Cellebrite DI Ltd. (NASDAQ:CLBT) Holdings Lowered by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. cut its holdings in Cellebrite DI Ltd. (NASDAQ:CLBT - Free Report) by 6.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,148,983 shares of the company's stock after selling 79,151 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.56% of Cellebrite DI worth $19,349,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Meitav Investment House Ltd. lifted its stake in shares of Cellebrite DI by 29.7% during the third quarter. Meitav Investment House Ltd. now owns 2,066,322 shares of the company's stock valued at $34,797,000 after buying an additional 473,293 shares during the period. Pembroke Management LTD raised its stake in Cellebrite DI by 24.3% during the third quarter. Pembroke Management LTD now owns 1,908,345 shares of the company's stock worth $32,137,000 after purchasing an additional 372,619 shares during the period. Ashford Capital Management Inc. raised its stake in Cellebrite DI by 23.5% during the first quarter. Ashford Capital Management Inc. now owns 1,841,240 shares of the company's stock worth $20,401,000 after purchasing an additional 350,140 shares during the period. Principal Financial Group Inc. purchased a new position in Cellebrite DI during the third quarter worth approximately $23,402,000. Finally, Renaissance Technologies LLC raised its stake in Cellebrite DI by 22.1% during the second quarter. Renaissance Technologies LLC now owns 1,183,700 shares of the company's stock worth $14,145,000 after purchasing an additional 214,600 shares during the period. Institutional investors and hedge funds own 45.88% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft increased their price target on shares of Cellebrite DI from $15.00 to $18.00 and gave the stock a "buy" rating in a research note on Friday, August 16th. TD Cowen increased their price target on shares of Cellebrite DI from $20.00 to $23.00 and gave the stock a "buy" rating in a research note on Monday, September 23rd. JPMorgan Chase & Co. increased their price objective on shares of Cellebrite DI from $21.00 to $22.00 and gave the stock an "overweight" rating in a research report on Thursday, November 7th. Needham & Company LLC increased their price objective on shares of Cellebrite DI from $17.00 to $21.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Finally, Lake Street Capital increased 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. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Cellebrite DI presently has an average rating of "Buy" and a consensus target price of $20.29.

Cellebrite DI Stock Performance

Shares of Cellebrite DI stock traded up $0.71 during trading hours on Thursday, reaching $19.71. The company's stock had a trading volume of 128,710 shares, compared to its average volume of 1,162,558. The company's 50 day simple moving average is $17.86 and its 200 day simple moving average is $14.73. Cellebrite DI Ltd. has a one year low of $7.91 and a one year high of $21.00. The stock has a market cap of $4.06 billion, a P/E ratio of -12.26, a price-to-earnings-growth ratio of 2.55 and a beta of 1.50.

Cellebrite DI (NASDAQ:CLBT - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.05. The firm had revenue of $106.90 million for the quarter, compared to the consensus estimate of $102.06 million. Cellebrite DI had a negative net margin of 82.28% and a positive return on equity of 122.59%. Cellebrite DI's quarterly revenue was up 27.0% compared to the same quarter last year. During the same period last year, the firm posted $0.09 EPS. On average, sell-side analysts predict that Cellebrite DI Ltd. will post 0.32 earnings per share 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.