Allspring Global Investments Holdings LLC Lowers Stock Holdings in Semrush Holdings, Inc. (NASDAQ:SEMR)

Allspring Global Investments Holdings LLC lowered its stake in Semrush Holdings, Inc. (NASDAQ:SEMR - Free Report) by 36.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 368,267 shares of the company's stock after selling 209,964 shares during the period. Allspring Global Investments Holdings LLC owned about 0.25% of Semrush worth $3,521,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Semrush during the 1st quarter worth about $214,000. Rhumbline Advisers raised its position in shares of Semrush by 4.9% during the 1st quarter. Rhumbline Advisers now owns 49,889 shares of the company's stock worth $465,000 after acquiring an additional 2,314 shares in the last quarter. California State Teachers Retirement System raised its position in shares of Semrush by 18.4% during the 4th quarter. California State Teachers Retirement System now owns 34,587 shares of the company's stock worth $411,000 after acquiring an additional 5,380 shares in the last quarter. Mackenzie Financial Corp acquired a new stake in shares of Semrush during the 4th quarter worth about $308,000. Finally, PharVision Advisers LLC acquired a new stake in shares of Semrush during the 4th quarter worth about $213,000. Institutional investors and hedge funds own 32.86% of the company's stock.

Insider Buying and Selling

In other Semrush news, CMO Andrew Warden sold 7,344 shares of Semrush stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $10.81, for a total value of $79,388.64. Following the transaction, the chief marketing officer directly owned 393,655 shares in the company, valued at approximately $4,255,410.55. This trade represents a 1.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Anna Baird sold 20,000 shares of Semrush stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $10.00, for a total value of $200,000.00. Following the completion of the transaction, the director owned 26,556 shares in the company, valued at $265,560. This trade represents a 42.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,565,457 shares of company stock worth $25,686,865. 55.61% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SEMR. Morgan Stanley cut their target price on Semrush from $19.00 to $13.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. The Goldman Sachs Group cut their target price on Semrush from $14.00 to $12.00 and set a "neutral" rating on the stock in a research report on Friday, March 28th. Finally, KeyCorp dropped their price target on Semrush from $18.00 to $16.00 and set an "overweight" rating on the stock in a research note on Thursday, May 8th. One investment 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 data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $16.43.

Semrush Stock Down 1.0%

NASDAQ:SEMR traded down $0.10 during mid-day trading on Thursday, reaching $8.96. 698,142 shares of the stock were exchanged, compared to its average volume of 587,846. The company has a 50 day simple moving average of $9.76 and a 200-day simple moving average of $11.51. The stock has a market capitalization of $1.33 billion, a P/E ratio of 111.95 and a beta of 1.65. Semrush Holdings, Inc. has a 1 year low of $7.90 and a 1 year high of $18.74.

Semrush 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.