Cellebrite DI Ltd. (NASDAQ:CLBT) Stock Holdings Lessened by ARK Investment Management LLC

ARK Investment Management LLC trimmed its stake in shares of Cellebrite DI Ltd. (NASDAQ:CLBT) by 19.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 208,523 shares of the company’s stock after selling 48,977 shares during the period. ARK Investment Management LLC owned about 0.10% of Cellebrite DI worth $2,492,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of CLBT. Juncture Wealth Strategies LLC acquired a new stake in shares of Cellebrite DI during the second quarter valued at approximately $500,000. Harbor Capital Advisors Inc. boosted its position in shares of Cellebrite DI by 311.5% in the second quarter. Harbor Capital Advisors Inc. now owns 48,624 shares of the company’s stock worth $581,000 after buying an additional 36,808 shares during the period. Tidal Investments LLC purchased a new position in shares of Cellebrite DI during the first quarter valued at $654,000. California State Teachers Retirement System lifted its stake in Cellebrite DI by 9.1% in the 1st quarter. California State Teachers Retirement System now owns 56,953 shares of the company’s stock worth $631,000 after acquiring an additional 4,734 shares in the last quarter. Finally, Ashford Capital Management Inc. increased its position in Cellebrite DI by 23.5% in the 1st 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 last quarter. Institutional investors and hedge funds own 45.88% of the company’s stock.

Cellebrite DI Price Performance

Shares of NASDAQ:CLBT traded up $0.55 during trading on Tuesday, reaching $17.32. The stock had a trading volume of 1,306,643 shares, compared to its average volume of 1,143,317. The stock has a market capitalization of $3.57 billion, a PE ratio of -29.43, a P/E/G ratio of 1.75 and a beta of 1.50. Cellebrite DI Ltd. has a 52 week low of $6.36 and a 52 week high of $17.36. The business’s 50-day moving average price is $13.21 and its 200 day moving average price is $11.90.

Cellebrite DI (NASDAQ:CLBT) last posted its quarterly earnings data on Thursday, August 15th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.02. Cellebrite DI had a negative net margin of 28.51% and a positive return on equity of 5,902.06%. The firm had revenue of $95.70 million during the quarter, compared to analysts’ expectations of $91.94 million. During the same quarter last year, the company posted $0.05 EPS. The company’s quarterly revenue was up 24.8% compared to the same quarter last year. Analysts forecast that Cellebrite DI Ltd. will post 0.41 EPS for the current year.

Analysts Set New Price Targets

CLBT has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their price target on Cellebrite DI from $14.00 to $15.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Craig Hallum raised their price target on shares of Cellebrite DI from $16.00 to $20.00 and gave the company a “buy” rating in a report on Friday, August 16th. Bank of America raised their price objective on shares of Cellebrite DI from $13.00 to $17.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Needham & Company LLC increased their price target on shares of Cellebrite DI from $14.00 to $17.00 and gave the company a “buy” rating in a report on Friday, August 16th. Finally, Lake Street Capital lifted their target price on Cellebrite DI from $13.50 to $17.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $17.33.

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.