Similarweb Ltd. $SMWB Position Increased by Renaissance Technologies LLC

Key Points

• Renaissance Technologies more than doubled its Similarweb stake in the first quarter, acquiring 378,200 additional shares and bringing its holdings to 739,673 shares, or approximately 0.84% of the company.
• Similarweb directors increased their positions through open-market purchases, while insiders bought 271,105 shares worth roughly $1.02 million over the past 90 days. Institutional investors and hedge funds collectively own 57.59% of the stock.
• Analysts maintain a consensus “Hold” rating with an $8.29 price target. Shares opened at $7.16, while the company’s latest quarterly results met EPS expectations and exceeded revenue estimates.

Renaissance Technologies LLC lifted its stake in shares of Similarweb Ltd. (NYSE:SMWB - Free Report) by 104.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 739,673 shares of the company's stock after purchasing an additional 378,200 shares during the period. Renaissance Technologies LLC owned approximately 0.84% of Similarweb worth $1,931,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Larson Financial Group LLC purchased a new stake in Similarweb in the 3rd quarter worth about $25,000. Wexford Capital LP bought a new stake in Similarweb in the third quarter worth $64,000. Brooklyn Investment Group bought a new stake in shares of Similarweb during the 4th quarter worth about $85,000. Boothbay Fund Management LLC acquired a new position in Similarweb during the fourth quarter valued at approximately $90,000. Finally, Nebula Research & Development LLC acquired a new position in Similarweb in the 2nd quarter valued at $146,000. Institutional investors and hedge funds own 57.59% of the company's stock.

Insider Activity at Similarweb

In other news, Director Barak Eilam purchased 50,000 shares of the business's stock in a transaction dated Thursday, May 21st. The shares were bought at an average cost of $3.86 per share, for a total transaction of $193,000.00. Following the completion of the acquisition, the director directly owned 101,315 shares in the company, valued at approximately $391,075.90. This trade represents a 97.44% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Tamar Rapaport-Dagim acquired 40,000 shares of the business's stock in a transaction dated Monday, May 18th. The stock was acquired at an average cost of $3.22 per share, for a total transaction of $128,800.00. Following the transaction, the director owned 63,584 shares of the company's stock, valued at $204,740.48. This represents a 169.61% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have bought 271,105 shares of company stock valued at $1,020,726.

Wall Street Analyst Weigh In

Several brokerages have commented on SMWB. Barclays dropped their price target on Similarweb from $7.00 to $5.00 and set an "overweight" rating on the stock in a research report on Monday, April 20th. Citigroup increased their price target on shares of Similarweb from $3.00 to $7.00 and gave the stock a "neutral" rating in a research report on Thursday, July 9th. Finally, Oppenheimer lifted their price objective on Similarweb from $7.00 to $8.50 and gave the company an "outperform" rating in a report on Wednesday, August 5th. Three research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $8.29.

Similarweb Stock Down 3.5%

Shares of SMWB stock opened at $7.16 on Wednesday. Similarweb Ltd. has a 12 month low of $2.22 and a 12 month high of $10.75. The stock has a 50-day moving average price of $6.06 and a 200 day moving average price of $4.29. The firm has a market cap of $627.13 million, a price-to-earnings ratio of -20.45 and a beta of 1.14.

Similarweb (NYSE:SMWB - Get Free Report) last announced its quarterly earnings data on Wednesday, May 13th. The company reported $0.01 EPS for the quarter, hitting analysts' consensus estimates of $0.01. Similarweb had a negative return on equity of 48.57% and a negative net margin of 10.38%.The business had revenue of $73.88 million during the quarter, compared to analysts' expectations of $73.04 million. Sell-side analysts predict that Similarweb Ltd. will post -0.08 earnings per share for the current fiscal year.

About Similarweb

Similarweb Ltd. NYSE: SMWB is a digital intelligence company that provides insights into website and mobile app performance. Its cloud-based platform aggregates and analyzes data on global web traffic, user engagement, and referral sources, enabling businesses to benchmark their digital presence against competitors. The company’s core offering includes metrics on audience behavior, traffic acquisition channels, and industry trends, which are designed to inform strategic decisions in marketing, sales, and product development.

Similarweb’s platform delivers a suite of tools for market research, competitor analysis, and performance optimization.

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