Similarweb Ltd. (NYSE:SMWB) Shares Sold by Essex Investment Management Co. LLC

Essex Investment Management Co. LLC decreased its stake in shares of Similarweb Ltd. (NYSE:SMWB - Free Report) by 13.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 264,820 shares of the company's stock after selling 40,529 shares during the quarter. Essex Investment Management Co. LLC owned approximately 0.33% of Similarweb worth $3,752,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in SMWB. Global Retirement Partners LLC bought a new position in shares of Similarweb during the 4th quarter worth $29,000. New York State Common Retirement Fund purchased a new stake in Similarweb in the fourth quarter worth about $39,000. Public Employees Retirement System of Ohio bought a new position in Similarweb during the 3rd quarter worth about $70,000. Heck Capital Advisors LLC bought a new position in Similarweb during the 4th quarter worth about $115,000. Finally, Quantbot Technologies LP purchased a new position in Similarweb during the 3rd quarter valued at about $75,000. 57.59% of the stock is owned by hedge funds and other institutional investors.

Similarweb Stock Performance

SMWB stock traded down $0.24 on Thursday, hitting $8.65. 439,681 shares of the company's stock were exchanged, compared to its average volume of 825,756. The firm has a 50 day moving average price of $13.20 and a two-hundred day moving average price of $11.49. Similarweb Ltd. has a 12-month low of $5.71 and a 12-month high of $17.64. The stock has a market cap of $714.65 million, a P/E ratio of -61.78 and a beta of 1.08.

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Similarweb (NYSE:SMWB - Get Free Report) last posted its quarterly earnings data on Tuesday, February 11th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.10). Similarweb had a negative net margin of 4.58% and a negative return on equity of 47.62%. Sell-side analysts expect that Similarweb Ltd. will post -0.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SMWB has been the subject of several research reports. The Goldman Sachs Group initiated coverage on shares of Similarweb in a research report on Wednesday, December 11th. They issued a "buy" rating and a $16.00 price target for the company. Jefferies Financial Group upped their target price on Similarweb from $13.00 to $23.00 and gave the stock a "buy" rating in a report on Monday, February 3rd. Citigroup lifted their price target on Similarweb from $14.00 to $22.00 and gave the company a "buy" rating in a report on Tuesday, February 11th. Needham & Company LLC restated a "buy" rating and set a $14.00 price objective on shares of Similarweb in a research note on Thursday, February 13th. Finally, Northland Securities lifted their target price on Similarweb from $17.00 to $20.00 and gave the company an "outperform" rating in a research note on Friday, January 24th. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Similarweb has an average rating of "Buy" and a consensus target price of $16.50.

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.