Insider Selling: Cellebrite DI (NASDAQ:CLBT) CFO Sells 12,134 Shares of Company Stock

Cellebrite DI Ltd. (NASDAQ:CLBT) CFO David Barter sold 12,134 shares of Cellebrite DI stock in a transaction that occurred on Friday, October 16th. The shares were sold at an average price of $11.21, for a total transaction of $136,022.14. Following the transaction, the chief financial officer owned 322,085 shares of the company’s stock, valued at $3,610,572.85. The trade was a 3.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Cellebrite DI Price Performance

Cellebrite DI stock opened at $11.03 on Monday. The business has a 50-day simple moving average of $11.62 and a two-hundred day simple moving average of $13.10. The company has a market cap of $2.75 billion, a P/E ratio of 50.14, a P/E/G ratio of 1.69 and a beta of 1.14. Cellebrite DI Ltd. has a 52-week low of $9.58 and a 52-week high of $19.98.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CLBT. Weiss Ratings lowered shares of Cellebrite DI from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, August 27th. JPMorgan Chase & Co. dropped their price target on shares of Cellebrite DI from $20.00 to $16.00 and set an “overweight” rating on the stock in a research note on Friday, August 14th. Needham & Company LLC cut their price objective on shares of Cellebrite DI from $15.00 to $12.50 and set a “buy” rating for the company in a research report on Friday, August 14th. Lake Street Capital cut their price objective on shares of Cellebrite DI from $21.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, August 14th. Finally, DA Davidson restated a “buy” rating and issued a $15.00 price objective on shares of Cellebrite DI in a research note on Tuesday, September 15th. Five research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $16.70.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Blue Trust Inc. grew its stake in shares of Cellebrite DI by 5.6% during the 1st quarter. Blue Trust Inc. now owns 24,790 shares of the company’s stock valued at $342,000 after acquiring an additional 1,325 shares during the period. Venturi Wealth Management LLC raised its stake in Cellebrite DI by 17.0% during the 1st quarter. Venturi Wealth Management LLC now owns 17,200 shares of the company’s stock worth $237,000 after acquiring an additional 2,500 shares during the period. PNC Financial Services Group Inc. raised its stake in Cellebrite DI by 59.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,456 shares of the company’s stock worth $103,000 after acquiring an additional 2,785 shares during the period. Pictet Asset Management Holding SA lifted its holdings in Cellebrite DI by 18.2% during the first quarter. Pictet Asset Management Holding SA now owns 18,172 shares of the company’s stock valued at $250,000 after purchasing an additional 2,803 shares in the last quarter. Finally, Elevation Wealth Partners LLC boosted its position in shares of Cellebrite DI by 93.3% in the third quarter. Elevation Wealth Partners LLC now owns 5,833 shares of the company’s stock worth $66,000 after purchasing an additional 2,816 shares during the period. 45.88% of the stock is owned by hedge funds and other institutional investors.

About Cellebrite DI

Cellebrite DI Ltd. is a digital intelligence company that develops technology for collecting, managing and analyzing digital evidence. Its solutions are designed to help law enforcement agencies, public safety organizations, government bodies and enterprises investigate activity involving mobile devices, computers, cloud services and other digital sources.

The company’s product portfolio includes tools for mobile-device extraction and digital forensics, investigative analytics, evidence management and collaboration.