38,707 Shares in Semrush Holdings, Inc. (NASDAQ:SEMR) Purchased by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd bought a new position in shares of Semrush Holdings, Inc. (NASDAQ:SEMR - Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 38,707 shares of the company's stock, valued at approximately $608,000.

Other hedge funds also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. acquired a new stake in Semrush during the 2nd quarter worth about $123,000. Summit Global Investments acquired a new stake in shares of Semrush in the second quarter worth $156,000. DRW Securities LLC purchased a new position in shares of Semrush during the third quarter worth $157,000. Olympiad Research LP acquired a new position in Semrush during the third quarter valued at $159,000. Finally, Versor Investments LP purchased a new stake in Semrush in the second quarter valued at $174,000. 32.86% of the stock is owned by institutional investors and hedge funds.

Semrush Stock Down 3.8 %

Shares of SEMR stock traded down $0.53 during trading hours on Friday, hitting $13.30. 508,035 shares of the company's stock were exchanged, compared to its average volume of 488,084. The firm has a 50 day moving average of $13.58 and a two-hundred day moving average of $13.87. Semrush Holdings, Inc. has a fifty-two week low of $9.64 and a fifty-two week high of $16.42. The firm has a market cap of $1.95 billion, a P/E ratio of 166.27 and a beta of 1.59.

Insiders Place Their Bets

In related news, President Eugenie Levin sold 3,788 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $14.12, for a total value of $53,486.56. Following the completion of the transaction, the president now directly owns 601,892 shares of the company's stock, valued at approximately $8,498,715.04. This represents a 0.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark Vranesh sold 7,500 shares of Semrush stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $15.51, for a total transaction of $116,325.00. Following the sale, the director now directly owns 113,731 shares in the company, valued at approximately $1,763,967.81. This trade represents a 6.19 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 99,112 shares of company stock worth $1,441,084. Company insiders own 57.83% of the company's stock.

Analyst Upgrades and Downgrades

SEMR has been the subject of several analyst reports. The Goldman Sachs Group boosted their price objective on Semrush from $14.00 to $16.00 and gave the company a "neutral" rating in a report on Monday, October 7th. JPMorgan Chase & Co. upped their price objective on Semrush from $16.00 to $17.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 2nd. KeyCorp lifted their target price on shares of Semrush from $19.00 to $21.00 and gave the company an "overweight" rating in a report on Wednesday, October 2nd. Finally, Needham & Company LLC reissued a "buy" rating and set a $18.00 price target on shares of Semrush in a report on Monday, November 11th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Semrush currently has an average rating of "Moderate Buy" and an average target price of $16.50.

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.