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

Scalar Gauge Management LLC decreased its position in Cellebrite DI Ltd. (NASDAQ:CLBT) by 30.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 317,210 shares of the company’s stock after selling 136,344 shares during the quarter. Cellebrite DI makes up 2.8% of Scalar Gauge Management LLC’s investment portfolio, making the stock its 11th largest position. Scalar Gauge Management LLC’s holdings in Cellebrite DI were worth $5,342,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of CLBT. Point72 Asia Singapore Pte. Ltd. boosted its holdings in Cellebrite DI by 59.6% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,724 shares of the company’s stock valued at $33,000 after acquiring an additional 1,017 shares in the last quarter. Advisors Asset Management Inc. lifted its position in shares of Cellebrite DI by 130.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 3,077 shares of the company’s stock worth $52,000 after purchasing an additional 1,742 shares during the period. Pathway Financial Advisers LLC boosted its stake in shares of Cellebrite DI by 1,583.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 4,378 shares of the company’s stock valued at $74,000 after purchasing an additional 4,118 shares in the last quarter. Public Employees Retirement Association of Colorado purchased a new position in shares of Cellebrite DI during the second quarter valued at about $71,000. Finally, nVerses Capital LLC bought a new position in Cellebrite DI in the second quarter worth about $103,000. 45.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CLBT has been the topic of several research reports. Bank of America lifted their price objective on Cellebrite DI from $13.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Needham & Company LLC upped their price target on Cellebrite DI from $17.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft raised their price objective on Cellebrite DI from $15.00 to $18.00 and gave the company a “buy” rating in a research report on Friday, August 16th. TD Cowen increased their price target on shares of Cellebrite DI from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Finally, Lake Street Capital lifted their price target on shares of Cellebrite DI from $13.50 to $17.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $20.29.

Cellebrite DI Price Performance

CLBT opened at $20.18 on Friday. The firm has a market cap of $4.16 billion, a PE ratio of -13.02, a P/E/G ratio of 2.71 and a beta of 1.50. The stock has a 50-day moving average price of $18.22 and a 200-day moving average price of $15.13. Cellebrite DI Ltd. has a 1 year low of $7.91 and a 1 year high of $21.00.

Cellebrite DI (NASDAQ:CLBT) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.05. The business 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 EPS. As a group, sell-side analysts anticipate that Cellebrite DI Ltd. will post 0.32 EPS for the current 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.