S Squared Technology LLC Reduces Stake in Similarweb Ltd. $SMWB

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 reduced its position in Similarweb Ltd. (NYSE:SMWB - Free Report) by 5.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,000,491 shares of the company's stock after selling 55,800 shares during the period. Similarweb makes up about 4.2% of S Squared Technology LLC's investment portfolio, making the stock its 11th biggest position. S Squared Technology LLC owned approximately 1.21% of Similarweb worth $8,274,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nuveen LLC purchased a new position in shares of Similarweb in the 1st quarter worth $5,979,000. Herald Investment Management Ltd purchased a new position in shares of Similarweb in the 1st quarter worth $2,478,000. BNP Paribas Financial Markets purchased a new position in shares of Similarweb in the 4th quarter worth $1,254,000. Bank of America Corp DE boosted its stake in shares of Similarweb by 145.0% in the 4th quarter. Bank of America Corp DE now owns 276,935 shares of the company's stock worth $3,924,000 after buying an additional 163,919 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. boosted its stake in shares of Similarweb by 109.1% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,410,826 shares of the company's stock worth $11,668,000 after buying an additional 736,004 shares during the last quarter. 57.59% of the stock is currently owned by hedge funds and other institutional investors.

Similarweb Stock Up 3.3%

NYSE:SMWB opened at $10.05 on Tuesday. The business's 50-day simple moving average is $8.73 and its two-hundred day simple moving average is $8.20. The stock has a market cap of $852.52 million, a PE ratio of -28.70 and a beta of 1.13. Similarweb Ltd. has a 52 week low of $6.36 and a 52 week high of $17.64.

Analysts Set New Price Targets

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

Similarweb 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.

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