Russell Investments Group Ltd. trimmed its position in shares of Similarweb Ltd. (NYSE:SMWB - Free Report) by 24.3% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 270,594 shares of the company's stock after selling 86,779 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.33% of Similarweb worth $2,238,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also modified their holdings of the company. Schonfeld Strategic Advisors LLC acquired a new stake in Similarweb during the fourth quarter worth about $22,536,000. Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of Similarweb by 61.3% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,762,557 shares of the company's stock valued at $22,846,000 after buying an additional 1,050,000 shares during the period. Nuveen LLC acquired a new stake in shares of Similarweb during the 1st quarter worth approximately $5,979,000. T. Rowe Price Investment Management Inc. purchased a new stake in shares of Similarweb during the 4th quarter valued at approximately $9,563,000. Finally, CenterBook Partners LP raised its position in shares of Similarweb by 307.2% during the 1st quarter. CenterBook Partners LP now owns 807,696 shares of the company's stock valued at $6,680,000 after buying an additional 609,365 shares during the period. 57.59% of the stock is owned by institutional investors and hedge funds.
Similarweb Trading Down 0.4%
SMWB traded down $0.05 during mid-day trading on Friday, hitting $10.35. 635,946 shares of the stock were exchanged, compared to its average volume of 611,850. The firm's fifty day moving average is $8.38 and its two-hundred day moving average is $8.30. Similarweb Ltd. has a 1-year low of $6.36 and a 1-year high of $17.64. The company has a market cap of $878.71 million, a PE ratio of -29.58 and a beta of 1.11.
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on SMWB shares. Citigroup cut their target price on Similarweb from $13.00 to $11.00 and set a "buy" rating for the company in a research note on Friday, August 1st. Oppenheimer increased their price target on Similarweb from $13.00 to $14.00 and gave the stock an "outperform" rating in a report on Monday, August 18th. Zacks Research upgraded Similarweb from a "strong sell" rating to a "hold" rating in a report on Thursday, August 14th. Finally, Barclays reiterated an "overweight" rating on shares of Similarweb in a report on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $14.88.
Check Out Our Latest Stock Analysis on Similarweb
About Similarweb
(
Free Report)
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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