Siren L.L.C. Increases Position in Semrush Holdings, Inc. $SEMR

Key Points

• Siren L.L.C. increased its stake in Semrush Holdings, Inc. by 257.1%, acquiring an additional 90,000 shares for a total of 125,000 shares valued at approximately $1.17 million.
• Brokerage analysts have set price targets for Semrush ranging from $9.00 to $12.00, with a consensus rating of "Moderate Buy" and an average target price of $14.00.
• Company insiders have sold significant shares recently, with notable sales by Directors and the CFO, indicating a decrease in their ownership but maintaining a strong insider ownership of 55.61%.

Siren L.L.C. boosted its position in Semrush Holdings, Inc. (NASDAQ:SEMR - Free Report) by 257.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 125,000 shares of the company's stock after buying an additional 90,000 shares during the quarter. Siren L.L.C. owned approximately 0.09% of Semrush worth $1,166,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Nuveen LLC purchased a new stake in Semrush during the first quarter valued at about $10,762,000. Millennium Management LLC boosted its stake in Semrush by 153.8% during the fourth quarter. Millennium Management LLC now owns 1,246,109 shares of the company's stock valued at $14,804,000 after buying an additional 755,220 shares during the period. First Trust Advisors LP purchased a new position in shares of Semrush during the fourth quarter worth about $3,715,000. Wellington Management Group LLP increased its holdings in shares of Semrush by 18.7% in the 1st quarter. Wellington Management Group LLP now owns 1,819,030 shares of the company's stock worth $16,972,000 after buying an additional 286,674 shares during the last quarter. Finally, Zevenbergen Capital Investments LLC purchased a new stake in Semrush during the first quarter valued at about $2,273,000. 32.86% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. The Goldman Sachs Group lowered their price objective on shares of Semrush from $12.00 to $9.00 and set a "neutral" rating for the company in a report on Wednesday, August 6th. Needham & Company LLC reduced their price objective on shares of Semrush from $18.00 to $12.00 and set a "buy" rating on the stock in a research report on Tuesday, August 5th. Morgan Stanley set a $9.00 price objective on Semrush and gave the company an "equal weight" rating in a research report on Tuesday, August 5th. Finally, KeyCorp set a $12.00 price objective on shares of Semrush and gave the company an "overweight" rating in a research note on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Semrush presently has an average rating of "Moderate Buy" and an average price target of $14.00.

Insider Activity at Semrush

In other news, CFO Brian Mulroy sold 20,000 shares of Semrush stock in a transaction on Friday, June 6th. The shares were sold at an average price of $10.43, for a total transaction of $208,600.00. Following the completion of the sale, the chief financial officer directly owned 907,385 shares in the company, valued at approximately $9,464,025.55. The trade was a 2.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Mark Vranesh sold 5,000 shares of the stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $10.00, for a total transaction of $50,000.00. Following the completion of the transaction, the director owned 116,693 shares in the company, valued at approximately $1,166,930. This trade represents a 4.11% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,406 shares of company stock worth $325,419. Company insiders own 55.61% of the company's stock.

Semrush Stock Down 2.8%

SEMR traded down $0.22 during trading on Tuesday, reaching $7.68. The company had a trading volume of 1,020,608 shares, compared to its average volume of 867,907. The stock has a market cap of $1.14 billion, a P/E ratio of 96.01 and a beta of 1.64. Semrush Holdings, Inc. has a 52 week low of $7.01 and a 52 week high of $18.74. The business has a 50 day simple moving average of $8.52 and a 200-day simple moving average of $9.73.

Semrush Company Profile

Semrush Holdings, Inc develops an online visibility management software-as-a-service platform in the United States, the United Kingdom, and internationally. The company enables companies to identify and reach the right audience for their content through the right channels. Its platform enables the company's customers to understand trends and act upon insights to enhance the online visibility, and drive traffic to their websites and social media pages, as well as online listings, distribute targeted content to their customers, and measure the digital marketing campaigns.