Jacobs Levy Equity Management Inc. trimmed its position in Semrush Holdings, Inc. (NASDAQ:SEMR - Free Report) by 16.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 277,519 shares of the company's stock after selling 55,409 shares during the period. Jacobs Levy Equity Management Inc. owned 0.19% of Semrush worth $4,360,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the company. Point72 Asset Management L.P. bought a new position in shares of Semrush in the second quarter worth approximately $123,000. Summit Global Investments purchased a new stake in shares of Semrush during the 2nd quarter valued at $156,000. DRW Securities LLC bought a new stake in shares of Semrush during the 3rd quarter worth $157,000. Olympiad Research LP purchased a new position in Semrush in the third quarter worth $159,000. Finally, Versor Investments LP purchased a new position in Semrush in the second quarter worth $174,000. 32.86% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities research analysts have issued reports on SEMR shares. KeyCorp lifted their price target on Semrush from $19.00 to $21.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 2nd. The Goldman Sachs Group boosted their target price on Semrush from $14.00 to $16.00 and gave the stock a "neutral" rating in a research report on Monday, October 7th. Needham & Company LLC reiterated a "buy" rating and set a $18.00 price target on shares of Semrush in a research report on Monday, November 11th. Finally, JPMorgan Chase & Co. boosted 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 equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $16.50.
Check Out Our Latest Analysis on Semrush
Insider Buying and Selling
In other news, COO Vitalii Obishchenko sold 55,000 shares of Semrush stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $13.43, for a total value of $738,650.00. Following the sale, the chief operating officer now directly owns 848,923 shares in the company, valued at approximately $11,401,035.89. This trade represents a 6.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brian Mulroy sold 4,207 shares of the business's stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $13.12, for a total value of $55,195.84. Following the transaction, the chief financial officer now directly owns 433,211 shares in the company, valued at $5,683,728.32. This trade represents a 0.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 154,112 shares of company stock valued at $2,179,734 over the last three months. 57.83% of the stock is owned by company insiders.
Semrush Price Performance
Semrush stock traded up $0.05 during trading hours on Friday, reaching $14.13. The company had a trading volume of 323,215 shares, compared to its average volume of 518,662. Semrush Holdings, Inc. has a 12-month low of $9.64 and a 12-month high of $16.42. The company has a 50-day moving average price of $13.67 and a 200 day moving average price of $13.97. The firm has a market cap of $2.07 billion, a price-to-earnings ratio of 177.25 and a beta of 1.59.
About Semrush
(
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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