Cubist Systematic Strategies LLC Takes $3.01 Million Position in Semrush Holdings, Inc. (NASDAQ:SEMR)

Cubist Systematic Strategies LLC purchased a new position in shares of Semrush Holdings, Inc. (NASDAQ:SEMR) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 224,530 shares of the company’s stock, valued at approximately $3,006,000.

Several other large investors also recently added to or reduced their stakes in SEMR. Point72 Asset Management L.P. bought a new stake in Semrush during the 2nd quarter valued at $123,000. Summit Global Investments bought a new stake in shares of Semrush during the 2nd quarter valued at $156,000. Versor Investments LP purchased a new stake in Semrush during the 2nd quarter worth about $174,000. The Manufacturers Life Insurance Company lifted its holdings in Semrush by 28.4% during the 2nd 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 purchased a new position in Semrush during the 2nd quarter valued at about $258,000. Hedge funds and other institutional investors own 32.86% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on SEMR shares. KeyCorp increased their price target on shares of Semrush from $17.00 to $19.00 and gave the stock an “overweight” rating in a report on Tuesday, August 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 target price on shares of Semrush in a report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Semrush has an average rating of “Moderate Buy” and a consensus price target of $14.33.

Insider Activity at Semrush

In other Semrush news, Director Dmitry Melnikov sold 64,140 shares of Semrush stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $14.59, for a total transaction of $935,802.60. Following the completion of the sale, the director now owns 9,227,898 shares of the company’s stock, valued at $134,635,031.82. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Semrush news, CMO Andrew Warden sold 4,154 shares of the stock in a transaction that occurred on Friday, July 5th. The shares were 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 can be accessed through this hyperlink. Also, Director Dmitry Melnikov sold 64,140 shares of the business’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 transaction of $935,802.60. Following the completion of the sale, the director now owns 9,227,898 shares of the company’s stock, valued at $134,635,031.82. The disclosure for this sale can be found here. Insiders have sold a total of 167,689 shares of company stock valued at $2,343,097 over the last 90 days. 57.83% of the stock is owned by insiders.

Semrush Trading Up 1.7 %

Shares of SEMR opened at $15.38 on Monday. The stock has a 50-day moving average price of $14.00 and a 200-day moving average price of $13.76. The company has a market cap of $2.23 billion, a PE ratio of 170.89 and a beta of 1.57. Semrush Holdings, Inc. has a 12-month low of $7.36 and a 12-month high of $16.42.

Semrush (NASDAQ:SEMR) last released 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). The company had revenue of $90.95 million during the quarter, compared to analysts’ expectations of $89.70 million. Semrush had a return on equity of 6.61% and a net margin of 4.39%. As a group, analysts predict that Semrush Holdings, Inc. will post 0.08 earnings per share for the current year.

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.