VELA Investment Management LLC Invests $701,000 in Semrush Holdings, Inc. (NASDAQ:SEMR)

VELA Investment Management LLC purchased a new position in shares of Semrush Holdings, Inc. (NASDAQ:SEMR - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 44,651 shares of the company's stock, valued at approximately $701,000.

A number of other institutional investors and hedge funds have also made changes to their positions in SEMR. Renaissance Technologies LLC acquired a new position in Semrush during the 2nd quarter valued at about $3,732,000. Federated Hermes Inc. boosted its position in shares of Semrush by 385.0% during the second quarter. Federated Hermes Inc. now owns 297,311 shares of the company's stock worth $3,981,000 after buying an additional 236,010 shares during the period. Cubist Systematic Strategies LLC bought a new position in Semrush in the 2nd quarter worth approximately $3,006,000. Dimensional Fund Advisors LP increased its position in Semrush by 69.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 532,702 shares of the company's stock valued at $7,132,000 after acquiring an additional 218,488 shares during the period. Finally, Silvercrest Asset Management Group LLC bought a new stake in Semrush during the 1st quarter valued at $2,705,000. 32.86% of the stock is currently owned by institutional investors and hedge funds.

Semrush Stock Up 0.3 %

Semrush stock traded up $0.04 during mid-day trading on Friday, hitting $13.15. The company's stock had a trading volume of 287,086 shares, compared to its average volume of 291,794. Semrush Holdings, Inc. has a twelve month low of $7.38 and a twelve month high of $16.42. The stock's fifty day moving average price is $13.81 and its two-hundred day moving average price is $13.92. The stock has a market capitalization of $1.93 billion, a P/E ratio of 131.50 and a beta of 1.62.

Semrush (NASDAQ:SEMR - Get Free Report) last announced its earnings results on Monday, August 5th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.03 by ($0.02). The company had revenue of $90.95 million for the quarter, compared to analyst estimates of $89.70 million. Semrush had a return on equity of 6.61% and a net margin of 4.39%. Equities analysts expect that Semrush Holdings, Inc. will post 0.08 earnings per share for the current year.

Insiders Place Their Bets

In other Semrush news, CFO Brian Mulroy sold 4,207 shares of Semrush stock in a transaction that occurred on Friday, October 11th. The shares were 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Dmitry Melnikov sold 8,666 shares of the firm's stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $14.00, for a total transaction of $121,324.00. Following the completion of the sale, the director now directly owns 9,372,430 shares in the company, valued at approximately $131,214,020. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Brian Mulroy sold 4,207 shares of the company'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 transaction of $55,195.84. Following the completion of the transaction, the chief financial officer now owns 433,211 shares in the company, valued at approximately $5,683,728.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 171,200 shares of company stock worth $2,420,533 over the last ninety days. 57.83% of the stock is currently owned by company insiders.

Analyst Ratings Changes

SEMR has been the topic of a number of recent analyst reports. The Goldman Sachs Group lifted their price objective on shares of Semrush from $14.00 to $16.00 and gave the company a "neutral" rating in a research note on Monday, October 7th. JPMorgan Chase & Co. upped their price target on shares of Semrush from $16.00 to $17.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 2nd. Needham & Company LLC reiterated a "buy" rating and issued a $18.00 price objective on shares of Semrush in a report on Tuesday. Finally, KeyCorp upped their target price on Semrush from $19.00 to $21.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 2nd. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $15.57.

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.