Semrush (NASDAQ:SEMR) Reaches New 52-Week Low After Insider Selling

Semrush Holdings, Inc. (NASDAQ:SEMR - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Thursday following insider selling activity. The company traded as low as $10.30 and last traded at $10.57, with a volume of 45755 shares changing hands. The stock had previously closed at $10.74.

Specifically, CMO Andrew Warden sold 17,118 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $11.20, for a total value of $191,721.60. Following the completion of the transaction, the chief marketing officer now owns 404,992 shares in the company, valued at $4,535,910.40. This trade represents a 4.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider David W. Mason sold 9,127 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $11.14, for a total value 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 disclosure for this sale can be found here. In other news, CFO Brian Mulroy sold 22,547 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $11.20, for a total transaction of $252,526.40. Following the sale, the chief financial officer now owns 698,558 shares in the company, valued at approximately $7,823,849.60. The trade was a 3.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

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Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SEMR. Morgan Stanley upgraded shares of Semrush from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $17.00 to $20.00 in a report on Monday, January 13th. Jefferies Financial Group raised their price objective on Semrush from $17.00 to $21.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. Northland Capmk upgraded Semrush to a "strong-buy" rating in a research note on Tuesday, January 14th. Northland Securities began 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, Needham & Company LLC reaffirmed a "buy" rating and issued a $18.00 price target on shares of Semrush in a research report on Wednesday, January 15th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Semrush has a consensus rating of "Buy" and a consensus target price of $18.71.

Semrush Price Performance

The firm has a 50-day moving average of $14.80 and a 200 day moving average of $14.05. The company has a market capitalization of $1.43 billion, a PE ratio of 121.58 and a beta of 1.77.

Institutional Trading of Semrush

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Semrush by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 5,177,228 shares of the company's stock valued at $61,505,000 after purchasing an additional 113,222 shares during the period. FMR LLC raised its stake in Semrush by 19.4% during the 3rd quarter. FMR LLC now owns 2,876,365 shares of the company's stock valued at $45,188,000 after buying an additional 467,517 shares during the last quarter. Dorsey Asset Management LLC lifted its holdings in shares of Semrush by 6.8% during the 4th quarter. Dorsey Asset Management LLC now owns 2,258,481 shares of the company's stock valued at $26,831,000 after buying an additional 144,534 shares during the period. Wellington Management Group LLP boosted its stake in shares of Semrush by 12.4% in the 3rd quarter. Wellington Management Group LLP now owns 1,529,624 shares of the company's stock worth $24,030,000 after buying an additional 168,400 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in shares of Semrush by 153.8% in the 4th quarter. Millennium Management LLC now owns 1,246,109 shares of the company's stock worth $14,804,000 after buying an additional 755,220 shares during the last quarter. Hedge funds and other institutional investors own 32.86% of the company's stock.

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.