Parthenon LLC Buys 74,334 Shares of Cellebrite DI Ltd. $CLBT

Parthenon LLC bought a new stake in shares of Cellebrite DI Ltd. (NASDAQ:CLBT) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 74,334 shares of the company’s stock, valued at approximately $837,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Nine Ten Capital Management LLC lifted its holdings in shares of Cellebrite DI by 19.8% in the 2nd quarter. Nine Ten Capital Management LLC now owns 4,126,808 shares of the company’s stock valued at $60,251,000 after buying an additional 682,933 shares during the period. Wellington Management Group LLP grew its holdings in Cellebrite DI by 93.7% during the second quarter. Wellington Management Group LLP now owns 3,049,904 shares of the company’s stock worth $44,529,000 after acquiring an additional 1,475,579 shares during the period. Renaissance Technologies LLC grew its holdings in Cellebrite DI by 14.7% during the first quarter. Renaissance Technologies LLC now owns 2,860,639 shares of the company’s stock worth $39,420,000 after acquiring an additional 365,700 shares during the period. Principal Financial Group Inc. raised its position in Cellebrite DI by 33.9% during the first quarter. Principal Financial Group Inc. now owns 2,156,166 shares of the company’s stock valued at $29,712,000 after acquiring an additional 545,334 shares in the last quarter. Finally, Meitav Investment House Ltd. raised its position in Cellebrite DI by 34.4% during the first quarter. Meitav Investment House Ltd. now owns 1,954,846 shares of the company’s stock valued at $26,938,000 after acquiring an additional 500,000 shares in the last quarter. 45.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Cellebrite DI Stock Up 2.6%

Shares of CLBT stock traded up $0.31 during mid-day trading on Friday, hitting $12.10. 1,393,646 shares of the stock were exchanged, compared to its average volume of 2,009,846. Cellebrite DI Ltd. has a 52-week low of $9.58 and a 52-week high of $19.98. The company has a market cap of $3.02 billion, a PE ratio of 55.00, a price-to-earnings-growth ratio of 1.81 and a beta of 1.14. The firm has a fifty day moving average of $11.40 and a 200 day moving average of $13.02.

Insiders Place Their Bets

In other Cellebrite DI news, CEO Thomas 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 transaction of $2,150,183.07. Following the transaction, the chief executive officer owned 790,548 shares in the company, valued at approximately $12,166,533.72. This represents a 15.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CMO David Gee sold 4,323 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $11.36, for a total value of $49,109.28. Following the completion of the sale, the chief marketing officer directly owned 135,281 shares in the company, valued at approximately $1,536,792.16. The trade was a 3.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 196,870 shares of company stock worth $2,797,143. 5.70% of the stock is owned by company insiders.

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.