Harbor Capital Advisors Inc. Boosts Stock Holdings in Cellebrite DI Ltd. (NASDAQ:CLBT)

Harbor Capital Advisors Inc. increased its position in shares of Cellebrite DI Ltd. (NASDAQ:CLBT) by 96.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 95,351 shares of the company’s stock after buying an additional 46,727 shares during the period. Harbor Capital Advisors Inc.’s holdings in Cellebrite DI were worth $1,606,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Acadian Asset Management LLC grew its position in shares of Cellebrite DI by 26.8% during the 1st quarter. Acadian Asset Management LLC now owns 2,896,497 shares of the company’s stock valued at $32,062,000 after acquiring an additional 612,787 shares during the period. Meitav Investment House Ltd. grew its holdings in Cellebrite DI by 29.7% in the third quarter. Meitav Investment House Ltd. now owns 2,066,322 shares of the company’s stock valued at $34,797,000 after purchasing an additional 473,293 shares during the period. Pembroke Management LTD increased its position in shares of Cellebrite DI by 24.3% in the third quarter. Pembroke Management LTD now owns 1,908,345 shares of the company’s stock valued at $32,137,000 after buying an additional 372,619 shares in the last quarter. Ashford Capital Management Inc. lifted its position in shares of Cellebrite DI by 23.5% during the 1st quarter. Ashford Capital Management Inc. now owns 1,841,240 shares of the company’s stock valued at $20,401,000 after buying an additional 350,140 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of Cellebrite DI by 22.1% during the 2nd quarter. Renaissance Technologies LLC now owns 1,183,700 shares of the company’s stock valued at $14,145,000 after buying an additional 214,600 shares in the last quarter. Institutional investors and hedge funds own 45.88% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Lake Street Capital upped their price objective on shares of Cellebrite DI from $13.50 to $17.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. TD Cowen raised their price target on shares of Cellebrite DI from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. JPMorgan Chase & Co. lifted their price objective on Cellebrite DI from $14.00 to $15.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft increased their target price on Cellebrite DI from $15.00 to $18.00 and gave the company a “buy” rating in a report on Friday, August 16th. Finally, Bank of America lifted 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 research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $18.57.

Cellebrite DI Price Performance

CLBT stock opened at $19.15 on Wednesday. Cellebrite DI Ltd. has a 1 year low of $7.12 and a 1 year high of $19.77. The firm has a market capitalization of $3.94 billion, a PE ratio of -36.13, a price-to-earnings-growth ratio of 2.55 and a beta of 1.50. The business has a 50 day simple moving average of $17.51 and a 200-day simple moving average of $14.16.

Cellebrite DI (NASDAQ:CLBT) last issued its earnings results on Thursday, August 15th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.02. Cellebrite DI had a positive return on equity of 5,902.06% and a negative net margin of 28.51%. The business had revenue of $95.70 million during the quarter, compared to the consensus estimate of $91.94 million. During the same period last year, the company earned $0.05 EPS. The company’s revenue for the quarter was up 24.8% on a year-over-year basis. On average, equities research analysts expect that Cellebrite DI Ltd. will post 0.31 EPS for the current 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.