Semrush (NASDAQ:SEMR) Shares Gap Down – Here’s What Happened

Semrush Holdings, Inc. (NASDAQ:SEMR) gapped down before the market opened on Friday . The stock had previously closed at $14.28, but opened at $13.00. Semrush shares last traded at $12.17, with a volume of 83,059 shares changing hands.

Wall Street Analysts Forecast Growth

SEMR has been the topic of a number of research analyst reports. Needham & Company LLC reissued a “buy” rating and set a $18.00 price objective on shares of Semrush in a research report on Tuesday, October 29th. KeyCorp increased their price target on Semrush from $19.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. The Goldman Sachs Group boosted their price objective on Semrush from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Monday, October 7th. Finally, JPMorgan Chase & Co. increased their target price on Semrush from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Semrush currently has a consensus rating of “Moderate Buy” and an average target price of $16.50.

Semrush Price Performance

The company’s fifty day moving average price is $13.78 and its 200 day moving average price is $13.98. The company has a market cap of $1.94 billion, a PE ratio of 132.60 and a beta of 1.62.

Insider Buying and Selling at Semrush

In other news, 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 value of $935,802.60. Following the transaction, the director now owns 9,227,898 shares in the company, valued at $134,635,031.82. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Dmitry Melnikov sold 64,140 shares of the firm’s stock in a transaction 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 directly owns 9,227,898 shares of the company’s stock, valued at $134,635,031.82. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Brian Mulroy sold 4,207 shares of Semrush stock in a transaction on Friday, October 11th. The stock was sold at an average price of $13.12, for a total value of $55,195.84. Following the sale, the chief financial officer now owns 433,211 shares in the company, valued at $5,683,728.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 172,789 shares of company stock worth $2,441,412. Insiders own 57.83% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Point72 Asset Management L.P. bought a new stake in shares of Semrush in the 2nd quarter worth approximately $123,000. Summit Global Investments bought a new stake in shares of Semrush in the second quarter valued at $156,000. Olympiad Research LP bought a new stake in shares of Semrush in the third quarter valued at $159,000. Versor Investments LP purchased a new position in shares of Semrush during the 2nd quarter valued at $174,000. Finally, The Manufacturers Life Insurance Company grew its stake in shares of 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 acquiring an additional 3,706 shares during the period. 32.86% of the stock is owned by institutional investors.

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.