Semrush (NASDAQ:SEMR) Shares Down 4.6%

Semrush Holdings, Inc. (NASDAQ:SEMR) shares traded down 4.6% during mid-day trading on Wednesday . The company traded as low as $14.41 and last traded at $14.54. 143,878 shares changed hands during trading, a decline of 72% from the average session volume of 522,729 shares. The stock had previously closed at $15.24.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Needham & Company LLC restated a “buy” rating and issued a $18.00 target price on shares of Semrush in a research note on Wednesday. KeyCorp upped their price objective on shares of Semrush from $19.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. lifted their target price on Semrush from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Semrush currently has an average rating of “Moderate Buy” and a consensus target price of $15.00.

Semrush Stock Performance

The company’s fifty day simple moving average is $14.04 and its two-hundred day simple moving average is $13.82. The company has a market capitalization of $2.09 billion, a price-to-earnings ratio of 156.33 and a beta of 1.58.

Semrush (NASDAQ:SEMR) last posted its quarterly earnings results on Monday, August 5th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). Semrush had a return on equity of 6.61% and a net margin of 4.39%. The firm had revenue of $90.95 million during the quarter, compared to analyst estimates of $89.70 million. Sell-side analysts anticipate that Semrush Holdings, Inc. will post 0.08 EPS for the current year.

Insider Activity

In related news, CMO Andrew Warden sold 4,154 shares of the firm’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $13.69, for a total transaction of $56,868.26. Following the transaction, the chief marketing officer now directly owns 261,317 shares in the company, valued at $3,577,429.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Semrush news, CMO Andrew Warden sold 4,154 shares of Semrush stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $13.69, for a total value of $56,868.26. Following the completion of the transaction, the chief marketing officer now directly owns 261,317 shares in the company, valued at $3,577,429.73. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Dmitry Melnikov sold 64,140 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $14.59, for a total value of $935,802.60. Following the completion of the sale, the director now directly owns 9,227,898 shares in the company, valued at approximately $134,635,031.82. The disclosure for this sale can be found here. In the last ninety days, insiders sold 167,689 shares of company stock worth $2,343,097. 57.83% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Semrush

Hedge funds and other institutional investors have recently modified their holdings of the company. Point72 Asset Management L.P. acquired a new position in shares of Semrush during the second quarter worth approximately $123,000. Summit Global Investments bought a new stake in Semrush during the 2nd quarter valued at $156,000. Versor Investments LP acquired a new position in Semrush during the 2nd quarter worth $174,000. The Manufacturers Life Insurance Company grew its stake 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 worth $225,000 after purchasing an additional 3,706 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in shares of Semrush during the second quarter valued at $258,000. Institutional investors and hedge funds own 32.86% of the company’s stock.

Semrush Company Profile

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.