Cetera Investment Advisers Takes $332,000 Position in Similarweb Ltd. $SMWB

Key Points

• Cetera Investment Advisers has acquired a new position in Similarweb Ltd. by purchasing 40,161 shares, valued at approximately $332,000.
• Institutional ownership of Similarweb is significant, with 57.59% of shares held by institutional investors and hedge funds.
• Equities analysts are optimistic about the company's prospects, with a consensus rating of "Buy" and a price target averaging $14.88.

Cetera Investment Advisers purchased a new stake in shares of Similarweb Ltd. (NYSE:SMWB - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 40,161 shares of the company's stock, valued at approximately $332,000.

Other large investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its stake in Similarweb by 9.4% during the fourth quarter. JPMorgan Chase & Co. now owns 187,644 shares of the company's stock valued at $2,659,000 after purchasing an additional 16,105 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Similarweb by 236.6% in the 4th quarter. Geode Capital Management LLC now owns 33,730 shares of the company's stock valued at $478,000 after buying an additional 23,708 shares during the period. Legal & General Group Plc grew its position in shares of Similarweb by 21.7% during the 4th quarter. Legal & General Group Plc now owns 39,371 shares of the company's stock valued at $558,000 after buying an additional 7,020 shares during the last quarter. Jump Financial LLC raised its stake in Similarweb by 111.3% during the fourth quarter. Jump Financial LLC now owns 67,300 shares of the company's stock worth $954,000 after acquiring an additional 35,446 shares during the period. Finally, Marshall Wace LLP raised its stake in Similarweb by 22.8% during the fourth quarter. Marshall Wace LLP now owns 358,736 shares of the company's stock worth $5,083,000 after acquiring an additional 66,514 shares during the period. 57.59% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on SMWB shares. Oppenheimer lifted their target price on Similarweb from $13.00 to $14.00 and gave the company an "outperform" rating in a research note on Monday, August 18th. Barclays restated an "overweight" rating on shares of Similarweb in a research report on Wednesday, August 13th. Citigroup lowered their price objective on Similarweb from $13.00 to $11.00 and set a "buy" rating for the company in a research note 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. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $14.88.

Similarweb Price Performance

Shares of SMWB traded up $0.3910 during trading hours on Friday, reaching $9.1310. 487,932 shares of the company's stock traded hands, compared to its average volume of 510,744. Similarweb Ltd. has a twelve month low of $6.36 and a twelve month high of $17.64. The business's fifty day simple moving average is $8.21 and its two-hundred day simple moving average is $8.38. The firm has a market capitalization of $774.95 million, a price-to-earnings ratio of -26.09 and a beta of 1.11.

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.