JPMorgan Chase & Co. Grows Stake in Cellebrite DI Ltd. (NASDAQ:CLBT)

JPMorgan Chase & Co. raised its position in Cellebrite DI Ltd. (NASDAQ:CLBT - Free Report) by 21.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 427,655 shares of the company's stock after buying an additional 75,092 shares during the quarter. JPMorgan Chase & Co. owned about 0.21% of Cellebrite DI worth $7,202,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. purchased a new position in Cellebrite DI in the 3rd quarter valued at approximately $23,402,000. Lord Abbett & CO. LLC bought a new position in shares of Cellebrite DI in the third quarter worth $11,523,000. Tidal Investments LLC grew its position 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 purchasing an additional 38,887 shares in the last quarter. Barclays PLC raised its stake in shares of Cellebrite DI by 29.1% during the 3rd quarter. Barclays PLC now owns 263,657 shares of the company's stock valued at $4,439,000 after purchasing an additional 59,395 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new stake in Cellebrite DI during the 3rd quarter worth about $4,936,000. Hedge funds and other institutional investors own 45.88% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on CLBT shares. 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 report on Monday, September 23rd. JPMorgan Chase & Co. raised their price target on shares of Cellebrite DI from $22.00 to $24.00 and gave the company an "overweight" rating in a report on Monday, December 16th. Craig Hallum upped their price target on shares of Cellebrite DI from $23.00 to $24.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Finally, Needham & Company LLC lifted their price objective on Cellebrite DI from $17.00 to $21.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $20.57.

Cellebrite DI Price Performance

NASDAQ CLBT traded up $0.63 during trading hours on Wednesday, reaching $22.91. 2,448,048 shares of the stock traded hands, compared to its average volume of 1,379,905. The stock has a 50 day simple moving average of $20.52 and a two-hundred day simple moving average of $17.41. Cellebrite DI Ltd. has a 1 year low of $7.91 and a 1 year high of $23.08. The company has a market cap of $4.72 billion, a price-to-earnings ratio of -14.78, a price-to-earnings-growth ratio of 2.71 and a beta of 1.46.

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