Connor Clark & Lunn Investment Management Ltd. Sells 241,356 Shares of Cellebrite DI Ltd. (NASDAQ:CLBT)

Connor Clark & Lunn Investment Management Ltd. reduced its stake in Cellebrite DI Ltd. (NASDAQ:CLBT - Free Report) by 21.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 907,627 shares of the company's stock after selling 241,356 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.44% of Cellebrite DI worth $19,995,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Quarry LP purchased a new position in Cellebrite DI during the third quarter worth about $27,000. Advisors Asset Management Inc. grew its holdings in shares of 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 acquiring an additional 1,742 shares in the last quarter. R Squared Ltd bought a new position in shares of Cellebrite DI in the fourth quarter valued at approximately $100,000. Venturi Wealth Management LLC increased its position in shares of Cellebrite DI by 28.6% during the third quarter. Venturi Wealth Management LLC now owns 9,000 shares of the company's stock valued at $152,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Victory Capital Management Inc. bought a new stake in Cellebrite DI during the fourth quarter worth $234,000. 45.88% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Lake Street Capital upped their price objective on Cellebrite DI from $17.00 to $26.00 and gave the company a "buy" rating in a research note on Friday, February 14th. 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 report on Tuesday, February 11th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $28.00 price target on shares of Cellebrite DI in a research report on Monday. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $23.43.

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Cellebrite DI Trading Up 5.6 %

Shares of Cellebrite DI stock traded up $0.97 on Friday, hitting $18.25. 1,479,981 shares of the company traded hands, compared to its average volume of 1,120,640. Cellebrite DI Ltd. has a 12-month low of $10.25 and a 12-month high of $26.30. The firm's 50-day simple moving average is $21.49 and its 200 day simple moving average is $19.68. The company has a market cap of $3.76 billion, a P/E ratio of -13.13, a P/E/G ratio of 4.27 and a beta of 1.53.

Cellebrite DI (NASDAQ:CLBT - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. Analysts predict that Cellebrite DI Ltd. will post 0.3 earnings per share 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.