Insider Selling: Semrush Holdings, Inc. (NASDAQ:SEMR) COO Sells $62,086.89 in Stock

Semrush Holdings, Inc. (NASDAQ:SEMR) COO Vitalii Obishchenko sold 5,293 shares of Semrush stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $11.73, for a total transaction of $62,086.89. Following the completion of the sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Semrush Stock Down 2.0 %

Semrush stock opened at $11.54 on Monday. Semrush Holdings, Inc. has a twelve month low of $9.64 and a twelve month high of $16.42. The company has a market capitalization of $1.69 billion, a P/E ratio of 144.27 and a beta of 1.62. The stock’s 50 day moving average is $13.14 and its 200 day moving average is $13.57.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Semrush

Institutional investors have recently modified their holdings of the stock. Point72 Asset Management L.P. bought a new position in Semrush in the 2nd quarter worth about $123,000. DRW Securities LLC purchased a new position in Semrush in the third quarter worth about $157,000. Virtu Financial LLC bought a new position in shares of Semrush in the third quarter worth approximately $158,000. Olympiad Research LP purchased a new stake in shares of Semrush during the third quarter valued at approximately $159,000. Finally, The Manufacturers Life Insurance Company increased its position in shares of Semrush by 28.4% during the second quarter. The Manufacturers Life Insurance Company now owns 16,777 shares of the company’s stock valued at $225,000 after acquiring an additional 3,706 shares in the last quarter. 32.86% of the stock is owned by hedge funds and other institutional investors.

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.