Renaissance Technologies LLC Acquires 169,142 Shares of Semrush Holdings, Inc. (NASDAQ:SEMR)

Renaissance Technologies LLC increased its holdings in Semrush Holdings, Inc. (NASDAQ:SEMR - Free Report) by 56.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 467,542 shares of the company's stock after purchasing an additional 169,142 shares during the quarter. Renaissance Technologies LLC owned 0.32% of Semrush worth $5,554,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Barclays PLC increased its position in shares of Semrush by 115.2% in the third quarter. Barclays PLC now owns 102,407 shares of the company's stock valued at $1,609,000 after acquiring an additional 54,830 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in shares of Semrush in the fourth quarter worth about $6,869,000. Y Intercept Hong Kong Ltd increased its holdings in Semrush by 166.7% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 103,221 shares of the company's stock valued at $1,226,000 after purchasing an additional 64,514 shares during the period. SG Americas Securities LLC lifted its holdings in Semrush by 329.4% in the 4th quarter. SG Americas Securities LLC now owns 56,089 shares of the company's stock worth $666,000 after buying an additional 43,027 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in shares of Semrush by 10.6% during the fourth quarter. Principal Financial Group Inc. now owns 31,959 shares of the company's stock valued at $380,000 after acquiring an additional 3,059 shares in the last quarter. 32.86% of the stock is owned by institutional investors.

Semrush Price Performance

Semrush stock traded up $0.41 during midday trading on Wednesday, reaching $9.66. 494,335 shares of the company traded hands, compared to its average volume of 545,278. Semrush Holdings, Inc. has a 12 month low of $7.90 and a 12 month high of $18.74. The business has a 50 day moving average of $10.87 and a two-hundred day moving average of $12.94. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of 120.72 and a beta of 1.80.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Jefferies Financial Group boosted their price target on shares of Semrush from $17.00 to $21.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. Northland Securities initiated coverage on Semrush in a research report on Tuesday, January 14th. They set an "outperform" rating and a $18.00 price objective for the company. Needham & Company LLC reiterated a "buy" rating and issued a $18.00 price target on shares of Semrush in a research note on Wednesday, January 15th. Morgan Stanley cut their price objective on shares of Semrush from $19.00 to $13.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Finally, The Goldman Sachs Group lowered their price objective on Semrush from $14.00 to $12.00 and set a "neutral" rating for the company in a research note on Friday, March 28th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $17.14.

Insider Buying and Selling at Semrush

In related news, insider David W. Mason sold 9,127 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $11.14, for a total transaction of $101,674.78. Following the completion of the sale, the insider now directly owns 272,924 shares in the company, valued at approximately $3,040,373.36. The trade was a 3.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Eugenie Levin sold 15,093 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $17.11, for a total transaction of $258,241.23. Following the completion of the transaction, the president now owns 493,456 shares in the company, valued at $8,443,032.16. The trade was a 2.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 170,374 shares of company stock worth $1,962,411. Insiders own 57.83% of the company's stock.

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.