Semrush (NASDAQ:SEMR) Trading Down 4.6%

Shares of Semrush Holdings, Inc. (NASDAQ:SEMR) dropped 4.6% during trading on Wednesday . The stock traded as low as $14.41 and last traded at $14.54. Approximately 143,878 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 522,729 shares. The stock had previously closed at $15.24.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Needham & Company LLC restated a “buy” rating and set a $18.00 price objective on shares of Semrush in a research report on Wednesday. JPMorgan Chase & Co. raised their price target on Semrush from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, KeyCorp upped their price objective on Semrush from $19.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.00.

Semrush Trading Down 5.4 %

The business has a 50 day simple moving average of $14.04 and a two-hundred day simple moving average of $13.82. The company has a market cap of $2.09 billion, a PE ratio of 156.33 and a beta of 1.58.

Semrush (NASDAQ:SEMR) last released its earnings results on Monday, August 5th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.02). The business had revenue of $90.95 million for 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%. On average, equities research analysts expect that Semrush Holdings, Inc. will post 0.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Dmitry Melnikov sold 64,140 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $14.59, for a total transaction of $935,802.60. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CMO Andrew Warden sold 4,154 shares of the firm’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $13.69, for a total value of $56,868.26. Following the transaction, the chief marketing officer now directly owns 261,317 shares in the company, valued at approximately $3,577,429.73. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Dmitry Melnikov sold 64,140 shares of Semrush stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $14.59, for a total value of $935,802.60. Following the completion of the transaction, the director now directly owns 9,227,898 shares in the company, valued at $134,635,031.82. The disclosure for this sale can be found here. Over the last three months, insiders have sold 167,689 shares of company stock valued at $2,343,097. Insiders own 57.83% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Point72 Asset Management L.P. purchased a new stake in Semrush during the second quarter worth approximately $123,000. Summit Global Investments purchased a new position in Semrush in the second quarter valued at about $156,000. Versor Investments LP acquired a new position in shares of Semrush during the second quarter worth about $174,000. The Manufacturers Life Insurance Company boosted its position in shares of Semrush by 28.4% in the second quarter. The Manufacturers Life Insurance Company now owns 16,777 shares of the company’s stock worth $225,000 after buying an additional 3,706 shares during the period. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Semrush in the second quarter valued at about $258,000. Hedge funds and other institutional investors own 32.86% of the company’s stock.

Semrush Company Profile

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.