CenterBook Partners LP Buys 609,365 Shares of Similarweb Ltd. (NYSE:SMWB)

CenterBook Partners LP increased its holdings in Similarweb Ltd. (NYSE:SMWB - Free Report) by 307.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 807,696 shares of the company's stock after acquiring an additional 609,365 shares during the period. CenterBook Partners LP owned about 0.98% of Similarweb worth $6,680,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Swiss National Bank boosted its holdings in shares of Similarweb by 28.4% during the fourth quarter. Swiss National Bank now owns 80,974 shares of the company's stock worth $1,147,000 after purchasing an additional 17,900 shares during the period. Natixis Advisors LLC purchased a new stake in shares of Similarweb during the fourth quarter worth $255,000. Teacher Retirement System of Texas acquired a new stake in Similarweb during the fourth quarter valued at $153,000. Quantbot Technologies LP grew its stake in Similarweb by 247.3% in the fourth quarter. Quantbot Technologies LP now owns 29,652 shares of the company's stock valued at $420,000 after purchasing an additional 21,115 shares in the last quarter. Finally, Sei Investments Co. acquired a new position in Similarweb in the 4th quarter worth about $966,000. 57.59% of the stock is currently owned by institutional investors and hedge funds.

Similarweb Stock Up 1.2%

Shares of NYSE:SMWB traded up $0.10 during midday trading on Wednesday, reaching $8.30. 237,249 shares of the company were exchanged, compared to its average volume of 494,917. The stock has a fifty day simple moving average of $7.85 and a two-hundred day simple moving average of $9.84. Similarweb Ltd. has a fifty-two week low of $5.71 and a fifty-two week high of $17.64. The firm has a market cap of $685.83 million, a PE ratio of -37.73 and a beta of 1.10.

Similarweb (NYSE:SMWB - Get Free Report) last posted its quarterly earnings results on Tuesday, May 13th. The company reported ($0.11) earnings per share for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.09). Similarweb had a negative net margin of 6.97% and a negative return on equity of 71.14%. The company had revenue of $67.09 million during the quarter, compared to the consensus estimate of $66.37 million. As a group, analysts forecast that Similarweb Ltd. will post -0.24 earnings per share for the current year.

Analyst Ratings Changes

SMWB has been the subject of several research reports. Barclays reduced their price target on Similarweb from $15.00 to $10.00 and set an "overweight" rating for the company in a report on Thursday, May 15th. The Goldman Sachs Group reduced their target price on shares of Similarweb from $13.00 to $10.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Similarweb currently has an average rating of "Buy" and an average price target of $15.75.

Similarweb Profile

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.