Semrush Holdings, Inc. (NASDAQ:SEMR) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its stake in Semrush Holdings, Inc. (NASDAQ:SEMR - Free Report) by 36.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 368,267 shares of the company's stock after selling 209,964 shares during the period. Allspring Global Investments Holdings LLC owned 0.25% of Semrush worth $3,521,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. US Bancorp DE grew its position in shares of Semrush by 2,127.2% during 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 during the last quarter. Quarry LP grew its position in shares of Semrush by 504.8% during 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 during the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Semrush during the fourth quarter worth approximately $71,000. Comerica Bank grew its position in shares of Semrush by 14.6% during the fourth quarter. Comerica Bank now owns 6,304 shares of the company's stock worth $75,000 after acquiring an additional 801 shares during the last quarter. Finally, Aquatic Capital Management LLC purchased a new position in shares of Semrush during the fourth quarter worth approximately $86,000. 32.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SEMR has been the topic of a number of analyst reports. Morgan Stanley lowered their price objective on shares of Semrush from $19.00 to $13.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. KeyCorp lowered their price objective on shares of Semrush from $18.00 to $16.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. Finally, The Goldman Sachs Group lowered their price objective on shares of Semrush from $14.00 to $12.00 and set a "neutral" rating on the stock in a research report on Friday, March 28th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Semrush presently has an average rating of "Buy" and a consensus price target of $16.43.

Semrush Stock Performance

Semrush stock traded down $0.11 during midday trading on Monday, reaching $9.04. The company's stock had a trading volume of 665,545 shares, compared to its average volume of 584,129. Semrush Holdings, Inc. has a fifty-two week low of $7.90 and a fifty-two week high of $18.74. The stock's 50 day simple moving average is $9.83 and its 200 day simple moving average is $11.57. The firm has a market capitalization of $1.34 billion, a PE ratio of 113.01 and a beta of 1.65.

Insider Buying and Selling

In other Semrush news, CFO Brian Mulroy sold 20,000 shares of the firm's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $10.43, for a total value of $208,600.00. Following the completion of the sale, the chief financial officer owned 907,385 shares of the company's stock, valued at approximately $9,464,025.55. This trade represents a 2.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Andrew Warden sold 7,344 shares of Semrush stock in a transaction 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 of the company's stock, valued at $4,255,410.55. This trade represents a 1.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,565,457 shares of company stock valued at $25,686,865 in the last quarter. 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.