Semrush (NASDAQ:SEMR) Hits New 12-Month Low Following Insider Selling

Shares of Semrush Holdings, Inc. (NASDAQ:SEMR) reached a new 52-week low during trading on Thursday after an insider sold shares in the company. The stock traded as low as $10.30 and last traded at $10.57, with a volume of 45755 shares traded. The stock had previously closed at $10.74.

Specifically, CMO Andrew Warden sold 17,118 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $11.20, for a total transaction of $191,721.60. Following the transaction, the chief marketing officer now owns 404,992 shares in the company, valued at approximately $4,535,910.40. This represents a 4.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider David W. Mason sold 9,127 shares of Semrush stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $11.14, for a total value of $101,674.78. Following the transaction, the insider now owns 272,924 shares of the company’s stock, valued at $3,040,373.36. This trade represents a 3.24 % decrease in their position. The disclosure for this sale can be found here. In other news, CFO Brian Mulroy sold 22,547 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $11.20, for a total value of $252,526.40. Following the completion of the sale, the chief financial officer now directly owns 698,558 shares of the company’s stock, valued at $7,823,849.60. This represents a 3.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Wall Street Analyst Weigh In

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

Semrush Trading Down 3.7 %

The stock has a fifty day simple moving average of $14.88 and a two-hundred day simple moving average of $14.10. The firm has a market cap of $1.52 billion, a PE ratio of 129.33 and a beta of 1.77.

Hedge Funds Weigh In On Semrush

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Topline Capital Management LLC bought a new stake in shares of Semrush during the 4th quarter valued at about $9,267,000. Millennium Management LLC increased its holdings in shares of Semrush by 153.8% in the 4th quarter. Millennium Management LLC now owns 1,246,109 shares of the company’s stock worth $14,804,000 after buying an additional 755,220 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Semrush during the 4th quarter valued at $6,869,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Semrush by 122.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 984,544 shares of the company’s stock worth $11,696,000 after acquiring an additional 541,899 shares during the last quarter. Finally, FMR LLC grew its position in Semrush by 19.4% in the third quarter. FMR LLC now owns 2,876,365 shares of the company’s stock worth $45,188,000 after acquiring an additional 467,517 shares in the last quarter. 32.86% of the stock is currently owned by hedge funds and other institutional investors.

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.