Oleg Shchegolev Sells 6,859 Shares of Semrush Holdings, Inc. (NASDAQ:SEMR) Stock

Semrush Holdings, Inc. (NASDAQ:SEMR) CEO Oleg Shchegolev sold 6,859 shares of the company’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $11.71, for a total value of $80,318.89. Following the transaction, the chief executive officer now directly owns 7,301,214 shares in the company, valued at approximately $85,497,215.94. This represents a 0.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Semrush Price Performance

Shares of NASDAQ:SEMR opened at $11.54 on Monday. The firm’s 50 day simple moving average is $13.14 and its 200 day simple moving average is $13.57. Semrush Holdings, Inc. has a fifty-two week low of $9.64 and a fifty-two week high of $16.42. The company has a market capitalization of $1.69 billion, a price-to-earnings ratio of 144.27 and a beta of 1.62.

Institutional Investors Weigh In On Semrush

Several hedge funds have recently bought and sold shares of SEMR. Verition Fund Management LLC increased its position in shares of Semrush by 278.9% in the 3rd quarter. Verition Fund Management LLC now owns 134,531 shares of the company’s stock valued at $2,113,000 after buying an additional 99,021 shares in the last quarter. Barclays PLC increased its holdings in shares of Semrush by 115.2% in the third quarter. Barclays PLC now owns 102,407 shares of the company’s stock worth $1,609,000 after acquiring an additional 54,830 shares in the last quarter. VELA Investment Management LLC bought a new stake in shares of Semrush in the third quarter worth about $701,000. Renaissance Technologies LLC acquired a new stake in shares of Semrush during the second quarter worth about $3,732,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Semrush during the 2nd quarter valued at about $3,006,000. 32.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SEMR. The Goldman Sachs Group upped their price target on Semrush from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday, October 7th. Needham & Company LLC restated a “buy” rating and set a $18.00 target price on shares of Semrush in a research report on Monday, November 11th. KeyCorp lifted their price target on shares of Semrush from $19.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Semrush from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.50.

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.