Millennium Management LLC Raises Holdings in Semrush Holdings, Inc. (NASDAQ:SEMR)

Millennium Management LLC lifted its stake in shares of Semrush Holdings, Inc. (NASDAQ:SEMR - Free Report) by 153.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,246,109 shares of the company's stock after purchasing an additional 755,220 shares during the quarter. Millennium Management LLC owned 0.85% of Semrush worth $14,804,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. US Bancorp DE boosted its position in Semrush by 2,127.2% during the 4th quarter. US Bancorp DE now owns 3,608 shares of the company's stock worth $43,000 after buying an additional 3,446 shares during the period. Quarry LP grew its stake in Semrush by 504.8% during the fourth quarter. Quarry LP now owns 4,300 shares of the company's stock worth $51,000 after purchasing an additional 3,589 shares during the period. KLP Kapitalforvaltning AS bought a new stake in Semrush in the fourth quarter worth approximately $71,000. Comerica Bank lifted its stake in Semrush by 14.6% in the fourth quarter. Comerica Bank now owns 6,304 shares of the company's stock valued at $75,000 after buying an additional 801 shares during the period. Finally, Aquatic Capital Management LLC acquired a new position in Semrush in the fourth quarter valued at approximately $86,000. Institutional investors and hedge funds own 32.86% of the company's stock.

Insider Transactions at Semrush

In related news, CMO Andrew Warden sold 17,118 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $11.20, for a total value of $191,721.60. Following the sale, the chief marketing officer now directly owns 404,992 shares in the company, valued at approximately $4,535,910.40. The trade was a 4.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Brian Mulroy sold 22,547 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $11.20, for a total transaction of $252,526.40. Following the transaction, the chief financial officer now owns 698,558 shares of the company's stock, valued at $7,823,849.60. This represents a 3.13% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 165,750 shares of company stock worth $1,801,402 in the last quarter. Insiders own 55.61% of the company's stock.

Semrush Stock Up 3.3%

SEMR traded up $0.32 during trading on Tuesday, hitting $9.95. 323,589 shares of the company traded hands, compared to its average volume of 546,016. Semrush Holdings, Inc. has a one year low of $7.90 and a one year high of $18.74. The stock's fifty day moving average is $9.74 and its 200 day moving average is $12.44. The firm has a market cap of $1.46 billion, a P/E ratio of 124.33 and a beta of 1.79.

Analysts Set New Price Targets

Several research analysts recently issued reports on SEMR shares. The Goldman Sachs Group cut their target price on shares of Semrush from $14.00 to $12.00 and set a "neutral" rating on the stock in a research note on Friday, March 28th. Morgan Stanley cut their price objective on shares of Semrush from $19.00 to $13.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. KeyCorp reduced their target price on Semrush from $18.00 to $16.00 and set an "overweight" rating for the company in a research note on Thursday, May 8th. Finally, Jefferies Financial Group upped their price target on Semrush from $17.00 to $21.00 and gave the stock a "buy" rating in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $16.43.

About Semrush

Semrush Holdings, Inc develops an online visibility management software-as-a-service platform in the United States, the United Kingdom, and internationally. The company enables companies to identify and reach the right audience for their content through the right channels. Its platform enables the company's customers to understand trends and act upon insights to enhance the online visibility, and drive traffic to their websites and social media pages, as well as online listings, distribute targeted content to their customers, and measure the digital marketing campaigns.