The Manufacturers Life Insurance Company Grows Position in Semrush Holdings, Inc. (NASDAQ:SEMR)

The Manufacturers Life Insurance Company boosted its stake in shares of Semrush Holdings, Inc. (NASDAQ:SEMR) by 30.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,845 shares of the company’s stock after acquiring an additional 5,068 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Semrush were worth $343,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. acquired a new stake in Semrush during the 2nd quarter worth approximately $123,000. DRW Securities LLC acquired a new stake in Semrush during the 3rd quarter worth approximately $157,000. Olympiad Research LP acquired a new stake in Semrush during the 3rd quarter worth approximately $159,000. Summit Global Investments acquired a new stake in Semrush during the 2nd quarter worth approximately $156,000. Finally, Versor Investments LP acquired a new stake in Semrush during the 2nd quarter worth approximately $174,000. 32.86% of the stock is owned by institutional investors and hedge funds.

Semrush Stock Down 3.8 %

Shares of NASDAQ:SEMR opened at $13.30 on Monday. The company has a market cap of $1.95 billion, a P/E ratio of 166.27 and a beta of 1.59. Semrush Holdings, Inc. has a 52 week low of $9.64 and a 52 week high of $16.42. The business has a fifty day simple moving average of $13.58 and a 200-day simple moving average of $13.87.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. KeyCorp raised their price target on Semrush from $19.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. The Goldman Sachs Group raised their price target on Semrush from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Monday, October 7th. JPMorgan Chase & Co. raised their price target on Semrush from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $18.00 price target on shares of Semrush in a report on Monday, November 11th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Semrush currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.50.

Insider Activity at Semrush

In related news, CFO Brian Mulroy sold 4,207 shares of the stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $13.12, for a total value of $55,195.84. Following the completion of the transaction, the chief financial officer now owns 433,211 shares of the company’s stock, valued at approximately $5,683,728.32. This represents a 0.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, President Eugenie Levin sold 3,788 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $14.12, for a total value of $53,486.56. Following the sale, the president now owns 601,892 shares in the company, valued at $8,498,715.04. The trade was a 0.63 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 99,112 shares of company stock worth $1,441,084. 57.83% of the stock is owned by insiders.

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.