Semrush (NASDAQ:SEMR) Hits New 52-Week High - Here's What Happened

Shares of Semrush Holdings, Inc. (NASDAQ:SEMR - Get Free Report) reached a new 52-week high during trading on Tuesday . The stock traded as high as $17.40 and last traded at $17.36, with a volume of 135028 shares traded. The stock had previously closed at $16.37.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $18.00 price objective on shares of Semrush in a research note on Wednesday, January 15th. Morgan Stanley raised shares of Semrush from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $17.00 to $20.00 in a research note on Monday, January 13th. Northland Capmk raised Semrush to a "strong-buy" rating in a research report on Tuesday, January 14th. Northland Securities assumed coverage on Semrush in a research note on Tuesday, January 14th. They issued an "outperform" rating and a $18.00 target price on the stock. Finally, The Goldman Sachs Group raised their price target on Semrush from $14.00 to $16.00 and gave the stock a "neutral" rating in a research note on Monday, October 7th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Semrush has an average rating of "Moderate Buy" and an average target price of $17.13.

Semrush Trading Down 0.1 %

The stock has a fifty day moving average price of $13.70 and a 200 day moving average price of $13.79. The firm has a market cap of $2.55 billion, a price-to-earnings ratio of 217.04 and a beta of 1.62.

Semrush (NASDAQ:SEMR - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.06). Semrush had a net margin of 3.29% and a return on equity of 4.93%. The company had revenue of $97.41 million for the quarter, compared to analyst estimates of $96.49 million. During the same quarter last year, the business earned $0.03 EPS. On average, sell-side analysts forecast that Semrush Holdings, Inc. will post 0.08 EPS for the current year.

Insiders Place Their Bets

In other news, President Eugenie Levin sold 28,800 shares of the business's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $16.29, for a total transaction of $469,152.00. Following the transaction, the president now owns 508,549 shares in the company, valued at approximately $8,284,263.21. The trade was a 5.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Dmitry Melnikov sold 38,790 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $13.42, for a total transaction of $520,561.80. Following the completion of the sale, the director now owns 9,060,301 shares of the company's stock, valued at approximately $121,589,239.42. The trade was a 0.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 335,711 shares of company stock valued at $4,466,605 in the last quarter. Insiders own 57.83% of the company's stock.

Institutional Investors Weigh In On Semrush

Several institutional investors and hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its position in shares of Semrush by 69.5% during 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 in the last quarter. Sei Investments Co. acquired a new stake in Semrush during the second quarter valued at approximately $730,000. Millennium Management LLC grew its stake in shares of Semrush by 126.5% in the 2nd quarter. Millennium Management LLC now owns 294,374 shares of the company's stock valued at $3,942,000 after purchasing an additional 164,395 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of Semrush by 28.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,777 shares of the company's stock worth $225,000 after buying an additional 3,706 shares in the last quarter. Finally, Algert Global LLC raised its holdings in shares of Semrush by 13.8% in the 2nd quarter. Algert Global LLC now owns 84,931 shares of the company's stock worth $1,137,000 after buying an additional 10,282 shares in the last quarter. Institutional investors own 32.86% 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.