ARK Investment Management LLC reduced its stake in Similarweb Ltd. (NYSE:SMWB - Free Report) by 26.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 203,674 shares of the company's stock after selling 72,423 shares during the quarter. ARK Investment Management LLC owned about 0.25% of Similarweb worth $2,886,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently modified their holdings of the company. P.A.W. Capital Corp bought a new position in Similarweb in the third quarter valued at about $3,536,000. State of New Jersey Common Pension Fund D purchased a new stake in shares of Similarweb during the 3rd quarter valued at about $122,000. Oppenheimer & Co. Inc. lifted its stake in shares of Similarweb by 9.8% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 106,607 shares of the company's stock worth $942,000 after purchasing an additional 9,555 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Similarweb by 112.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 449,896 shares of the company's stock worth $3,977,000 after buying an additional 238,428 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new stake in Similarweb during the third quarter valued at approximately $75,000. Hedge funds and other institutional investors own 57.59% of the company's stock.
Similarweb Stock Up 0.8 %
Shares of NYSE SMWB traded up $0.08 during trading on Friday, hitting $9.49. The company had a trading volume of 527,116 shares, compared to its average volume of 893,863. The firm has a market capitalization of $767.52 million, a price-to-earnings ratio of -67.75 and a beta of 0.99. The stock has a fifty day simple moving average of $14.15 and a two-hundred day simple moving average of $11.48. Similarweb Ltd. has a fifty-two week low of $5.71 and a fifty-two week high of $17.64.
Similarweb (NYSE:SMWB - Get Free Report) last posted its quarterly earnings results on Tuesday, February 11th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.10). Similarweb had a negative return on equity of 47.62% and a negative net margin of 4.58%. On average, analysts anticipate that Similarweb Ltd. will post -0.24 earnings per share for the current year.
Analyst Upgrades and Downgrades
SMWB has been the topic of several analyst reports. Needham & Company LLC reiterated a "buy" rating and set a $14.00 price target on shares of Similarweb in a research note on Thursday, February 13th. Citigroup upped their price target on Similarweb from $14.00 to $22.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. The Goldman Sachs Group started coverage on shares of Similarweb in a report on Wednesday, December 11th. They set a "buy" rating and a $16.00 price target on the stock. JMP Securities reissued a "market outperform" rating and issued a $17.00 price objective on shares of Similarweb in a research note on Thursday, February 13th. Finally, Northland Securities raised their price objective on shares of Similarweb from $17.00 to $20.00 and gave the company an "outperform" rating in a research report on Friday, January 24th. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $16.50.
Read Our Latest Stock Report on SMWB
About Similarweb
(
Free Report)
Similarweb Ltd. provides cloud-based digital intelligence solutions in the United States, Europe, the Asia Pacific, the United Kingdom, Israel, and internationally. The company offers digital research intelligence solutions for its customers to benchmark performance against competitors and market leaders, analyze trends in the market, conduct deeper research into specific companies, and analyze audience behavior; and digital marketing intelligence solutions for its customers to understand their competitors' online acquisition strategies in each marketing channel, and optimize their own strategies.
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