Cannon Global Investment Management LLC purchased a new stake in Semrush Holdings, Inc. (NASDAQ:SEMR - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 29,700 shares of the company's stock, valued at approximately $353,000.
A number of other hedge funds have also bought and sold shares of the business. Magnetar Financial LLC boosted its holdings in Semrush by 6.3% in the 4th quarter. Magnetar Financial LLC now owns 15,653 shares of the company's stock valued at $186,000 after purchasing an additional 933 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Semrush by 10.6% during the fourth quarter. Principal Financial Group Inc. now owns 31,959 shares of the company's stock worth $380,000 after purchasing an additional 3,059 shares during the period. JPMorgan Chase & Co. raised its position in shares of Semrush by 0.8% in the third quarter. JPMorgan Chase & Co. now owns 386,991 shares of the company's stock valued at $6,080,000 after buying an additional 3,244 shares in the last quarter. US Bancorp DE boosted its stake in shares of Semrush by 2,127.2% in the fourth quarter. US Bancorp DE now owns 3,608 shares of the company's stock valued at $43,000 after buying an additional 3,446 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Semrush by 1.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 305,765 shares of the company's stock worth $3,632,000 after buying an additional 4,360 shares in the last quarter. 32.86% of the stock is owned by institutional investors.
Semrush Trading Down 2.7 %
NASDAQ SEMR traded down $0.27 during trading on Friday, hitting $9.59. 448,791 shares of the company's stock were exchanged, compared to its average volume of 536,927. The company has a market cap of $1.41 billion, a PE ratio of 119.83 and a beta of 1.77. Semrush Holdings, Inc. has a fifty-two week low of $9.21 and a fifty-two week high of $18.74. The stock's 50 day moving average price is $14.01 and its two-hundred day moving average price is $13.68.
Insider Buying and Selling
In other news, CEO Oleg Shchegolev sold 32,932 shares of Semrush stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $11.19, for a total transaction of $368,509.08. Following the sale, the chief executive officer now directly owns 7,268,282 shares of the company's stock, valued at approximately $81,332,075.58. This trade represents a 0.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Eugenie Levin sold 6,943 shares of the business's stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $11.74, for a total value of $81,510.82. Following the sale, the president now owns 580,549 shares in the company, valued at approximately $6,815,645.26. This trade represents a 1.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 266,702 shares of company stock worth $3,441,515 in the last three months. 57.83% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
Several equities analysts have weighed in on the company. Northland Securities initiated coverage on Semrush in a report on Tuesday, January 14th. They issued an "outperform" rating and a $18.00 price objective for the company. Needham & Company LLC reaffirmed a "buy" rating and issued a $18.00 price target on shares of Semrush in a research note on Wednesday, January 15th. Morgan Stanley upgraded shares of Semrush from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $17.00 to $20.00 in a research note on Monday, January 13th. Northland Capmk raised shares of Semrush to a "strong-buy" rating in a report on Tuesday, January 14th. Finally, The Goldman Sachs Group cut their price target on shares of Semrush from $14.00 to $12.00 and set a "neutral" rating for the company in a report on Friday. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Semrush has a consensus rating of "Buy" and an average price target of $18.14.
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Semrush Profile
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Free Report)
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.
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