Principal Financial Group Inc. Acquires Shares of 28,900 Semrush Holdings, Inc. (NASDAQ:SEMR)

Principal Financial Group Inc. bought a new position in Semrush Holdings, Inc. (NASDAQ:SEMR) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 28,900 shares of the company’s stock, valued at approximately $454,000.

Other large investors have also modified their holdings of the company. FMR LLC increased its stake in Semrush by 19.4% during the 3rd quarter. FMR LLC now owns 2,876,365 shares of the company’s stock worth $45,188,000 after buying an additional 467,517 shares during the period. Wellington Management Group LLP grew its stake in shares of Semrush by 12.4% during the third quarter. Wellington Management Group LLP now owns 1,529,624 shares of the company’s stock valued at $24,030,000 after acquiring an additional 168,400 shares in the last quarter. State Street Corp increased its position in shares of Semrush by 1.4% during the third quarter. State Street Corp now owns 954,409 shares of the company’s stock worth $14,994,000 after acquiring an additional 13,374 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Semrush by 4.8% in the third quarter. Geode Capital Management LLC now owns 788,290 shares of the company’s stock worth $12,387,000 after acquiring an additional 36,173 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Semrush by 69.5% in the second quarter. Dimensional Fund Advisors LP now owns 532,702 shares of the company’s stock valued at $7,132,000 after purchasing an additional 218,488 shares during the last quarter. Institutional investors and hedge funds own 32.86% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other Semrush news, Director Dmitry Melnikov sold 15,564 shares of the company’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $11.82, for a total value of $183,966.48. Following the transaction, the director now owns 8,807,374 shares of the company’s stock, valued at approximately $104,103,160.68. This represents a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brian Mulroy sold 4,207 shares of the firm’s 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 directly 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 disclosure for this sale can be found here. Insiders have sold 235,911 shares of company stock worth $3,010,647 in the last ninety days. 57.83% of the stock is currently owned by corporate insiders.

Semrush Stock Performance

SEMR opened at $11.81 on Monday. The stock’s fifty day moving average is $13.28 and its 200-day moving average is $13.62. Semrush Holdings, Inc. has a one year low of $9.64 and a one year high of $16.42. The company has a market capitalization of $1.73 billion, a PE ratio of 147.64 and a beta of 1.59.

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.