Point72 Asset Management L.P. cut its holdings in Semrush Holdings, Inc. (NASDAQ:SEMR - Free Report) by 35.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 71,315 shares of the company's stock after selling 39,650 shares during the period. Point72 Asset Management L.P.'s holdings in Semrush were worth $847,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. US Bancorp DE raised its holdings in shares of Semrush by 2,127.2% in the fourth quarter. US Bancorp DE now owns 3,608 shares of the company's stock valued at $43,000 after purchasing an additional 3,446 shares during the last quarter. Quarry LP grew its stake in shares of Semrush by 504.8% in the fourth quarter. Quarry LP now owns 4,300 shares of the company's stock valued at $51,000 after buying an additional 3,589 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Semrush in the fourth quarter valued at $71,000. Comerica Bank grew its stake in shares of 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 in the last quarter. Finally, Aquatic Capital Management LLC bought a new position in shares of Semrush in the fourth quarter valued at $86,000. 32.86% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities analysts recently weighed in on the stock. Morgan Stanley decreased their target price on shares of Semrush from $19.00 to $13.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. KeyCorp decreased their target price on shares of Semrush from $18.00 to $16.00 and set an "overweight" rating for the company in a research note on Thursday, May 8th. The Goldman Sachs Group decreased their target price on shares of Semrush from $14.00 to $12.00 and set a "neutral" rating for the company in a research note on Friday, March 28th. Finally, Jefferies Financial Group raised their target price on shares of Semrush from $17.00 to $21.00 and gave the company a "buy" rating in a research note on Monday, February 3rd. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $16.43.
Check Out Our Latest Research Report on Semrush
Insiders Place Their Bets
In other news, CFO Brian Mulroy sold 22,547 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $11.20, for a total value of $252,526.40. Following the completion of the sale, the chief financial officer now owns 698,558 shares of the company's stock, valued at approximately $7,823,849.60. The trade was a 3.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Eugenie Levin sold 11,662 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $11.15, for a total transaction of $130,031.30. Following the completion of the sale, the president now directly owns 686,268 shares of the company's stock, valued at approximately $7,651,888.20. The trade was a 1.67% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 165,750 shares of company stock valued at $1,801,402 over the last ninety days. 57.83% of the stock is currently owned by company insiders.
Semrush Price Performance
SEMR stock opened at $9.84 on Friday. The company has a fifty day moving average price of $9.75 and a two-hundred day moving average price of $12.51. Semrush Holdings, Inc. has a one year low of $7.90 and a one year high of $18.74. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of 122.99 and a beta of 1.79.
Semrush Company Profile
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Free Report)
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.
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