Similarweb Ltd. $SMWB Position Lowered by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC reduced its stake in Similarweb Ltd. by 79.2%, selling over 703,000 shares, and now holds approximately 185,065 shares valued at $1.53 million.
• Several other institutional investors also adjusted their holdings, with T. Rowe Price increasing its stake by 109.1% to own over 1.4 million shares valued at around $11.67 million.
• Analyst ratings for Similarweb are mixed, with Citigroup lowering its price target from $13 to $11 while Oppenheimer raised it to $14, indicating a general consensus of Moderate Buy with an average price target of $14.88.

Acadian Asset Management LLC cut its holdings in Similarweb Ltd. (NYSE:SMWB - Free Report) by 79.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 185,065 shares of the company's stock after selling 703,577 shares during the period. Acadian Asset Management LLC owned about 0.22% of Similarweb worth $1,526,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of SMWB. Heck Capital Advisors LLC bought a new stake in shares of Similarweb during the 4th quarter worth about $115,000. Public Employees Retirement System of Ohio grew its position in Similarweb by 25.3% in the fourth quarter. Public Employees Retirement System of Ohio now owns 9,900 shares of the company's stock worth $140,000 after acquiring an additional 2,000 shares in the last quarter. Fullcircle Wealth LLC bought a new stake in Similarweb in the first quarter worth approximately $117,000. Teacher Retirement System of Texas boosted its holdings in shares of Similarweb by 70.1% during the 1st 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 period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Similarweb by 15.5% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,032 shares of the company's stock valued at $174,000 after purchasing an additional 2,825 shares during the period. 57.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Barclays reiterated an "overweight" rating on shares of Similarweb in a research report on Wednesday, August 13th. Oppenheimer boosted their price objective on Similarweb from $13.00 to $14.00 and gave the company an "outperform" rating in a research report on Monday, August 18th. Citigroup lowered their target price on Similarweb from $13.00 to $11.00 and set a "buy" rating on the stock in a report on Friday, August 1st. Finally, Zacks Research raised Similarweb from a "strong sell" rating to a "hold" rating in a research report on Thursday, August 14th. Nine investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $14.88.

Similarweb Stock Performance

Shares of NYSE SMWB traded down $0.13 during trading on Friday, reaching $9.72. The stock had a trading volume of 276,362 shares, compared to its average volume of 498,511. Similarweb Ltd. has a fifty-two week low of $6.36 and a fifty-two week high of $17.64. The business's 50-day moving average price is $8.95 and its 200-day moving average price is $8.24. The company has a market cap of $824.94 million, a P/E ratio of -27.77 and a beta of 1.13.

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.