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

Allspring Global Investments Holdings LLC trimmed its stake in Semrush Holdings, Inc. (NASDAQ:SEMR - Free Report) by 36.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 368,267 shares of the company's stock after selling 209,964 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.25% of Semrush worth $3,521,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in SEMR. US Bancorp DE boosted its holdings in Semrush by 2,127.2% in the fourth quarter. US Bancorp DE now owns 3,608 shares of the company's stock worth $43,000 after acquiring an additional 3,446 shares in the last quarter. Quarry LP boosted its holdings in Semrush by 504.8% in the fourth quarter. Quarry LP now owns 4,300 shares of the company's stock worth $51,000 after acquiring an additional 3,589 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in Semrush in the fourth quarter worth $71,000. Comerica Bank boosted its holdings in Semrush by 14.6% in the fourth quarter. Comerica Bank now owns 6,304 shares of the company's stock worth $75,000 after acquiring an additional 801 shares in the last quarter. Finally, Aquatic Capital Management LLC bought a new stake in Semrush in the fourth quarter worth $86,000. 32.86% of the stock is owned by institutional investors.

Semrush Stock Down 0.3%

NASDAQ:SEMR traded down $0.03 on Tuesday, hitting $9.01. The stock had a trading volume of 1,125,420 shares, compared to its average volume of 586,287. The business's 50-day simple moving average is $9.81 and its two-hundred day simple moving average is $11.55. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of 112.64 and a beta of 1.65. Semrush Holdings, Inc. has a 52-week low of $7.90 and a 52-week high of $18.74.

Wall Street Analysts Forecast Growth

Several research firms have commented on SEMR. The Goldman Sachs Group dropped their target price on Semrush from $14.00 to $12.00 and set a "neutral" rating on the stock in a report on Friday, March 28th. KeyCorp decreased their price target on Semrush from $18.00 to $16.00 and set an "overweight" rating for the company in a research note on Thursday, May 8th. Finally, Morgan Stanley decreased their price target on Semrush from $19.00 to $13.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $16.43.

Insider Activity at Semrush

In other Semrush news, CMO Andrew Warden sold 7,344 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David W. Mason sold 7,500 shares of the company's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $10.03, for a total value of $75,225.00. Following the completion of the sale, the insider owned 261,702 shares of the company's stock, valued at approximately $2,624,871.06. The trade was a 2.79% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,565,457 shares of company stock valued at $25,686,865 in the last three months. Corporate insiders own 55.61% of the company's stock.

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.