Cubist Systematic Strategies LLC boosted its holdings in shares of Similarweb Ltd. (NYSE:SMWB - Free Report) by 80.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 185,502 shares of the company's stock after purchasing an additional 82,536 shares during the quarter. Cubist Systematic Strategies LLC owned approximately 0.22% of Similarweb worth $1,534,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the business. Migdal Insurance & Financial Holdings Ltd. boosted its position in Similarweb by 61.3% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,762,557 shares of the company's stock worth $22,846,000 after purchasing an additional 1,050,000 shares in the last quarter. Phoenix Financial Ltd. lifted its position in shares of Similarweb by 2.5% in the first quarter. Phoenix Financial Ltd. now owns 2,585,985 shares of the company's stock valued at $21,386,000 after acquiring an additional 63,978 shares in the last quarter. Menora Mivtachim Holdings LTD. lifted its position in shares of Similarweb by 33.2% in the first quarter. Menora Mivtachim Holdings LTD. now owns 2,246,470 shares of the company's stock valued at $18,578,000 after acquiring an additional 560,000 shares in the last quarter. Jennison Associates LLC lifted its position in shares of Similarweb by 2.9% in the first quarter. Jennison Associates LLC now owns 1,892,110 shares of the company's stock valued at $15,648,000 after acquiring an additional 53,055 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. lifted its position in shares of Similarweb by 109.1% in the first quarter. T. Rowe Price Investment Management Inc. now owns 1,410,826 shares of the company's stock valued at $11,668,000 after acquiring an additional 736,004 shares in the last quarter. Hedge funds and other institutional investors own 57.59% of the company's stock.
Similarweb Price Performance
Shares of NYSE:SMWB traded down $0.02 during midday trading on Wednesday, hitting $9.89. The company had a trading volume of 315,120 shares, compared to its average volume of 610,644. Similarweb Ltd. has a twelve month low of $6.36 and a twelve month high of $17.64. The stock has a market cap of $838.91 million, a price-to-earnings ratio of -28.24 and a beta of 1.13. The business's 50-day simple moving average is $8.75 and its 200-day simple moving average is $8.21.
Analyst Ratings Changes
SMWB has been the topic of several research reports. Zacks Research upgraded Similarweb from a "strong sell" rating to a "hold" rating in a research report on Thursday, August 14th. Citigroup cut their price target on Similarweb from $13.00 to $11.00 and set a "buy" rating for the company in a report on Friday, August 1st. Oppenheimer increased their price target on Similarweb from $13.00 to $14.00 and gave the company an "outperform" rating in a report on Monday, August 18th. Finally, Barclays reaffirmed an "overweight" rating on shares of Similarweb in a report on Wednesday, August 13th. Nine analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $14.88.
View Our Latest Research Report on SMWB
Similarweb Profile
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Free Report)
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.
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