Algert Global LLC Buys 80,621 Shares of Semrush Holdings, Inc. (NASDAQ:SEMR)

Algert Global LLC grew its stake in shares of Semrush Holdings, Inc. (NASDAQ:SEMR) by 94.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 165,552 shares of the company’s stock after acquiring an additional 80,621 shares during the quarter. Algert Global LLC’s holdings in Semrush were worth $2,601,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the stock. Jacobs Levy Equity Management Inc. bought a new stake in Semrush in the 1st quarter worth approximately $543,000. VELA Investment Management LLC purchased a new stake in Semrush during the third quarter valued at $701,000. Cubist Systematic Strategies LLC bought a new position in Semrush in the second quarter valued at about $3,006,000. Renaissance Technologies LLC purchased a new position in Semrush in the second quarter worth about $3,732,000. Finally, SG Americas Securities LLC purchased a new position in Semrush in the second quarter worth about $654,000. 32.86% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Semrush news, CEO Oleg Shchegolev sold 8,964 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $14.14, for a total value 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. This represents a 0.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Dmitry Melnikov sold 10,011 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $14.02, for a total transaction of $140,354.22. Following the sale, the director now directly owns 9,362,419 shares of the company’s stock, valued at approximately $131,261,114.38. This trade represents a 0.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 164,123 shares of company stock worth $2,320,088 over the last ninety days. Corporate insiders own 57.83% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. KeyCorp increased their price objective on shares of Semrush from $19.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. The Goldman Sachs Group lifted their price target on shares of Semrush from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Monday, October 7th. Needham & Company LLC reissued a “buy” rating and set a $18.00 price objective on shares of Semrush in a research report on Monday, November 11th. Finally, JPMorgan Chase & Co. raised their target price on Semrush from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Semrush currently has a consensus rating of “Moderate Buy” and an average price target of $16.50.

Semrush Price Performance

Shares of NASDAQ SEMR opened at $13.84 on Wednesday. The stock has a market cap of $2.03 billion, a PE ratio of 173.02 and a beta of 1.62. The firm has a fifty day moving average price of $13.90 and a 200-day moving average price of $14.06. Semrush Holdings, Inc. has a 1 year low of $9.64 and a 1 year high of $16.42.

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.