JPMorgan Chase & Co. Purchases 75,092 Shares of Cellebrite DI Ltd. (NASDAQ:CLBT)

JPMorgan Chase & Co. raised its holdings in shares of Cellebrite DI Ltd. (NASDAQ:CLBT) by 21.3% during the third quarter, Holdings Channel reports. The fund owned 427,655 shares of the company’s stock after buying an additional 75,092 shares during the period. JPMorgan Chase & Co.’s holdings in Cellebrite DI were worth $7,202,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in CLBT. Point72 Asia Singapore Pte. Ltd. grew its holdings in shares of Cellebrite DI by 59.6% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,724 shares of the company’s stock valued at $33,000 after purchasing an additional 1,017 shares during the last quarter. Tower View Wealth Management LLC grew its stake in shares of Cellebrite DI by 1.2% during the third quarter. Tower View Wealth Management LLC now owns 130,647 shares of the company’s stock valued at $2,200,000 after buying an additional 1,500 shares during the last quarter. Quarry LP purchased a new position in shares of Cellebrite DI in the third quarter worth about $27,000. Advisors Asset Management Inc. lifted its stake in shares of Cellebrite DI by 130.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 3,077 shares of the company’s stock valued at $52,000 after acquiring an additional 1,742 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its holdings in Cellebrite DI by 28.6% during the 3rd quarter. Venturi Wealth Management LLC now owns 9,000 shares of the company’s stock valued at $152,000 after acquiring an additional 2,000 shares during the period. 45.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CLBT. TD Cowen lifted their price target on 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. lifted 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 increased their price target on shares of Cellebrite DI from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Needham & Company LLC boosted their price objective on shares of Cellebrite DI from $17.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $20.57.

Cellebrite DI Stock Performance

Cellebrite DI stock opened at $22.28 on Wednesday. Cellebrite DI Ltd. has a fifty-two week low of $7.91 and a fifty-two week high of $22.91. The stock’s 50 day simple moving average is $20.52 and its two-hundred day simple moving average is $17.41. The stock has a market cap of $4.59 billion, a price-to-earnings ratio of -14.37, a PEG ratio of 2.71 and a beta of 1.46.

Cellebrite DI (NASDAQ:CLBT) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.05. The business had revenue of $106.90 million during the quarter, compared to the consensus estimate of $102.06 million. Cellebrite DI had a positive return on equity of 122.59% and a negative net margin of 82.28%. The firm’s quarterly 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, analysts predict that Cellebrite DI Ltd. will post 0.32 earnings per share for the current 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.