Semrush Holdings, Inc. (NASDAQ:SEMR) Shares Bought by Algert Global LLC

Algert Global LLC boosted its holdings in shares of Semrush Holdings, Inc. (NASDAQ:SEMR - Free Report) by 94.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 165,552 shares of the company's stock after purchasing an additional 80,621 shares during the period. Algert Global LLC owned approximately 0.11% of Semrush worth $2,601,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of SEMR. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Semrush during the first quarter worth about $543,000. VELA Investment Management LLC acquired a new stake in Semrush during the 3rd quarter worth approximately $701,000. Cubist Systematic Strategies LLC purchased a new position in shares of Semrush in the 2nd quarter valued at approximately $3,006,000. Renaissance Technologies LLC acquired a new position in shares of Semrush in the second quarter valued at approximately $3,732,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Semrush during the second quarter worth approximately $654,000. 32.86% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on SEMR shares. JPMorgan Chase & Co. lifted their price objective on shares of Semrush from $16.00 to $17.00 and gave the company an "overweight" rating in a research report on Wednesday, October 2nd. The Goldman Sachs Group raised their target price on shares of Semrush from $14.00 to $16.00 and gave the stock a "neutral" rating in a research note on Monday, October 7th. KeyCorp boosted their price target on shares of Semrush from $19.00 to $21.00 and gave the stock an "overweight" rating in a research note 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 investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, Semrush currently has a consensus rating of "Moderate Buy" and an average price target of $16.50.

Insiders Place Their Bets

In other Semrush news, COO Vitalii Obishchenko sold 55,000 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $13.43, for a total transaction of $738,650.00. Following the transaction, the chief operating officer now owns 848,923 shares of the company's stock, valued at $11,401,035.89. This represents a 6.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CMO Andrew Warden sold 3,953 shares of Semrush stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $14.73, for a total value of $58,227.69. Following the completion of the sale, the chief marketing officer now directly owns 257,364 shares of the company's stock, valued at approximately $3,790,971.72. This represents a 1.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 164,123 shares of company stock valued at $2,320,088 in the last ninety days. Insiders own 57.83% of the company's stock.

Semrush Price Performance

Shares of SEMR stock traded down $0.42 during midday trading on Wednesday, reaching $13.42. 376,056 shares of the company traded hands, compared to its average volume of 506,648. The firm has a market cap of $1.97 billion, a PE ratio of 168.90 and a beta of 1.62. Semrush Holdings, Inc. has a 1-year low of $9.64 and a 1-year high of $16.42. The firm's 50 day simple moving average is $13.89 and its two-hundred day simple moving average is $14.05.

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.