Semrush (NASDAQ:SEMR) Upgraded at Northland Capmk

Semrush (NASDAQ:SEMR - Get Free Report) was upgraded by Northland Capmk to a "strong-buy" rating in a report issued on Tuesday,Zacks.com reports.

A number of other research firms have also recently weighed in on SEMR. Needham & Company LLC reissued a "buy" rating and issued a $18.00 price target on shares of Semrush in a report on Monday, November 11th. Morgan Stanley raised shares of Semrush from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $17.00 to $20.00 in a research note on Monday. Northland Securities initiated coverage on shares of Semrush in a research note on Tuesday. They set an "outperform" rating and a $18.00 price target on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Semrush from $16.00 to $17.00 and gave the company an "overweight" rating in a research report on Wednesday, October 2nd. Finally, The Goldman Sachs Group raised their target price on shares of Semrush from $14.00 to $16.00 and gave the stock a "neutral" rating in a research report on Monday, October 7th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $17.13.

Semrush Trading Up 10.2 %

Shares of SEMR stock traded up $1.36 during trading hours on Tuesday, hitting $14.69. The company's stock had a trading volume of 692,563 shares, compared to its average volume of 595,032. The business has a fifty day moving average of $13.13 and a 200-day moving average of $13.57. Semrush has a twelve month low of $9.64 and a twelve month high of $16.42. The stock has a market cap of $2.16 billion, a price-to-earnings ratio of 183.65 and a beta of 1.62.

Insider Activity

In other news, CMO Andrew Warden sold 8,462 shares of the stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $11.71, for a total value of $99,090.02. Following the completion of the sale, the chief marketing officer now owns 276,656 shares of the company's stock, valued at $3,239,641.76. This represents a 2.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Brian Mulroy sold 3,015 shares of Semrush stock in a transaction on Monday, January 13th. The shares were sold at an average price of $12.40, for a total transaction of $37,386.00. Following the transaction, the chief financial officer now owns 430,196 shares in the company, valued at $5,334,430.40. The trade was a 0.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 263,711 shares of company stock valued at $3,332,605 in the last ninety days. Company insiders own 57.83% of the company's stock.

Institutional Trading of Semrush

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

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.