Polen Capital Management LLC Buys New Position in Cellebrite DI Ltd. (NASDAQ:CLBT)

Polen Capital Management LLC purchased a new position in shares of Cellebrite DI Ltd. (NASDAQ:CLBT) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 10,095 shares of the company’s stock, valued at approximately $222,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quarry LP acquired a new position in shares of Cellebrite DI in the 3rd quarter valued at $27,000. Advisors Asset Management Inc. increased its stake in Cellebrite DI by 130.5% in the third quarter. Advisors Asset Management Inc. now owns 3,077 shares of the company’s stock valued at $52,000 after purchasing an additional 1,742 shares during the period. R Squared Ltd purchased a new stake in shares of Cellebrite DI in the fourth quarter valued at about $100,000. Victory Capital Management Inc. acquired a new stake in shares of Cellebrite DI during the fourth quarter worth about $234,000. Finally, HighTower Advisors LLC acquired a new stake in shares of Cellebrite DI during the fourth quarter worth about $274,000. Hedge funds and other institutional investors own 45.88% of the company’s stock.

Cellebrite DI Price Performance

Shares of CLBT stock opened at $18.66 on Tuesday. The business’s fifty day moving average price is $21.34 and its 200 day moving average price is $19.74. The firm has a market capitalization of $3.84 billion, a PE ratio of -13.42, a P/E/G ratio of 4.27 and a beta of 1.52. Cellebrite DI Ltd. has a 1-year low of $10.25 and a 1-year high of $26.30.

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

Analysts Set New Price Targets

Several research firms have commented on CLBT. Needham & Company LLC reaffirmed a “buy” rating and set a $28.00 price objective on shares of Cellebrite DI in a research note on Monday, March 10th. Lake Street Capital increased their price target on Cellebrite DI from $17.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Cellebrite DI from $24.00 to $28.00 and gave the company an “overweight” rating in a research note on Tuesday, February 11th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $23.43.

Cellebrite DI Company 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.