104,423 Shares in Similarweb Ltd. $SMWB Purchased by Palogic Value Management L.P.

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

Other large investors have also recently added to or reduced their stakes in the company. Heck Capital Advisors LLC bought a new stake in Similarweb during the fourth quarter worth about $115,000. Public Employees Retirement System of Ohio grew its stake in Similarweb by 25.3% during the fourth quarter. Public Employees Retirement System of Ohio now owns 9,900 shares of the company's stock worth $140,000 after buying an additional 2,000 shares during the last quarter. Fullcircle Wealth LLC bought a new stake in Similarweb during the first quarter worth about $117,000. Teacher Retirement System of Texas grew its stake in Similarweb by 70.1% during the first quarter. Teacher Retirement System of Texas now owns 18,362 shares of the company's stock worth $152,000 after buying an additional 7,566 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Similarweb by 15.5% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,032 shares of the company's stock worth $174,000 after buying an additional 2,825 shares during the last quarter. 57.59% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SMWB has been the topic of several research analyst reports. Barclays reaffirmed an "overweight" rating on shares of Similarweb in a research note on Wednesday, August 13th. Oppenheimer upped their price objective on shares of Similarweb from $13.00 to $14.00 and gave the stock an "outperform" rating in a research note on Monday, August 18th. Zacks Research raised shares of Similarweb from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 14th. Finally, Citigroup lowered their price target on shares of Similarweb from $13.00 to $11.00 and set a "buy" rating for the company in a report on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $14.88.

Similarweb Stock Performance

Shares of SMWB opened at $10.05 on Tuesday. The firm has a market capitalization of $852.52 million, a price-to-earnings ratio of -28.70 and a beta of 1.13. The business's fifty day moving average price is $8.73 and its two-hundred day moving average price is $8.20. Similarweb Ltd. has a 52 week low of $6.36 and a 52 week high of $17.64.

About Similarweb

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.

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