Northland Securities Initiates Coverage on Semrush (NASDAQ:SEMR)

Northland Securities initiated coverage on shares of Semrush (NASDAQ:SEMR - Free Report) in a research report released on Tuesday morning, Marketbeat reports. The firm issued an outperform rating and a $18.00 price objective on the stock.

Several other research firms also recently commented on SEMR. 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 report on Monday, October 7th. Morgan Stanley upgraded 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. KeyCorp raised their price objective on shares of Semrush from $19.00 to $21.00 and gave the company an "overweight" rating in a research note on Wednesday, October 2nd. Needham & Company LLC reiterated a "buy" rating and issued a $18.00 target price on shares of Semrush in a research note on Monday, November 11th. Finally, JPMorgan Chase & Co. increased their price target on shares of Semrush from $16.00 to $17.00 and gave the company an "overweight" rating in a report on Wednesday, October 2nd. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $17.13.

Semrush Stock Up 5.2 %

Shares of SEMR stock traded up $0.66 during trading hours on Tuesday, hitting $13.32. 747,226 shares of the company's stock traded hands, compared to its average volume of 586,738. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of 166.52 and a beta of 1.62. The stock's fifty day simple moving average is $13.13 and its two-hundred day simple moving average is $13.57. Semrush has a 12-month low of $9.64 and a 12-month high of $16.42.

Insider Activity

In other Semrush news, President Eugenie Levin sold 6,943 shares of the stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $11.74, for a total value of $81,510.82. Following the transaction, the president now owns 580,549 shares of the company's stock, valued at approximately $6,815,645.26. This represents a 1.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brian Mulroy sold 3,015 shares of the firm's stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $12.40, for a total value of $37,386.00. Following the completion of the transaction, the chief financial officer now directly owns 430,196 shares in the company, valued at $5,334,430.40. The trade was a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 263,711 shares of company stock valued at $3,332,605 over the last three months. Insiders own 57.83% of the company's stock.

Institutional Trading of Semrush

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SEMR. Verition Fund Management LLC increased its stake in shares of Semrush by 278.9% in the 3rd quarter. Verition Fund Management LLC now owns 134,531 shares of the company's stock worth $2,113,000 after purchasing an additional 99,021 shares in the last quarter. Barclays PLC increased its position in Semrush by 115.2% in the third quarter. Barclays PLC now owns 102,407 shares of the company's stock worth $1,609,000 after buying an additional 54,830 shares in the last quarter. VELA Investment Management LLC bought a new position in shares of Semrush in the third quarter worth about $701,000. Renaissance Technologies LLC bought a new position in shares of Semrush in the second quarter worth about $3,732,000. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Semrush during the 2nd quarter valued at about $3,006,000. 32.86% of the stock is owned by hedge funds and other institutional investors.

About Semrush

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.