Migdal Insurance & Financial Holdings Ltd. Acquires 1,050,000 Shares of Similarweb Ltd. (NYSE:SMWB)

Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of Similarweb Ltd. (NYSE:SMWB - Free Report) by 61.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,762,557 shares of the company's stock after purchasing an additional 1,050,000 shares during the period. Migdal Insurance & Financial Holdings Ltd. owned about 3.34% of Similarweb worth $22,846,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in SMWB. Public Employees Retirement System of Ohio lifted its stake in Similarweb by 25.3% in the fourth quarter. Public Employees Retirement System of Ohio now owns 9,900 shares of the company's stock valued at $140,000 after acquiring an additional 2,000 shares during the last quarter. Legal & General Group Plc increased its position in Similarweb by 21.7% during the fourth quarter. Legal & General Group Plc now owns 39,371 shares of the company's stock worth $558,000 after buying an additional 7,020 shares during the last quarter. Teacher Retirement System of Texas raised its stake in Similarweb by 70.1% in the first quarter. Teacher Retirement System of Texas now owns 18,362 shares of the company's stock valued at $152,000 after buying an additional 7,566 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in shares of Similarweb in the fourth quarter valued at approximately $115,000. Finally, Heck Capital Advisors LLC bought a new position in shares of Similarweb during the 4th quarter worth approximately $115,000. Institutional investors own 57.59% of the company's stock.

Similarweb Stock Up 3.1%

SMWB traded up $0.26 during trading on Friday, reaching $8.62. 504,828 shares of the stock traded hands, compared to its average volume of 499,193. The stock's 50-day moving average is $7.89 and its 200 day moving average is $9.76. Similarweb Ltd. has a 12 month low of $5.71 and a 12 month high of $17.64. The stock has a market capitalization of $712.18 million, a PE ratio of -39.18 and a beta of 1.10.

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

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on SMWB shares. The Goldman Sachs Group cut their price objective on shares of Similarweb from $13.00 to $10.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Barclays dropped their target price on shares of Similarweb from $15.00 to $10.00 and set an "overweight" rating for the company in a report on Thursday, May 15th. Nine investment 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, Similarweb presently has an average rating of "Buy" and an average target price 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.