Connor Clark & Lunn Investment Management Ltd. Has $3.98 Million Stock Position in Similarweb Ltd. (NYSE:SMWB)

Connor Clark & Lunn Investment Management Ltd. increased its stake in Similarweb Ltd. (NYSE:SMWB - Free Report) by 112.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 449,896 shares of the company's stock after purchasing an additional 238,428 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.56% of Similarweb worth $3,977,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Inspire Investing LLC acquired a new position in Similarweb during the 3rd quarter valued at about $886,000. Scalar Gauge Management LLC grew its position in Similarweb by 56.8% in the 2nd quarter. Scalar Gauge Management LLC now owns 593,923 shares of the company's stock valued at $4,615,000 after buying an additional 215,221 shares in the last quarter. Cubist Systematic Strategies LLC increased its stake in Similarweb by 4.4% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 51,272 shares of the company's stock valued at $398,000 after buying an additional 2,138 shares during the period. Acadian Asset Management LLC raised its position in shares of Similarweb by 60.8% during the 2nd quarter. Acadian Asset Management LLC now owns 442,917 shares of the company's stock worth $3,427,000 after buying an additional 167,500 shares in the last quarter. Finally, P.A.W. Capital Corp acquired a new stake in shares of Similarweb in the 3rd quarter worth approximately $3,536,000. Institutional investors own 57.59% of the company's stock.

Similarweb Stock Up 0.6 %

Shares of Similarweb stock traded up $0.07 during midday trading on Friday, hitting $12.57. The company's stock had a trading volume of 338,876 shares, compared to its average volume of 419,808. Similarweb Ltd. has a 1-year low of $4.58 and a 1-year high of $12.89. The firm has a market capitalization of $1.02 billion, a P/E ratio of -114.27 and a beta of 0.84. The stock has a 50-day simple moving average of $9.38 and a 200-day simple moving average of $8.33.

Analyst Ratings Changes

Several analysts have recently weighed in on SMWB shares. Needham & Company LLC upped their price objective on Similarweb from $11.00 to $14.00 and gave the company a "buy" rating in a report on Thursday, November 14th. Northland Capmk raised shares of Similarweb to a "strong-buy" rating in a research note on Tuesday, September 10th. William Blair reissued an "outperform" rating on shares of Similarweb in a research note on Monday, September 9th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $10.00 price target on shares of Similarweb in a report on Wednesday, August 7th. Finally, Citigroup increased their price objective on Similarweb from $10.00 to $14.00 and gave the company a "buy" rating in a research report on Thursday, November 14th. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $12.86.

About Similarweb

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.