friday, February 14th. JPMorgan Chase & Co. lifted their price objective on shares of Cellebrite DI from $24.00 to $28.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. Finally, Lake Street Capital upped their target price on shares of Cellebrite DI from $17.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $23.43.

Cellebrite DI Price Performance

NASDAQ:CLBT opened at $19.04 on Thursday. The firm has a market cap of $3.92 billion, a PE ratio of -13.70, a price-to-earnings-growth ratio of 4.27 and a beta of 1.47. The company has a 50-day moving average of $22.44 and a 200 day moving average of $19.54. Cellebrite DI Ltd. has a 1-year low of $10.24 and a 1-year high of $26.30.

Cellebrite DI (NASDAQ:CLBT) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.03). Cellebrite DI had a negative net margin of 70.54% and a positive return on equity of 58.70%. Sell-side analysts anticipate that Cellebrite DI Ltd. will post 0.3 EPS for the current fiscal year.

About Cellebrite DI

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.