Stock Traders Purchase Large Volume of Cellebrite DI Call Options (NASDAQ:CLBT)

Cellebrite DI Ltd. (NASDAQ:CLBT) was the target of unusually large options trading activity on Tuesday. Traders acquired 20,138 call options on the company. This is an increase of approximately 2,374% compared to the typical daily volume of 814 call options.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on CLBT shares. JPMorgan Chase & Co. lowered 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. Needham & Company LLC reduced their target price on Cellebrite DI from $15.00 to $12.50 and set a “buy” rating on the stock in a research note on Friday, August 14th. DA Davidson reissued a “buy” rating and issued a $15.00 price target on shares of Cellebrite DI in a research note on Tuesday, September 15th. Lake Street Capital dropped their price target 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. Finally, Weiss Ratings downgraded Cellebrite DI from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, August 27th. Five analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $16.70.

Cellebrite DI Stock Up 0.5%

NASDAQ CLBT opened at $12.70 on Thursday. Cellebrite DI has a 52 week low of $9.58 and a 52 week high of $19.98. The company has a market capitalization of $3.17 billion, a P/E ratio of 45.14, a price-to-earnings-growth ratio of 1.94 and a beta of 1.06. The stock’s 50-day moving average price is $11.62 and its 200-day moving average price is $13.27.

Insider Activity

In other news, CRO Marcus Jewell sold 12,562 shares of Cellebrite DI stock in a transaction on Friday, August 21st. The shares were 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO David Barter sold 12,134 shares of Cellebrite DI stock in a transaction dated Friday, October 16th. The stock was sold at an average price of $11.21, for a total value of $136,022.14. Following the sale, the chief financial officer directly owned 322,085 shares of the company’s stock, valued at approximately $3,610,572.85. This trade represents a 3.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 56,516 shares of company stock valued at $636,660 in the last quarter. 5.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cellebrite DI

Several large investors have recently made changes to their positions in CLBT. Nine Ten Capital Management LLC lifted its holdings in 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 worth $60,251,000 after purchasing an additional 682,933 shares in the last quarter. Wellington Management Group LLP grew its holdings in Cellebrite DI by 93.7% during the 2nd quarter. Wellington Management Group LLP now owns 3,049,904 shares of the company’s stock valued at $44,529,000 after buying an additional 1,475,579 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Cellebrite DI by 14.7% during the 1st quarter. Renaissance Technologies LLC now owns 2,860,639 shares of the company’s stock valued at $39,420,000 after buying an additional 365,700 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of 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 buying an additional 545,334 shares during the last quarter. Finally, Weiss Asset Management LP raised its position in shares of Cellebrite DI by 3,485.3% during the first quarter. Weiss Asset Management LP now owns 1,899,841 shares of the company’s stock valued at $26,180,000 after buying an additional 1,846,851 shares during the last quarter. 45.88% of the stock is currently owned by hedge funds and other institutional investors.

Cellebrite DI Company Profile

Cellebrite DI Ltd. develops digital intelligence software and services that help organizations access, collect, preserve and analyze digital evidence. Its tools are used to investigate information from mobile devices, computers, cloud sources and other digital systems. The company’s offerings include its UFED platform for extracting data from digital devices, Physical Analyzer for examining and interpreting evidence, and analytics and case-management tools such as Pathfinder and Guardian. Customers include law enforcement, public safety, intelligence and defense agencies, as well as organizations in the private sector.