Fmr LLC Buys 467,517 Shares of Semrush Holdings, Inc. (NASDAQ:SEMR)

FMR LLC boosted its position in shares of Semrush Holdings, Inc. (NASDAQ:SEMR - Free Report) by 19.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,876,365 shares of the company's stock after purchasing an additional 467,517 shares during the period. FMR LLC owned about 1.96% of Semrush worth $45,188,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in shares of Semrush in the second quarter valued at approximately $654,000. Summit Global Investments bought a new position in Semrush in the 2nd quarter valued at $156,000. Bank of New York Mellon Corp grew its holdings in shares of Semrush by 28.6% during the second quarter. Bank of New York Mellon Corp now owns 104,761 shares of the company's stock worth $1,403,000 after purchasing an additional 23,313 shares during the last quarter. Versor Investments LP bought a new stake in shares of Semrush during the second quarter worth $174,000. Finally, Rhumbline Advisers grew its holdings in shares of Semrush by 29.7% during the second quarter. Rhumbline Advisers now owns 48,912 shares of the company's stock worth $655,000 after purchasing an additional 11,202 shares during the last quarter. 32.86% of the stock is currently owned by institutional investors and hedge funds.

Semrush Price Performance

Shares of NASDAQ SEMR traded up $0.05 during mid-day trading on Friday, hitting $14.13. The company's stock had a trading volume of 323,215 shares, compared to its average volume of 518,662. The company's fifty day simple moving average is $13.67 and its 200-day simple moving average is $13.95. Semrush Holdings, Inc. has a one year low of $9.64 and a one year high of $16.42. The stock has a market cap of $2.07 billion, a price-to-earnings ratio of 176.65 and a beta of 1.59.

Wall Street Analyst Weigh In

A number of brokerages have commented on SEMR. Needham & Company LLC reissued a "buy" rating and set a $18.00 price objective on shares of Semrush in a report on Monday, November 11th. KeyCorp increased their price objective on shares of Semrush from $19.00 to $21.00 and gave the stock an "overweight" rating in a report on Wednesday, October 2nd. The Goldman Sachs Group increased their price objective on shares of Semrush from $14.00 to $16.00 and gave the stock a "neutral" rating in a report on Monday, October 7th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Semrush from $16.00 to $17.00 and gave the stock an "overweight" rating in a report on Wednesday, October 2nd. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $16.50.

Insider Activity at Semrush

In other Semrush news, CFO Brian Mulroy sold 4,207 shares of the stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $13.12, for a total transaction of $55,195.84. Following the transaction, the chief financial officer now directly owns 433,211 shares in the company, valued at approximately $5,683,728.32. This represents a 0.96 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark Vranesh sold 7,500 shares of the company's stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $15.51, for a total value of $116,325.00. Following the transaction, the director now directly owns 113,731 shares in the company, valued at $1,763,967.81. The trade was a 6.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 154,112 shares of company stock valued at $2,179,734 over the last quarter. 57.83% of the stock is owned by corporate insiders.

Semrush Company Profile

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.