International Assets Investment Management LLC Acquires New Stake in Similarweb Ltd. (NYSE:SMWB)

International Assets Investment Management LLC bought a new stake in Similarweb Ltd. (NYSE:SMWB) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 10,990 shares of the company’s stock, valued at approximately $154,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Scalar Gauge Management LLC lifted its stake in shares of Similarweb by 45.5% in the 3rd quarter. Scalar Gauge Management LLC now owns 863,923 shares of the company’s stock worth $7,637,000 after purchasing an additional 270,000 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in Similarweb by 112.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 449,896 shares of the company’s stock worth $3,977,000 after acquiring an additional 238,428 shares during the period. P.A.W. Capital Corp purchased a new position in shares of Similarweb during the 3rd quarter worth $3,536,000. Walleye Capital LLC grew its position in shares of Similarweb by 115.9% during the 3rd quarter. Walleye Capital LLC now owns 354,653 shares of the company’s stock valued at $3,135,000 after acquiring an additional 190,380 shares during the period. Finally, State Street Corp increased its stake in shares of Similarweb by 32.5% in the 3rd quarter. State Street Corp now owns 187,919 shares of the company’s stock worth $1,661,000 after purchasing an additional 46,102 shares in the last quarter. 57.59% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on SMWB. Needham & Company LLC reiterated a “buy” rating and set a $14.00 target price on shares of Similarweb in a research report on Wednesday, December 11th. William Blair reaffirmed an “outperform” rating on shares of Similarweb in a research report on Thursday, December 19th. Citigroup increased their target price on shares of Similarweb from $10.00 to $14.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. The Goldman Sachs Group assumed coverage on shares of Similarweb in a report on Wednesday, December 11th. They set a “buy” rating and a $16.00 price target on the stock. Finally, Northland Securities increased their price objective on shares of Similarweb from $15.00 to $17.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 26th. Nine investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Similarweb currently has an average rating of “Buy” and an average price target of $13.50.

Similarweb Price Performance

Shares of SMWB opened at $15.12 on Wednesday. The firm has a market cap of $1.22 billion, a P/E ratio of -137.45 and a beta of 0.97. Similarweb Ltd. has a 1 year low of $5.25 and a 1 year high of $15.29. The company has a 50 day simple moving average of $13.03 and a two-hundred day simple moving average of $9.88.

Similarweb Profile

Similarweb Ltd. provides cloud-based digital intelligence solutions in the United States, Europe, the Asia Pacific, the United Kingdom, Israel, and internationally. The company offers digital research intelligence solutions for its customers to benchmark performance against competitors and market leaders, analyze trends in the market, conduct deeper research into specific companies, and analyze audience behavior; and digital marketing intelligence solutions for its customers to understand their competitors' online acquisition strategies in each marketing channel, and optimize their own strategies.