Similarweb Ltd. $SMWB Stock Position Decreased by S Squared Technology LLC

Key Points

• S Squared Technology LLC reduced its stake in Similarweb Ltd. by 5.3% in Q1, owning approximately 1.21% of the company valued at around $8.27 million.
• Institutional investors have recently modified their holdings in Similarweb, with notable purchases from Nuveen LLC and T. Rowe Price Investment Management.
• The stock price of Similarweb has increased by 3.3%, and analysts have varying price targets with a consensus target price of $14.88, reflecting an overall positive outlook on the stock.

S Squared Technology LLC lowered its stake in Similarweb Ltd. (NYSE:SMWB - Free Report) by 5.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,000,491 shares of the company's stock after selling 55,800 shares during the quarter. Similarweb comprises 4.2% of S Squared Technology LLC's portfolio, making the stock its 11th largest position. S Squared Technology LLC owned about 1.21% of Similarweb worth $8,274,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Heck Capital Advisors LLC acquired a new stake in Similarweb in the fourth quarter valued at approximately $115,000. Fullcircle Wealth LLC purchased a new position in shares of Similarweb in the first quarter valued at $117,000. Public Employees Retirement System of Ohio grew its holdings in Similarweb by 25.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 9,900 shares of the company's stock valued at $140,000 after purchasing an additional 2,000 shares in the last quarter. Teacher Retirement System of Texas increased its stake in Similarweb by 70.1% during the 1st quarter. Teacher Retirement System of Texas now owns 18,362 shares of the company's stock worth $152,000 after buying an additional 7,566 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Similarweb by 15.5% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,032 shares of the company's stock worth $174,000 after buying an additional 2,825 shares in the last quarter. 57.59% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SMWB has been the subject of a number of analyst reports. Barclays reissued an "overweight" rating on shares of Similarweb in a research report on Wednesday, August 13th. Zacks Research raised Similarweb from a "strong sell" rating to a "hold" rating in a report on Thursday, August 14th. Oppenheimer raised their price objective on Similarweb from $13.00 to $14.00 and gave the company an "outperform" rating in a research note on Monday, August 18th. Finally, Citigroup cut their target price on Similarweb from $13.00 to $11.00 and set a "buy" rating on the stock in a research report on Friday, August 1st. Nine research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Similarweb presently has a consensus rating of "Moderate Buy" and a consensus price target of $14.88.

Similarweb Trading Up 1.0%

NYSE SMWB traded up $0.10 on Friday, hitting $10.09. 424,902 shares of the stock traded hands, compared to its average volume of 542,127. The stock has a 50-day moving average of $8.83 and a 200 day moving average of $8.21. Similarweb Ltd. has a twelve month low of $6.36 and a twelve month high of $17.64. The company has a market capitalization of $856.34 million, a P/E ratio of -28.83 and a beta of 1.13.

Similarweb Company Profile

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.