Semrush Holdings, Inc. (NASDAQ:SEMR – Get Free Report) dropped 5.2% during trading on Wednesday after Piper Sandler lowered their price target on the stock from $14.00 to $12.00. Piper Sandler currently has a neutral rating on the stock. Semrush traded as low as $10.16 and last traded at $10.32. Approximately 592,544 shares traded hands during trading, an increase of 3% from the average daily volume of 576,322 shares. The stock had previously closed at $10.89.
Several other equities research analysts have also commented on SEMR. Jefferies Financial Group upgraded shares of Semrush from a “hold” rating to a “buy” rating and boosted their target price for the stock from $9.00 to $15.00 in a research report on Wednesday, February 7th. The Goldman Sachs Group boosted their price objective on shares of Semrush from $10.00 to $12.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 23rd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $15.00 price objective on shares of Semrush in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $12.80.
Insiders Place Their Bets
In other Semrush news, President Eugenie Levin sold 40,921 shares of Semrush stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $12.48, for a total value of $510,694.08. Following the completion of the sale, the president now directly owns 271,285 shares of the company’s stock, valued at approximately $3,385,636.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Oleg Shchegolev sold 4,600 shares of Semrush stock in a transaction on Friday, December 8th. The shares were sold at an average price of $11.51, for a total transaction of $52,946.00. Following the transaction, the chief executive officer now owns 3,495,568 shares in the company, valued at approximately $40,233,987.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Eugenie Levin sold 40,921 shares of the business’s stock in a transaction on Monday, January 8th. The stock was sold at an average price of $12.48, for a total transaction of $510,694.08. Following the completion of the transaction, the president now owns 271,285 shares in the company, valued at approximately $3,385,636.80. The disclosure for this sale can be found here. In the last three months, insiders sold 402,050 shares of company stock valued at $4,829,264. Company insiders own 60.76% of the company’s stock.
Hedge Funds Weigh In On Semrush
Institutional investors have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. acquired a new position in Semrush in the 2nd quarter worth $25,000. Ensign Peak Advisors Inc bought a new stake in shares of Semrush in the 3rd quarter worth about $37,000. FMR LLC increased its position in shares of Semrush by 1,232.8% in the 1st quarter. FMR LLC now owns 3,905 shares of the company’s stock worth $39,000 after purchasing an additional 3,612 shares during the last quarter. Harbor Capital Advisors Inc. increased its position in shares of Semrush by 33.4% in the 4th quarter. Harbor Capital Advisors Inc. now owns 5,503 shares of the company’s stock worth $75,000 after purchasing an additional 1,378 shares during the last quarter. Finally, UBS Group AG grew its position in shares of Semrush by 260.7% during the 3rd quarter. UBS Group AG now owns 6,861 shares of the company’s stock valued at $77,000 after buying an additional 4,959 shares during the last quarter. Institutional investors and hedge funds own 32.86% of the company’s stock.
Semrush Trading Down 5.0 %
The business’s 50-day moving average is $12.31 and its two-hundred day moving average is $10.43. The firm has a market cap of $1.48 billion, a P/E ratio of 1,018.02 and a beta of 1.56.
About Semrush
Semrush Holdings, Inc develops an online visibility management software-as-a-service platform in the United States, the United Kingdom, and internationally. 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.