Harbor Capital Advisors Inc. Sells 35,617 Shares of Cellebrite DI Ltd. (NASDAQ:CLBT)

Harbor Capital Advisors Inc. lowered its stake in Cellebrite DI Ltd. (NASDAQ:CLBT) by 22.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 122,054 shares of the company’s stock after selling 35,617 shares during the period. Harbor Capital Advisors Inc. owned 0.05% of Cellebrite DI worth $2,372,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in CLBT. Bosun Asset Management LLC lifted its stake in shares of Cellebrite DI by 1.4% in the 4th quarter. Bosun Asset Management LLC now owns 43,307 shares of the company’s stock valued at $954,000 after acquiring an additional 584 shares during the last quarter. TD Waterhouse Canada Inc. increased its holdings in Cellebrite DI by 1.8% in the 4th quarter. TD Waterhouse Canada Inc. now owns 47,497 shares of the company’s stock worth $1,046,000 after purchasing an additional 859 shares in the last quarter. Strategic Advisors LLC increased its holdings in Cellebrite DI by 3.4% in the 4th quarter. Strategic Advisors LLC now owns 29,082 shares of the company’s stock worth $641,000 after purchasing an additional 950 shares in the last quarter. Steward Partners Investment Advisory LLC raised its position in Cellebrite DI by 12.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 13,590 shares of the company’s stock valued at $299,000 after purchasing an additional 1,463 shares during the last quarter. Finally, Tower View Wealth Management LLC boosted its stake in shares of Cellebrite DI by 1.3% during the fourth quarter. Tower View Wealth Management LLC now owns 132,307 shares of the company’s stock valued at $2,915,000 after purchasing an additional 1,660 shares in the last quarter. Institutional investors and hedge funds own 45.88% of the company’s stock.

Cellebrite DI Price Performance

Cellebrite DI stock opened at $16.16 on Thursday. The stock’s 50 day moving average is $18.21 and its 200 day moving average is $20.00. Cellebrite DI Ltd. has a one year low of $11.47 and a one year high of $26.30. The firm has a market cap of $3.87 billion, a P/E ratio of -11.63, a P/E/G ratio of 4.27 and a beta of 1.32.

Cellebrite DI (NASDAQ:CLBT) last released its quarterly earnings results on Wednesday, May 14th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. Cellebrite DI had a negative net margin of 70.54% and a positive return on equity of 58.70%. The firm had revenue of $107.55 million during the quarter, compared to analyst estimates of $109.36 million. During the same quarter last year, the business earned $0.08 EPS. The company’s revenue was up 20.0% compared to the same quarter last year. Equities analysts anticipate that Cellebrite DI Ltd. will post 0.3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Needham & Company LLC restated a “buy” rating and set a $24.00 price target on shares of Cellebrite DI in a report on Friday, June 6th. Lake Street Capital lifted their target price on shares of Cellebrite DI from $17.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Cellebrite DI from $29.00 to $25.00 and set an “overweight” rating for the company in a research report on Monday, May 12th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, Cellebrite DI currently has an average rating of “Buy” and an average target price of $22.43.

Cellebrite DI 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.