Axon Enterprise Inc. Takes $198.27 Million Position in Cellebrite DI Ltd. (NASDAQ:CLBT)

Axon Enterprise Inc. acquired a new position in shares of Cellebrite DI Ltd. (NASDAQ:CLBT - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 9,000,000 shares of the company's stock, valued at approximately $198,270,000. Cellebrite DI makes up about 100.0% of Axon Enterprise Inc.'s investment portfolio, making the stock its biggest position. Axon Enterprise Inc. owned about 4.37% of Cellebrite DI at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. NewEdge Advisors LLC grew its holdings in Cellebrite DI by 600.7% during the fourth quarter. NewEdge Advisors LLC now owns 3,910 shares of the company's stock valued at $86,000 after purchasing an additional 3,352 shares during the period. R Squared Ltd bought a new stake in Cellebrite DI in the 4th quarter valued at about $100,000. Polen Capital Management LLC purchased a new stake in Cellebrite DI during the fourth quarter valued at about $222,000. Victory Capital Management Inc. bought a new position in Cellebrite DI during the fourth quarter worth about $234,000. Finally, HighTower Advisors LLC purchased a new position in shares of Cellebrite DI in the fourth quarter worth about $274,000. 45.88% of the stock is currently owned by institutional investors and hedge funds.

Cellebrite DI Stock Up 2.6 %

Shares of CLBT traded up $0.50 during trading hours on Thursday, hitting $19.56. The company had a trading volume of 525,738 shares, compared to its average volume of 1,411,304. Cellebrite DI Ltd. has a 52-week low of $10.25 and a 52-week high of $26.30. The stock's 50 day moving average price is $18.75 and its 200 day moving average price is $20.10. The firm has a market cap of $4.68 billion, a P/E ratio of -14.07, a P/E/G ratio of 4.27 and a beta of 1.44.

Cellebrite DI (NASDAQ:CLBT - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate 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%. On average, research analysts expect that Cellebrite DI Ltd. will post 0.3 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of Cellebrite DI from $24.00 to $28.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 11th. Lake Street Capital increased their price objective on Cellebrite DI from $17.00 to $26.00 and gave the stock a "buy" rating in a research report on Friday, February 14th. Finally, Needham & Company LLC restated a "buy" rating and set a $28.00 target price on shares of Cellebrite DI in a research report on Wednesday, April 2nd. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $23.43.

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.