Envestnet Asset Management Inc. Invests $608,000 in Semrush Holdings, Inc. (NASDAQ:SEMR)

Envestnet Asset Management Inc. acquired a new stake in Semrush Holdings, Inc. (NASDAQ:SEMR - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 51,216 shares of the company's stock, valued at approximately $608,000.

A number of other hedge funds also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC bought a new position in Semrush during the fourth quarter worth about $6,869,000. Arrowstreet Capital Limited Partnership raised 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 buying an additional 541,899 shares in the last quarter. Los Angeles Capital Management LLC lifted its position in shares of Semrush by 312.8% during the 4th quarter. Los Angeles Capital Management LLC now owns 201,317 shares of the company's stock worth $2,392,000 after buying an additional 152,548 shares during the last quarter. Alliancebernstein L.P. lifted its position in shares of Semrush by 356.3% during the 4th quarter. Alliancebernstein L.P. now owns 149,421 shares of the company's stock worth $1,775,000 after buying an additional 116,672 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Semrush by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 5,177,228 shares of the company's stock valued at $61,505,000 after buying an additional 113,222 shares in the last quarter. 32.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SEMR has been the subject of several research analyst reports. Needham & Company LLC reissued a "buy" rating and set a $18.00 target price on shares of Semrush in a research note on Wednesday, January 15th. Jefferies Financial Group increased their price objective on shares of Semrush from $17.00 to $21.00 and gave the company a "buy" rating in a research note on Monday, February 3rd. Northland Capmk raised shares of Semrush to a "strong-buy" rating in a research note on Tuesday, January 14th. Morgan Stanley cut their price objective on Semrush from $19.00 to $13.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Finally, Northland Securities initiated coverage on Semrush in a report on Tuesday, January 14th. They issued an "outperform" rating and a $18.00 target price for the company. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $17.14.

Semrush Stock Up 0.1 %

SEMR traded up $0.01 during midday trading on Wednesday, hitting $10.16. 781,876 shares of the company were exchanged, compared to its average volume of 551,456. The firm has a market capitalization of $1.49 billion, a P/E ratio of 127.07 and a beta of 1.79. The firm's 50 day moving average price is $9.68 and its 200-day moving average price is $12.72. Semrush Holdings, Inc. has a 1-year low of $7.90 and a 1-year high of $18.74.

Insider Buying and Selling

In other news, President Eugenie Levin sold 11,662 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $11.15, for a total value of $130,031.30. Following the transaction, the president now owns 686,268 shares in the company, valued at approximately $7,651,888.20. The trade was a 1.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark Vranesh sold 5,000 shares of the stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $10.00, for a total transaction of $50,000.00. Following the sale, the director now owns 103,731 shares of the company's stock, valued at approximately $1,037,310. This trade represents a 4.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 158,406 shares of company stock valued at $1,722,014 over the last ninety days. 57.83% of the stock is owned by company insiders.

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.