Granahan Investment Management LLC Has $23.97 Million Stake in Cellebrite DI Ltd. $CLBT

Granahan Investment Management LLC reduced its holdings in shares of Cellebrite DI Ltd. (NASDAQ:CLBT) by 43.1% in the 1st quarter, HoldingsChannel.com reports. The fund owned 1,739,644 shares of the company’s stock after selling 1,317,374 shares during the quarter. Cellebrite DI comprises approximately 1.2% of Granahan Investment Management LLC’s holdings, making the stock its 24th biggest position. Granahan Investment Management LLC’s holdings in Cellebrite DI were worth $23,972,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CLBT. Towarzystwo Funduszy Inwestycyjnych PZU SA raised its stake in Cellebrite DI by 81.0% in the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 1,900 shares of the company’s stock valued at $34,000 after acquiring an additional 850 shares during the period. Advisory Services Network LLC bought a new position in Cellebrite DI during the third quarter worth $40,000. CWM LLC increased its holdings in shares of Cellebrite DI by 57.0% in the fourth quarter. CWM LLC now owns 2,449 shares of the company’s stock valued at $44,000 after purchasing an additional 889 shares during the last quarter. First Horizon Corp increased its holdings in shares of Cellebrite DI by 421.8% in the fourth quarter. First Horizon Corp now owns 2,891 shares of the company’s stock valued at $52,000 after purchasing an additional 2,337 shares during the last quarter. Finally, Vestcor Inc bought a new position in shares of Cellebrite DI in the third quarter valued at about $70,000. 45.88% of the stock is owned by institutional investors and hedge funds.

Cellebrite DI Stock Performance

CLBT opened at $14.22 on Friday. Cellebrite DI Ltd. has a fifty-two week low of $11.02 and a fifty-two week high of $19.98. The company has a market capitalization of $3.55 billion, a P/E ratio of 50.79, a P/E/G ratio of 1.74 and a beta of 1.17. The stock has a fifty day moving average of $14.19 and a 200-day moving average of $14.31.

Insider Buying and Selling

In related news, CEO Thomas E. Hogan sold 103,188 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $15.76, for a total transaction of $1,626,242.88. Following the transaction, the chief executive officer directly owned 590,777 shares of the company’s stock, valued at approximately $9,310,645.52. This trade represents a 14.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Marcus Jewell sold 12,658 shares of Cellebrite DI stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $12.77, for a total transaction of $161,642.66. Following the completion of the sale, the executive owned 440,101 shares of the company’s stock, valued at $5,620,089.77. This trade represents a 2.80% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 158,191 shares of company stock valued at $2,479,438. 5.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

CLBT has been the subject of a number of research reports. Weiss Ratings upgraded shares of Cellebrite DI from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, May 18th. Needham & Company LLC decreased their price target on shares of Cellebrite DI from $18.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, May 15th. Finally, DA Davidson initiated coverage on shares of Cellebrite DI in a report on Wednesday, May 27th. They issued a “buy” rating and a $20.00 price target on the stock. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $21.40.

Cellebrite DI Profile

Cellebrite DI is a global provider of digital intelligence and forensics solutions that enable law enforcement agencies, government bodies and enterprises to extract, analyze and act on data from mobile devices, cloud services and digital sources. The company’s technology is designed to accelerate investigations, support evidence-based decision-making and enhance security operations by delivering actionable intelligence in a secure, scalable platform.

The company’s flagship offerings include the Universal Forensic Extraction Device (UFED) series for data acquisition and decoding, Physical Analyzer for advanced data parsing and visualization, and Pathfinder for case-driven investigation workflows.