Russell Investments Group Ltd. Sells 86,779 Shares of Similarweb Ltd. $SMWB

Key Points

• Russell Investments Group Ltd. reduced its shareholding in Similarweb Ltd. by 24.3%, now holding 270,594 shares worth approximately $2.24 million.
• Hedge funds are actively changing their positions in Similarweb, with notable increases including a 61.3% stake lift by Migdal Insurance & Financial Holdings Ltd. and a 307.2% increase by CenterBook Partners LP.
• Shares of Similarweb have fluctuated significantly, trading between a 52-week low of $6.36 and a high of $17.64, with the stock currently priced at $9.16.

Russell Investments Group Ltd. lowered its holdings in shares of Similarweb Ltd. (NYSE:SMWB - Free Report) by 24.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund 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 Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in SMWB. Public Employees Retirement System of Ohio increased its holdings in Similarweb by 25.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 9,900 shares of the company's stock worth $140,000 after acquiring an additional 2,000 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Similarweb by 15.5% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,032 shares of the company's stock valued at $174,000 after purchasing an additional 2,825 shares in the last quarter. Legal & General Group Plc lifted its holdings in Similarweb by 21.7% during the fourth quarter. Legal & General Group Plc now owns 39,371 shares of the company's stock valued at $558,000 after purchasing an additional 7,020 shares in the last quarter. Teacher Retirement System of Texas lifted its holdings in Similarweb by 70.1% during the first quarter. Teacher Retirement System of Texas now owns 18,362 shares of the company's stock valued at $152,000 after purchasing an additional 7,566 shares in the last quarter. Finally, Heck Capital Advisors LLC purchased a new position in Similarweb during the fourth quarter valued at approximately $115,000. 57.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SMWB has been the topic of several analyst reports. Barclays reaffirmed an "overweight" rating on shares of Similarweb in a report on Wednesday, August 13th. Citigroup lowered their price objective on Similarweb from $13.00 to $11.00 and set a "buy" rating on the stock in a research report on Friday, August 1st. Oppenheimer boosted their price objective on Similarweb from $13.00 to $14.00 and gave the company an "outperform" rating in a research report on Monday, August 18th. Finally, Zacks Research raised Similarweb from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $14.88.

Similarweb Trading Down 0.4%

SMWB traded down $0.05 on Friday, hitting $10.35. 635,948 shares of the company's stock traded hands, compared to its average volume of 611,213. The company's 50 day simple moving average is $8.45 and its 200-day simple moving average is $8.21. Similarweb Ltd. has a one year low of $6.36 and a one year high of $17.64. The firm has a market cap of $878.74 million, a price-to-earnings ratio of -29.58 and a beta of 1.13.

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.