Similarweb Ltd. $SMWB Shares Sold by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. reduced its holdings in Similarweb Ltd. (NYSE:SMWB) by 72.9% during the 1st quarter, owning 20,899 shares after selling 56,227 shares.
• Public Employees Retirement System of Ohio and Teacher Retirement System of Texas significantly increased their stakes in Similarweb, with increases of 25.3% and 70.1%, respectively.
• Analysts have mixed opinions on Similarweb, with a consensus rating of "Moderate Buy" and an average target price of $14.88, despite some target price adjustments from major firms.

Goldman Sachs Group Inc. reduced its holdings in Similarweb Ltd. (NYSE:SMWB - Free Report) by 72.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,899 shares of the company's stock after selling 56,227 shares during the period. Goldman Sachs Group Inc.'s holdings in Similarweb were worth $173,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Public Employees Retirement System of Ohio boosted 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 buying an additional 2,000 shares during the last quarter. Fullcircle Wealth LLC acquired a new stake in Similarweb in the 1st quarter worth about $117,000. Teacher Retirement System of Texas boosted its holdings in Similarweb by 70.1% in 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 last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted 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 during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Similarweb in the 1st quarter worth about $258,000. 57.59% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on SMWB shares. Citigroup lowered 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 upgraded Similarweb from a "strong sell" rating to a "hold" rating in a report on Thursday, August 14th. Barclays restated an "overweight" rating on shares of Similarweb in a report on Wednesday, August 13th. Finally, Oppenheimer boosted 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. Nine analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $14.88.

Similarweb Stock Up 0.9%

Shares of NYSE SMWB opened at $9.63 on Tuesday. The firm has a market cap of $816.87 million, a price-to-earnings ratio of -27.50 and a beta of 1.13. Similarweb Ltd. has a 52-week low of $6.36 and a 52-week high of $17.64. The business's 50 day moving average is $9.09 and its two-hundred day moving average is $8.26.

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.

Want to see what other hedge funds are holding SMWB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Similarweb Ltd. (NYSE:SMWB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.