State Street Corp Increases Stock Position in Semrush Holdings, Inc. (NASDAQ:SEMR)

State Street Corp grew its holdings in shares of Semrush Holdings, Inc. (NASDAQ:SEMR) by 1.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 954,409 shares of the company’s stock after purchasing an additional 13,374 shares during the quarter. State Street Corp owned approximately 0.65% of Semrush worth $14,994,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of SEMR. Verition Fund Management LLC lifted its position in shares of Semrush by 278.9% in the third quarter. Verition Fund Management LLC now owns 134,531 shares of the company’s stock valued at $2,113,000 after acquiring an additional 99,021 shares in the last quarter. VELA Investment Management LLC purchased a new stake in shares of Semrush during the 3rd quarter valued at about $701,000. Renaissance Technologies LLC bought a new position in shares of Semrush during the 2nd quarter valued at approximately $3,732,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Semrush in the second quarter valued at $3,006,000. Finally, GSA Capital Partners LLP purchased a new position in shares of Semrush during the third quarter valued at approximately $1,060,000. Institutional investors own 32.86% of the company’s stock.

Insider Activity at Semrush

In related news, Director Dmitry Melnikov sold 34,566 shares of Semrush stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $12.32, for a total transaction of $425,853.12. Following the completion of the sale, the director now owns 8,868,125 shares in the company, valued at approximately $109,255,300. This trade represents a 0.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mark Vranesh sold 7,500 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $15.51, for a total value of $116,325.00. Following the sale, the director now owns 113,731 shares in the company, valued at $1,763,967.81. This trade represents a 6.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 233,056 shares of company stock valued at $3,054,001 over the last three months. 57.83% of the stock is owned by corporate insiders.

Semrush Price Performance

Shares of NASDAQ:SEMR opened at $12.32 on Wednesday. The firm has a market capitalization of $1.81 billion, a PE ratio of 154.02 and a beta of 1.59. The firm’s 50-day moving average is $13.50 and its two-hundred day moving average is $13.75. Semrush Holdings, Inc. has a 1 year low of $9.64 and a 1 year high of $16.42.

Analyst Ratings Changes

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

About Semrush

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.