Semrush Holdings, Inc. (NASDAQ:SEMR – Get Rating) traded down 7.9% during trading on Wednesday after Piper Sandler lowered their price target on the stock from $16.00 to $14.00. The company traded as low as $9.22 and last traded at $9.22. 1,435 shares changed hands during trading, a decline of 99% from the average session volume of 136,119 shares. The stock had previously closed at $10.01.
Separately, Morgan Stanley upped their price objective on shares of Semrush from $13.00 to $16.00 and gave the company an “equal weight” rating in a report on Friday, August 12th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.33.
Insider Buying and Selling at Semrush
In other news, CEO Oleg Shchegolev sold 9,660 shares of the firm’s stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $13.29, for a total value of $128,381.40. Following the completion of the transaction, the chief executive officer now directly owns 1,626,570 shares in the company, valued at $21,617,115.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, COO Dmitry Melnikov sold 5,890 shares of the stock in a transaction on Thursday, October 6th. The shares were sold at an average price of $12.63, for a total value of $74,390.70. Following the transaction, the chief operating officer now owns 94,110 shares of the company’s stock, valued at approximately $1,188,609.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Oleg Shchegolev sold 9,660 shares of Semrush stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $13.29, for a total value of $128,381.40. Following the sale, the chief executive officer now directly owns 1,626,570 shares of the company’s stock, valued at approximately $21,617,115.30. The disclosure for this sale can be found here. Insiders sold 107,640 shares of company stock valued at $1,310,356 in the last quarter. 61.90% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Semrush
A number of large investors have recently modified their holdings of SEMR. Sandy Cove Advisors LLC bought a new position in Semrush during the first quarter valued at approximately $119,000. Wealthsource Partners LLC grew its holdings in shares of Semrush by 22.3% during the 1st quarter. Wealthsource Partners LLC now owns 13,510 shares of the company’s stock valued at $161,000 after purchasing an additional 2,460 shares during the last quarter. GSA Capital Partners LLP purchased a new position in Semrush in the 1st quarter worth $454,000. JPMorgan Chase & Co. lifted its stake in Semrush by 30.8% in the first quarter. JPMorgan Chase & Co. now owns 319,225 shares of the company’s stock worth $3,811,000 after purchasing an additional 75,085 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Semrush by 30.1% during the first quarter. Bank of New York Mellon Corp now owns 23,493 shares of the company’s stock valued at $281,000 after buying an additional 5,433 shares during the period. 24.23% of the stock is owned by hedge funds and other institutional investors.
Semrush Price Performance
The stock has a 50 day moving average price of $11.59 and a 200-day moving average price of $11.73. The stock has a market capitalization of $1.30 billion, a P/E ratio of -58.88 and a beta of 0.88.
Semrush Company Profile
Semrush Holdings, Inc develops an online visibility management software-as-a-service platform worldwide. The company enables companies to identify and reach the right audience for their content through the right channels. Its platform enables the company’s customers to understand trends and act upon insights to enhance the online visibility, and drive traffic to their websites and social media pages, as well as online listings, distribute targeted content to their customers, and measure the digital marketing campaigns.