Cellebrite DI Ltd. (NASDAQ:CLBT) Stock Has Average Target Price of $16.70 According to Analysts

Cellebrite DI Ltd. (NASDAQ:CLBT) has been assigned a consensus rating of “Moderate Buy” from the six ratings firms that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $16.70.

CLBT has been the topic of several recent research reports. DA Davidson reiterated a “buy” rating and issued a $15.00 price target on shares of Cellebrite DI in a report on Tuesday, September 15th. Needham & Company LLC decreased their price objective on Cellebrite DI from $15.00 to $12.50 and set a “buy” rating for the company in a report on Friday, August 14th. Lake Street Capital lowered their target price on Cellebrite DI from $21.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, August 14th. JPMorgan Chase & Co. reduced their price objective on shares of Cellebrite DI from $20.00 to $16.00 and set an “overweight” rating for the company in a report on Friday, August 14th. Finally, Weiss Ratings downgraded shares of Cellebrite DI from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, August 27th.

Insider Buying and Selling at Cellebrite DI

In other Cellebrite DI news, CRO Marcus Jewell sold 12,562 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $11.24, for a total transaction of $141,196.88. Following the completion of the sale, the executive directly owned 427,128 shares of the company’s stock, valued at approximately $4,800,918.72. The trade was a 2.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Thomas E. Hogan sold 139,713 shares of the stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $15.39, for a total value of $2,150,183.07. Following the completion of the sale, the chief executive officer directly owned 790,548 shares of the company’s stock, valued at approximately $12,166,533.72. This trade represents a 15.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 196,870 shares of company stock worth $2,797,143 in the last quarter. 5.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Cellebrite DI

Hedge funds have recently bought and sold shares of the company. Elevation Wealth Partners LLC bought a new stake in shares of Cellebrite DI in the 2nd quarter worth $44,000. PNC Financial Services Group Inc. lifted its position in shares of Cellebrite DI by 59.6% during the first quarter. PNC Financial Services Group Inc. now owns 7,456 shares of the company’s stock valued at $103,000 after purchasing an additional 2,785 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of Cellebrite DI by 91.1% during the first quarter. Pacer Advisors Inc. now owns 7,607 shares of the company’s stock valued at $105,000 after purchasing an additional 3,626 shares in the last quarter. Quantinno Capital Management LP purchased a new position in Cellebrite DI during the first quarter worth about $150,000. Finally, Harmony Asset Management LLC bought a new stake in Cellebrite DI in the 1st quarter worth about $200,000. 45.88% of the stock is owned by hedge funds and other institutional investors.

Cellebrite DI Trading Up 2.6%

NASDAQ:CLBT opened at $12.10 on Tuesday. The firm has a fifty day simple moving average of $11.40 and a two-hundred day simple moving average of $13.02. Cellebrite DI has a 12 month low of $9.58 and a 12 month high of $19.98. The stock has a market capitalization of $3.02 billion, a price-to-earnings ratio of 55.00, a PEG ratio of 1.85 and a beta of 1.14.

About Cellebrite DI

Cellebrite DI Ltd. (NASDAQ: CLBT) provides digital intelligence and digital forensics solutions that help organizations collect, preserve, analyze and manage data from mobile devices, computers, cloud environments and other digital sources. Its customers include law enforcement agencies, public safety organizations, government and intelligence bodies, military units, and corporate security and investigation teams.

The company’s offerings include tools for accessing and extracting digital evidence, case and evidence management, and investigative analytics.