Palogic Value Management L.P. Buys Shares of 104,423 Similarweb Ltd. $SMWB

Key Points

• Palogic Value Management L.P. acquired **104,423 shares** of Similarweb Ltd. (NYSE:SMWB), valued at approximately **$864,000**, establishing a new position in the company.
• Institutional investors own **57.59%** of Similarweb, with other notable firms like Heck Capital Advisors LLC and Teacher Retirement System of Texas increasing their stakes in recent quarters.
• Market analysts maintain a generally positive outlook on Similarweb, reflected in its average rating of **"Buy"** and a consensus price target of **$14.88**.

Palogic Value Management L.P. acquired a new position in Similarweb Ltd. (NYSE:SMWB - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 104,423 shares of the company's stock, valued at approximately $864,000. Palogic Value Management L.P. owned approximately 0.13% of Similarweb at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Northern Trust Corp raised its stake in shares of Similarweb by 437.4% during the 4th quarter. Northern Trust Corp now owns 66,277 shares of the company's stock worth $939,000 after purchasing an additional 53,945 shares in the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of Similarweb during the 4th quarter worth about $1,254,000. Bank of America Corp DE raised its stake in shares of Similarweb by 145.0% during the 4th quarter. Bank of America Corp DE now owns 276,935 shares of the company's stock worth $3,924,000 after purchasing an additional 163,919 shares in the last quarter. Cubist Systematic Strategies LLC raised its stake in shares of Similarweb by 10.8% during the 4th quarter. Cubist Systematic Strategies LLC now owns 102,966 shares of the company's stock worth $1,459,000 after purchasing an additional 10,031 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. raised its stake in shares of Similarweb by 54.8% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 292,584 shares of the company's stock worth $4,146,000 after purchasing an additional 103,544 shares in the last quarter. 57.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SMWB. Zacks Research raised Similarweb from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 14th. Oppenheimer raised their price target on Similarweb from $13.00 to $14.00 and gave the stock an "outperform" rating in a research note on Monday, August 18th. Barclays reaffirmed an "overweight" rating on shares of Similarweb in a research note on Wednesday, August 13th. Finally, Citigroup cut their price target on Similarweb from $13.00 to $11.00 and set a "buy" rating for the company in a research note on Friday, August 1st. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $14.88.

Similarweb Stock Performance

Shares of NYSE SMWB traded up $0.10 during mid-day trading on Friday, reaching $10.09. 424,902 shares of the company traded hands, compared to its average volume of 546,928. The stock has a market cap of $856.31 million, a PE ratio of -28.83 and a beta of 1.13. The company's fifty day moving average is $8.83 and its two-hundred day moving average is $8.22. Similarweb Ltd. has a fifty-two week low of $6.36 and a fifty-two week high of $17.64.

Similarweb Company Profile

Similarweb Ltd. provides cloud-based digital intelligence solutions in the United States, Europe, the Asia Pacific, the United Kingdom, Israel, and internationally. The company offers digital research intelligence solutions for its customers to benchmark performance against competitors and market leaders, analyze trends in the market, conduct deeper research into specific companies, and analyze audience behavior; and digital marketing intelligence solutions for its customers to understand their competitors' online acquisition strategies in each marketing channel, and optimize their own strategies.