Principal Financial Group Inc. Purchases Shares of 1,389,654 Cellebrite DI Ltd. (NASDAQ:CLBT)

Principal Financial Group Inc. acquired a new position in Cellebrite DI Ltd. (NASDAQ:CLBT) in the third quarter, Holdings Channel.com reports. The firm acquired 1,389,654 shares of the company’s stock, valued at approximately $23,402,000.

A number of other large investors also recently modified their holdings of CLBT. Point72 Asia Singapore Pte. Ltd. boosted its position in Cellebrite DI by 59.6% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,724 shares of the company’s stock valued at $33,000 after buying an additional 1,017 shares during the period. Public Employees Retirement Association of Colorado purchased a new stake in Cellebrite DI during the 2nd quarter valued at about $71,000. Pathway Financial Advisers LLC grew its position in Cellebrite DI by 1,583.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 4,378 shares of the company’s stock worth $74,000 after acquiring an additional 4,118 shares during the last quarter. nVerses Capital LLC bought a new position in Cellebrite DI during the 2nd quarter worth approximately $103,000. Finally, TD Asset Management Inc bought a new stake in Cellebrite DI in the second quarter valued at approximately $121,000. 45.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CLBT shares. Craig Hallum raised their price target on shares of Cellebrite DI from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Lake Street Capital boosted their price target on Cellebrite DI from $13.50 to $17.00 and gave the company a “buy” rating in a report on Friday, August 16th. JPMorgan Chase & Co. upped their price target on Cellebrite DI from $21.00 to $22.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft lifted their price objective on Cellebrite DI from $15.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Finally, Bank of America raised their price target on Cellebrite DI from $13.00 to $17.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Cellebrite DI presently has an average rating of “Buy” and a consensus price target of $20.29.

Cellebrite DI Stock Performance

Shares of NASDAQ:CLBT opened at $17.81 on Thursday. The firm has a market capitalization of $3.67 billion, a P/E ratio of -11.49, a P/E/G ratio of 2.61 and a beta of 1.50. The stock has a 50 day moving average price of $17.68 and a 200-day moving average price of $14.45. Cellebrite DI Ltd. has a 52-week low of $7.61 and a 52-week high of $21.00.

Cellebrite DI (NASDAQ:CLBT) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.05. Cellebrite DI had a positive return on equity of 122.59% and a negative net margin of 82.28%. The business had revenue of $106.90 million during the quarter, compared to the consensus estimate of $102.06 million. During the same quarter in the prior year, the company earned $0.09 earnings per share. The firm’s quarterly revenue was up 27.0% compared to the same quarter last year. On average, equities analysts forecast that Cellebrite DI Ltd. will post 0.31 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.