Semrush (NASDAQ:SEMR) Stock Price Up 9.2% - What's Next?

Shares of Semrush Holdings, Inc. (NASDAQ:SEMR - Get Free Report) rose 9.2% during trading on Wednesday . The company traded as high as $14.56 and last traded at $14.56. Approximately 253,473 shares changed hands during trading, a decline of 53% from the average daily volume of 542,492 shares. The stock had previously closed at $13.33.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Northland Capmk raised Semrush to a "strong-buy" rating in a report on Tuesday. KeyCorp increased their price objective on Semrush from $19.00 to $21.00 and gave the company an "overweight" rating in a report on Wednesday, October 2nd. Needham & Company LLC restated a "buy" rating and set a $18.00 target price on shares of Semrush in a research note on Wednesday. The Goldman Sachs Group increased their price target on shares of Semrush from $14.00 to $16.00 and gave the company a "neutral" rating in a research note on Monday, October 7th. Finally, Northland Securities began coverage on shares of Semrush in a research report on Tuesday. They set an "outperform" rating and a $18.00 price objective for the company. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $17.13.

Semrush Stock Up 10.7 %

The company has a fifty day moving average price of $13.13 and a two-hundred day moving average price of $13.57. The firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of 184.52 and a beta of 1.62.

Insider Buying and Selling

In other Semrush news, President Eugenie Levin sold 6,943 shares of the company's stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $11.74, for a total transaction of $81,510.82. Following the completion of the sale, the president now directly owns 580,549 shares of the company's stock, valued at $6,815,645.26. This represents a 1.18 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Andrew Warden sold 8,462 shares of Semrush stock in a transaction that occurred 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 transaction, the chief marketing officer now owns 276,656 shares in the company, valued at $3,239,641.76. This trade represents a 2.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 263,711 shares of company stock worth $3,332,605 in the last 90 days. Company insiders own 57.83% of the company's stock.

Institutional Investors Weigh In On Semrush

Several hedge funds have recently modified their holdings of the stock. Verition Fund Management LLC raised its position in Semrush by 278.9% during the 3rd 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 last quarter. Barclays PLC raised its holdings in Semrush by 115.2% during the third quarter. Barclays PLC now owns 102,407 shares of the company's stock worth $1,609,000 after purchasing an additional 54,830 shares in the last quarter. VELA Investment Management LLC purchased a new position in Semrush during the third quarter worth about $701,000. Renaissance Technologies LLC acquired a new stake in Semrush in the second quarter valued at about $3,732,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in Semrush in the 2nd quarter valued at approximately $3,006,000. 32.86% of the stock is 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.