PDT Partners LLC Purchases 56,991 Shares of Similarweb Ltd. $SMWB

Key Points

• PDT Partners LLC increased its stake in Similarweb Ltd. by 151.3%, acquiring an additional 56,991 shares to own a total of 94,671 shares valued at $783,000.
• Major institutional investors have also significantly increased their positions in Similarweb, with Northern Trust Corp boosting its stake by 437.4% and Bank of America Corp DE by 145.0% in the fourth quarter.
• Barclays and Zacks Research have recently issued ratings and price targets on Similarweb, indicating a consensus average target price of $14.88 and an overall rating of "Buy".

PDT Partners LLC boosted its position in Similarweb Ltd. (NYSE:SMWB - Free Report) by 151.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 94,671 shares of the company's stock after purchasing an additional 56,991 shares during the quarter. PDT Partners LLC owned about 0.11% of Similarweb worth $783,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Northern Trust Corp lifted its stake in shares of Similarweb by 437.4% in the 4th quarter. Northern Trust Corp now owns 66,277 shares of the company's stock worth $939,000 after acquiring an additional 53,945 shares during the period. BNP Paribas Financial Markets bought a new stake in Similarweb during the fourth quarter worth approximately $1,254,000. Bank of America Corp DE raised its holdings in Similarweb by 145.0% during the fourth quarter. Bank of America Corp DE now owns 276,935 shares of the company's stock worth $3,924,000 after purchasing an additional 163,919 shares in the last quarter. Cubist Systematic Strategies LLC raised its holdings in Similarweb by 10.8% during the fourth quarter. Cubist Systematic Strategies LLC now owns 102,966 shares of the company's stock worth $1,459,000 after purchasing an additional 10,031 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. raised its holdings in Similarweb by 54.8% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 292,584 shares of the company's stock worth $4,146,000 after purchasing an additional 103,544 shares in the last quarter. Institutional investors and hedge funds own 57.59% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SMWB. Barclays reissued an "overweight" rating on shares of Similarweb in a report on Wednesday, August 13th. Oppenheimer boosted their target price on shares of Similarweb from $13.00 to $14.00 and gave the stock an "outperform" rating in a report on Monday, August 18th. Citigroup dropped their target price on shares of Similarweb from $13.00 to $11.00 and set a "buy" rating on the stock in a report on Friday, August 1st. Finally, Zacks Research upgraded Similarweb from a "strong sell" rating to a "hold" rating in a report on Thursday, August 14th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $14.88.

Similarweb Trading Down 3.0%

Similarweb stock traded down $0.30 during trading hours on Tuesday, reaching $9.77. 58,279 shares of the company were exchanged, compared to its average volume of 611,229. The firm has a market cap of $829.18 million, a price-to-earnings ratio of -27.91 and a beta of 1.13. The stock has a 50-day moving average of $8.73 and a 200 day moving average of $8.20. Similarweb Ltd. has a 12 month low of $6.36 and a 12 month high of $17.64.

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.