Semrush Holdings, Inc. (NASDAQ:SEMR) Receives $16.50 Average PT from Brokerages

Semrush Holdings, Inc. (NASDAQ:SEMR) has been assigned an average recommendation of “Moderate Buy” from the six research firms that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $16.50.

Several research analysts have recently issued reports on the company. KeyCorp raised their price objective on Semrush from $19.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Needham & Company LLC restated a “buy” rating and set a $18.00 price objective on shares of Semrush in a research note on Monday, November 11th. The Goldman Sachs Group increased their price objective 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. Finally, JPMorgan Chase & Co. boosted their target price on shares of Semrush from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd.

Insider Activity at Semrush

In other news, CMO Andrew Warden sold 3,953 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $14.73, for a total value of $58,227.69. Following the completion of the sale, the chief marketing officer now directly owns 257,364 shares in the company, valued at $3,790,971.72. The trade was a 1.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mark Vranesh sold 7,500 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $15.51, for a total value of $116,325.00. Following the transaction, the director now owns 113,731 shares in the company, valued at $1,763,967.81. This trade represents a 6.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 154,112 shares of company stock worth $2,179,734 in the last three months. Company insiders own 57.83% of the company’s stock.

Hedge Funds Weigh In On Semrush

Large investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC purchased a new stake in shares of Semrush during the third quarter worth about $158,000. Barclays PLC increased its stake in Semrush by 115.2% during the 3rd quarter. Barclays PLC now owns 102,407 shares of the company’s stock worth $1,609,000 after buying an additional 54,830 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Semrush by 4.8% during the third quarter. Geode Capital Management LLC now owns 788,290 shares of the company’s stock valued at $12,387,000 after acquiring an additional 36,173 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of Semrush in the third quarter valued at approximately $608,000. Finally, Wellington Management Group LLP boosted its stake in shares of Semrush by 12.4% in the third quarter. Wellington Management Group LLP now owns 1,529,624 shares of the company’s stock worth $24,030,000 after acquiring an additional 168,400 shares during the last quarter. 32.86% of the stock is currently owned by institutional investors and hedge funds.

Semrush Price Performance

NASDAQ SEMR opened at $13.60 on Tuesday. The stock’s fifty day moving average price is $13.80 and its 200 day moving average price is $14.02. Semrush has a 1 year low of $9.64 and a 1 year high of $16.42. The company has a market cap of $2.00 billion, a price-to-earnings ratio of 170.02 and a beta of 1.62.

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.