Verition Fund Management LLC Increases Position in Semrush Holdings, Inc. (NASDAQ:SEMR)

Verition Fund Management LLC boosted its holdings in Semrush Holdings, Inc. (NASDAQ:SEMR - Free Report) by 278.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 134,531 shares of the company's stock after purchasing an additional 99,021 shares during the quarter. Verition Fund Management LLC owned about 0.09% of Semrush worth $2,113,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. The Manufacturers Life Insurance Company raised its holdings in shares of Semrush by 28.4% in the second quarter. The Manufacturers Life Insurance Company now owns 16,777 shares of the company's stock valued at $225,000 after buying an additional 3,706 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Semrush by 30.2% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 21,845 shares of the company's stock valued at $343,000 after acquiring an additional 5,068 shares during the period. Point72 Asset Management L.P. purchased a new stake in Semrush during the 2nd quarter valued at approximately $123,000. DRW Securities LLC acquired a new stake in Semrush during the 3rd quarter worth approximately $157,000. Finally, Olympiad Research LP purchased a new position in shares of Semrush in the 3rd quarter valued at approximately $159,000. Institutional investors and hedge funds own 32.86% of the company's stock.

Analysts Set New Price Targets

SEMR has been the subject of several analyst reports. JPMorgan Chase & Co. upped their price target on Semrush from $16.00 to $17.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 2nd. The Goldman Sachs Group upped their price objective 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. KeyCorp lifted their target price on shares of Semrush from $19.00 to $21.00 and gave the company an "overweight" rating in a report on Wednesday, October 2nd. Finally, Needham & Company LLC reissued a "buy" rating and set a $18.00 price target on shares of Semrush in a report on Monday, November 11th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $16.50.

Insider Activity

In related news, CEO Oleg Shchegolev sold 8,964 shares of Semrush stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $14.14, for a total transaction of $126,750.96. Following the completion of the transaction, the chief executive officer now directly owns 4,378,823 shares in the company, valued at $61,916,557.22. The trade was a 0.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Vitalii Obishchenko sold 55,000 shares of the company's stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $13.43, for a total value of $738,650.00. Following the completion of the sale, the chief operating officer now directly owns 848,923 shares in the company, valued at approximately $11,401,035.89. The trade was a 6.08 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 154,112 shares of company stock worth $2,179,734. Company insiders own 57.83% of the company's stock.

Semrush Stock Performance

SEMR stock traded up $0.05 during trading on Friday, reaching $14.13. 323,215 shares of the company were exchanged, compared to its average volume of 502,198. Semrush Holdings, Inc. has a 52-week low of $9.64 and a 52-week high of $16.42. The company has a market cap of $2.07 billion, a P/E ratio of 176.00 and a beta of 1.59. The stock's 50 day moving average price is $13.70 and its 200 day moving average price is $13.98.

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.