Semrush (NASDAQ:SEMR) Upgraded by Morgan Stanley to Overweight Rating

Morgan Stanley upgraded shares of Semrush (NASDAQ:SEMR) from an equal weight rating to an overweight rating in a research report report published on Monday, Marketbeat reports. Morgan Stanley currently has $20.00 price target on the stock, up from their prior price target of $17.00.

SEMR has been the topic of a number of other reports. 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. KeyCorp raised their target price on Semrush from $19.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. The Goldman Sachs Group raised their target price on Semrush from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Monday, October 7th. 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 equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Semrush presently has an average rating of “Moderate Buy” and an average price target of $17.00.

Semrush Stock Performance

Shares of Semrush stock opened at $12.58 on Monday. Semrush has a one year low of $9.64 and a one year high of $16.42. The stock’s fifty day moving average is $13.13 and its 200 day moving average is $13.57. The stock has a market cap of $1.85 billion, a P/E ratio of 157.27 and a beta of 1.62.

Insider Buying and Selling at Semrush

In related news, COO Vitalii Obishchenko sold 5,293 shares of Semrush stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $11.73, for a total value of $62,086.89. Following the completion of the transaction, the chief operating officer now owns 838,659 shares in the company, valued at approximately $9,837,470.07. This trade represents a 0.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Dmitry Melnikov sold 42,226 shares of Semrush stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $13.50, for a total value of $570,051.00. Following the completion of the transaction, the director now owns 9,099,091 shares of the company’s stock, valued at approximately $122,837,728.50. This represents a 0.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 263,711 shares of company stock valued at $3,332,605 over the last ninety days. 57.83% of the stock is currently owned by company insiders.

Institutional Trading of Semrush

Institutional investors have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. bought a new stake in Semrush in the second quarter worth about $123,000. DRW Securities LLC bought a new stake in shares of Semrush during the third quarter valued at approximately $157,000. Virtu Financial LLC bought a new stake in shares of Semrush during the third quarter valued at approximately $158,000. Olympiad Research LP bought a new stake in shares of Semrush during the third quarter valued at approximately $159,000. Finally, Quest Partners LLC raised its stake in shares of Semrush by 398.0% during the third quarter. Quest Partners LLC now owns 14,829 shares of the company’s stock valued at $233,000 after acquiring an additional 11,851 shares in the last quarter. Institutional investors own 32.86% of the company’s stock.

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.