Principal Financial Group Inc. Grows Position in Semrush Holdings, Inc. (NASDAQ:SEMR)

Principal Financial Group Inc. increased its position in shares of Semrush Holdings, Inc. (NASDAQ:SEMR) by 10.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 31,959 shares of the company’s stock after purchasing an additional 3,059 shares during the period. Principal Financial Group Inc.’s holdings in Semrush were worth $380,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Verition Fund Management LLC boosted its stake in shares of Semrush by 278.9% during the 3rd quarter. Verition Fund Management LLC now owns 134,531 shares of the company’s stock worth $2,113,000 after purchasing an additional 99,021 shares during the period. Barclays PLC boosted its stake in shares of Semrush by 115.2% during the 3rd quarter. Barclays PLC now owns 102,407 shares of the company’s stock worth $1,609,000 after purchasing an additional 54,830 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in shares of Semrush during the 4th quarter worth about $6,869,000. SG Americas Securities LLC boosted its stake in shares of Semrush by 329.4% during the 4th quarter. SG Americas Securities LLC now owns 56,089 shares of the company’s stock worth $666,000 after purchasing an additional 43,027 shares during the period. Finally, FMR LLC boosted its stake in shares of 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 purchasing an additional 467,517 shares during the period. 32.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SEMR has been the subject of a number of research analyst reports. Northland Securities initiated coverage on shares of Semrush in a report on Tuesday, January 14th. They set an “outperform” rating and a $18.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating and set a $18.00 price objective on shares of Semrush in a report on Wednesday, January 15th. Northland Capmk upgraded shares of Semrush to a “strong-buy” rating in a report on Tuesday, January 14th. Jefferies Financial Group lifted their price objective on shares of Semrush from $17.00 to $21.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Finally, Morgan Stanley upgraded shares of Semrush from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $17.00 to $20.00 in a report on Monday, January 13th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Semrush currently has an average rating of “Buy” and a consensus price target of $18.71.

Insider Transactions at Semrush

In other news, CEO Oleg Shchegolev sold 6,859 shares of Semrush stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $11.71, for a total value of $80,318.89. Following the transaction, the chief executive officer now owns 7,301,214 shares of the company’s stock, valued at $85,497,215.94. The trade was a 0.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Vitalii Obishchenko sold 5,293 shares of Semrush stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $11.73, for a total transaction of $62,086.89. Following the completion of the transaction, the chief operating officer now directly owns 838,659 shares in the company, valued at approximately $9,837,470.07. The trade was a 0.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 481,253 shares of company stock valued at $6,192,121 in the last 90 days. Insiders own 57.83% of the company’s stock.

Semrush Stock Performance

NASDAQ:SEMR opened at $10.16 on Friday. Semrush Holdings, Inc. has a one year low of $9.73 and a one year high of $18.74. The firm has a market cap of $1.49 billion, a P/E ratio of 126.95 and a beta of 1.77. The firm has a 50-day simple moving average of $14.88 and a 200-day simple moving average of $14.10.

Semrush 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.