Principal Financial Group Inc. Buys Shares of 1,389,654 Cellebrite DI Ltd. (NASDAQ:CLBT)

Principal Financial Group Inc. bought a new position in shares of Cellebrite DI Ltd. (NASDAQ:CLBT - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,389,654 shares of the company's stock, valued at approximately $23,402,000. Principal Financial Group Inc. owned about 0.67% of Cellebrite DI at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of CLBT. FMR LLC lifted its position in Cellebrite DI by 136.3% during the 3rd quarter. FMR LLC now owns 5,616,757 shares of the company's stock worth $94,586,000 after acquiring an additional 3,239,307 shares during the period. Meitav Investment House Ltd. raised 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 worth $34,797,000 after purchasing an additional 473,293 shares during the last quarter. Pembroke Management LTD lifted its holdings in shares of 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. Two Sigma Advisers LP grew its position in Cellebrite DI by 9.8% in the 3rd quarter. Two Sigma Advisers LP now owns 1,341,100 shares of the company's stock valued at $22,584,000 after buying an additional 120,000 shares during the last quarter. Finally, Portolan Capital Management LLC increased its stake in Cellebrite DI by 19.9% in the 3rd quarter. Portolan Capital Management LLC now owns 1,224,020 shares of the company's stock valued at $20,612,000 after buying an additional 203,068 shares during the period. 45.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CLBT shares. JPMorgan Chase & Co. raised their target price on shares of Cellebrite DI from $22.00 to $24.00 and gave the stock an "overweight" rating in a research note on Monday, December 16th. Craig Hallum lifted their price objective on Cellebrite DI from $23.00 to $24.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Needham & Company LLC boosted their target price on Cellebrite DI from $17.00 to $21.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Finally, TD Cowen raised their price target on Cellebrite DI from $20.00 to $23.00 and gave the company a "buy" rating in a report on Monday, September 23rd. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $20.57.

Cellebrite DI Stock Up 0.3 %

Shares of CLBT traded up $0.06 on Thursday, reaching $22.51. The stock had a trading volume of 615,196 shares, compared to its average volume of 1,182,723. Cellebrite DI Ltd. has a twelve month low of $7.91 and a twelve month high of $22.91. The firm has a market capitalization of $4.64 billion, a PE ratio of -14.52, a PEG ratio of 2.71 and a beta of 1.51. The firm has a 50-day moving average of $19.49 and a 200 day moving average of $16.39.

Cellebrite DI (NASDAQ:CLBT - Get Free Report) last posted its earnings results 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 company had revenue of $106.90 million for the quarter, compared to analyst estimates of $102.06 million. Cellebrite DI had a positive return on equity of 122.59% and a negative net margin of 82.28%. Cellebrite DI's revenue was up 27.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.09 earnings per share. On average, sell-side analysts anticipate that Cellebrite DI Ltd. will post 0.32 earnings per share for the current fiscal year.

Cellebrite DI Company 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.