JPMorgan Chase & Co. Lowers Stock Position in Cellebrite DI Ltd. (NASDAQ:CLBT)

JPMorgan Chase & Co. cut its stake in shares of Cellebrite DI Ltd. (NASDAQ:CLBT - Free Report) by 22.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 331,665 shares of the company's stock after selling 95,990 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.16% of Cellebrite DI worth $7,307,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp grew its stake in Cellebrite DI by 7.3% in the third quarter. State Street Corp now owns 443,700 shares of the company's stock worth $7,472,000 after purchasing an additional 30,052 shares in the last quarter. Y Intercept Hong Kong Ltd grew its position in shares of Cellebrite DI by 35.5% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 19,510 shares of the company's stock worth $329,000 after buying an additional 5,113 shares in the last quarter. Barclays PLC increased its stake in shares of Cellebrite DI by 29.1% during the third quarter. Barclays PLC now owns 263,657 shares of the company's stock valued at $4,439,000 after buying an additional 59,395 shares during the period. Tidal Investments LLC raised its holdings in shares of Cellebrite DI by 59.3% in the third quarter. Tidal Investments LLC now owns 104,478 shares of the company's stock valued at $1,759,000 after acquiring an additional 38,887 shares in the last quarter. Finally, Lord Abbett & CO. LLC purchased a new stake in Cellebrite DI in the third quarter worth about $11,523,000. Institutional investors own 45.88% of the company's stock.

Cellebrite DI Stock Performance

CLBT stock traded up $0.20 during trading on Tuesday, reaching $18.39. The company had a trading volume of 824,743 shares, compared to its average volume of 1,409,608. The company has a market cap of $4.40 billion, a price-to-earnings ratio of -13.23, a price-to-earnings-growth ratio of 4.27 and a beta of 1.44. Cellebrite DI Ltd. has a twelve month low of $10.25 and a twelve month high of $26.30. The firm has a 50-day simple moving average of $18.79 and a 200-day simple moving average of $20.10.

Cellebrite DI (NASDAQ:CLBT - Get Free Report) last posted its quarterly earnings results 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%. Sell-side analysts expect that Cellebrite DI Ltd. will post 0.3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CLBT has been the subject of several recent research reports. Lake Street Capital boosted their price target on shares of Cellebrite DI from $17.00 to $26.00 and gave the company a "buy" rating in a report on Friday, February 14th. JPMorgan Chase & Co. boosted their price objective 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. Finally, Needham & Company LLC restated a "buy" rating and set a $28.00 target price on shares of Cellebrite DI in a report on Wednesday, April 2nd. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $23.43.

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.