Principal Financial Group Inc. Acquires Shares of 1,389,654 Cellebrite DI Ltd. (NASDAQ:CLBT)

Principal Financial Group Inc. bought a new position in shares of Cellebrite DI Ltd. (NASDAQ:CLBT) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,389,654 shares of the company’s stock, valued at approximately $23,402,000. Principal Financial Group Inc. owned approximately 0.67% of Cellebrite DI as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Janney Montgomery Scott LLC lifted its holdings in Cellebrite DI by 240.1% during the first quarter. Janney Montgomery Scott LLC now owns 45,300 shares of the company’s stock worth $502,000 after acquiring an additional 31,981 shares during the period. SG Americas Securities LLC boosted its holdings in shares of Cellebrite DI by 34.8% in the 1st quarter. SG Americas Securities LLC now owns 51,881 shares of the company’s stock worth $575,000 after buying an additional 13,392 shares during the last quarter. Sei Investments Co. boosted its holdings in shares of Cellebrite DI by 44.7% in the 1st quarter. Sei Investments Co. now owns 121,166 shares of the company’s stock worth $1,343,000 after buying an additional 37,408 shares during the last quarter. Russell Investments Group Ltd. grew its position in Cellebrite DI by 92.5% during the first quarter. Russell Investments Group Ltd. now owns 16,649 shares of the company’s stock valued at $188,000 after buying an additional 8,001 shares during the period. Finally, Acadian Asset Management LLC increased its holdings in Cellebrite DI by 26.8% during the first quarter. Acadian Asset Management LLC now owns 2,896,497 shares of the company’s stock worth $32,062,000 after buying an additional 612,787 shares during the last quarter. Hedge funds and other institutional investors own 45.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CLBT. Craig Hallum increased their target price on shares of Cellebrite DI from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Needham & Company LLC increased their price objective on Cellebrite DI from $17.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. raised their target price on Cellebrite DI from $21.00 to $22.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Bank of America upped their price target on Cellebrite DI from $13.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Finally, Lake Street Capital lifted their price objective on Cellebrite DI from $13.50 to $17.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $20.29.

Cellebrite DI Stock Performance

Shares of CLBT opened at $17.81 on Thursday. Cellebrite DI Ltd. has a 52-week low of $7.61 and a 52-week high of $21.00. The stock’s 50-day simple moving average is $17.68 and its 200 day simple moving average is $14.45. The stock has a market capitalization of $3.67 billion, a price-to-earnings ratio of -11.49, a price-to-earnings-growth ratio of 2.61 and a beta of 1.50.

Cellebrite DI (NASDAQ:CLBT) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.05. The company had revenue of $106.90 million during the quarter, compared to analyst estimates of $102.06 million. Cellebrite DI had a negative net margin of 82.28% and a positive return on equity of 122.59%. Cellebrite DI’s revenue was up 27.0% compared to the same quarter last year. During the same period last year, the business earned $0.09 earnings per share. On average, research analysts forecast that Cellebrite DI Ltd. will post 0.31 earnings per share for the current fiscal year.

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.