Herald Investment Management Ltd Boosts Position in Similarweb Ltd. $SMWB

Key Points

• Herald Investment Management Ltd increased its stake in Similarweb Ltd by 100% in Q2, now holding 600,000 shares valued at approximately $4.71 million.
• Similarweb's stock has seen price adjustments from analysts, with Citigroup lowering its price target from $13.00 to $11.00, while Oppenheimer raised it from $13.00 to $14.00, indicating varied outlooks from different firms.
• As of the latest reports, similarweb shares have a market cap of $776.73 million and a beta of 1.10, with trading around $9.15.

Herald Investment Management Ltd grew its position in Similarweb Ltd. (NYSE:SMWB - Free Report) by 100.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 600,000 shares of the company's stock after buying an additional 300,000 shares during the quarter. Herald Investment Management Ltd owned 0.73% of Similarweb worth $4,710,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Nuveen LLC acquired a new stake in Similarweb in the 1st quarter valued at about $5,979,000. T. Rowe Price Investment Management Inc. lifted its holdings 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 purchasing an additional 736,004 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its position in shares of Similarweb by 61.3% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,762,557 shares of the company's stock valued at $22,846,000 after purchasing an additional 1,050,000 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Similarweb by 14.8% during the 1st quarter. Victory Capital Management Inc. now owns 493,370 shares of the company's stock worth $4,080,000 after purchasing an additional 63,588 shares in the last quarter. Finally, Ceera Investments LLC raised its position in shares of Similarweb by 22.8% during the 1st quarter. Ceera Investments LLC now owns 319,027 shares of the company's stock worth $2,638,000 after purchasing an additional 59,200 shares during the last quarter. Institutional investors and hedge funds own 57.59% of the company's stock.

Similarweb Stock Down 1.3%

NYSE:SMWB opened at $9.15 on Monday. The business's 50-day moving average price is $9.12 and its 200 day moving average price is $8.26. Similarweb Ltd. has a 52-week low of $6.36 and a 52-week high of $17.64. The firm has a market cap of $776.73 million, a P/E ratio of -26.15 and a beta of 1.10.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on SMWB shares. Citigroup dropped their price target on Similarweb from $13.00 to $11.00 and set a "buy" rating for the company in a research report on Friday, August 1st. Barclays reiterated an "overweight" rating on shares of Similarweb in a research report on Wednesday, August 13th. Zacks Research upgraded shares of Similarweb from a "strong sell" rating to a "hold" rating in a report on Thursday, August 14th. Oppenheimer raised their price target on shares of Similarweb from $13.00 to $14.00 and gave the stock an "outperform" rating in a research note on Monday, August 18th. Finally, Weiss Ratings reissued a "sell (e+)" rating on shares of Similarweb in a research report on Saturday, September 27th. Nine investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $14.88.

Similarweb Company 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.

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