Scalar Gauge Management LLC Sells 136,344 Shares of Cellebrite DI Ltd. (NASDAQ:CLBT)

Scalar Gauge Management LLC reduced its holdings in shares of Cellebrite DI Ltd. (NASDAQ:CLBT) by 30.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 317,210 shares of the company’s stock after selling 136,344 shares during the quarter. Cellebrite DI accounts for about 2.8% of Scalar Gauge Management LLC’s holdings, making the stock its 11th biggest holding. Scalar Gauge Management LLC owned approximately 0.15% of Cellebrite DI worth $5,342,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in CLBT. FMR LLC raised its position in shares of Cellebrite DI by 136.3% in the 3rd quarter. FMR LLC now owns 5,616,757 shares of the company’s stock worth $94,586,000 after acquiring an additional 3,239,307 shares in the last quarter. Meitav Investment House Ltd. boosted its holdings in Cellebrite DI by 29.7% during the 3rd quarter. Meitav Investment House Ltd. now owns 2,066,322 shares of the company’s stock worth $34,797,000 after acquiring an additional 473,293 shares during the last quarter. Pembroke Management LTD boosted its holdings in Cellebrite DI by 24.3% during the third quarter. Pembroke Management LTD now owns 1,908,345 shares of the company’s stock worth $32,137,000 after purchasing an additional 372,619 shares during the last quarter. Principal Financial Group Inc. purchased a new stake in shares of Cellebrite DI during the third quarter valued at approximately $23,402,000. Finally, Renaissance Technologies LLC raised its stake in shares of Cellebrite DI by 22.1% during the 2nd quarter. Renaissance Technologies LLC now owns 1,183,700 shares of the company’s stock worth $14,145,000 after purchasing an additional 214,600 shares during the period. 45.88% of the stock is currently owned by institutional investors and hedge funds.

Cellebrite DI Price Performance

Shares of NASDAQ CLBT opened at $20.18 on Friday. The stock has a market capitalization of $4.16 billion, a P/E ratio of -13.02, a PEG ratio of 2.71 and a beta of 1.50. Cellebrite DI Ltd. has a one year low of $7.91 and a one year high of $21.00. The firm’s 50 day simple moving average is $18.22 and its two-hundred day simple moving average is $15.13.

Cellebrite DI (NASDAQ:CLBT) last issued its earnings results on Wednesday, November 6th. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.05. Cellebrite DI had a negative net margin of 82.28% and a positive return on equity of 122.59%. The company had revenue of $106.90 million for the quarter, compared to analysts’ expectations of $102.06 million. During the same quarter last year, the company earned $0.09 EPS. The firm’s revenue was up 27.0% compared to the same quarter last year. As a group, equities analysts expect that Cellebrite DI Ltd. will post 0.32 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on CLBT shares. Lake Street Capital upped their price target on shares of Cellebrite DI from $13.50 to $17.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Needham & Company LLC boosted their target price on Cellebrite DI from $17.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Craig Hallum raised their price target on Cellebrite DI from $23.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. upped their price objective on shares of Cellebrite DI from $21.00 to $22.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Finally, TD Cowen lifted their target price on shares of Cellebrite DI from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $20.29.

About Cellebrite DI

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.