Principal Financial Group Inc. Buys New Shares in Semrush Holdings, Inc. (NASDAQ:SEMR)

Principal Financial Group Inc. purchased a new position in Semrush Holdings, Inc. (NASDAQ:SEMR) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 28,900 shares of the company’s stock, valued at approximately $454,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Jacobs Levy Equity Management Inc. acquired a new stake in Semrush in the first quarter valued at approximately $543,000. VELA Investment Management LLC acquired a new stake in shares of Semrush during the third quarter valued at about $701,000. Cubist Systematic Strategies LLC acquired a new position in shares of Semrush in the second quarter worth about $3,006,000. Renaissance Technologies LLC purchased a new position in Semrush in the second quarter valued at about $3,732,000. Finally, SG Americas Securities LLC acquired a new stake in Semrush during the 2nd quarter valued at approximately $654,000. Hedge funds and other institutional investors own 32.86% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. KeyCorp upped their target price on Semrush from $19.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Needham & Company LLC reiterated a “buy” rating and set a $18.00 price objective on shares of Semrush in a research note on Monday, November 11th. JPMorgan Chase & Co. raised their price objective on shares of Semrush from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Finally, The Goldman Sachs Group upped their target price 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. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Semrush presently has an average rating of “Moderate Buy” and an average target price of $16.50.

Insider Buying and Selling at Semrush

In other Semrush news, Director Mark Vranesh sold 7,500 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $15.51, for a total transaction of $116,325.00. Following the sale, the director now directly owns 113,731 shares in the company, valued at approximately $1,763,967.81. The trade was a 6.19 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Brian Mulroy sold 4,207 shares of the stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $13.12, for a total transaction 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 $5,683,728.32. This trade represents a 0.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 164,123 shares of company stock valued at $2,320,088 in the last ninety days. Company insiders own 57.83% of the company’s stock.

Semrush Trading Down 4.0 %

Shares of NASDAQ SEMR opened at $14.17 on Monday. The company has a market cap of $2.08 billion, a price-to-earnings ratio of 177.13 and a beta of 1.62. Semrush Holdings, Inc. has a 12-month low of $9.64 and a 12-month high of $16.42. The stock’s 50 day simple moving average is $13.89 and its 200 day simple moving average is $14.07.

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.