Topline Capital Management LLC Cuts Position in Semrush Holdings, Inc. $SEMR

Key Points

• Topline Capital Management LLC significantly reduced its stake in Semrush Holdings, Inc. by 87.3%, now holding approximately 0.07% of the company with an estimated value of $928,000.
• Several institutional investors have altered their positions in Semrush, with notable changes including a new purchase by Signaturefd LLC worth about $42,000 and a 504.8% increase in stake by Quarry LP.
• Analysts have issued varied ratings for Semrush, with an average target price of $14.00, and recent price objectives set as low as $9.00 by Goldman Sachs.

Topline Capital Management LLC lowered its position in shares of Semrush Holdings, Inc. (NASDAQ:SEMR - Free Report) by 87.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 99,426 shares of the company's stock after selling 680,658 shares during the quarter. Topline Capital Management LLC owned 0.07% of Semrush worth $928,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of SEMR. Nuveen LLC purchased a new position in Semrush during the 1st quarter worth $10,762,000. Millennium Management LLC raised its position in Semrush by 153.8% during the 4th quarter. Millennium Management LLC now owns 1,246,109 shares of the company's stock worth $14,804,000 after buying an additional 755,220 shares during the last quarter. First Trust Advisors LP purchased a new position in shares of Semrush in the 4th quarter valued at 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 valued at $16,972,000 after purchasing an additional 286,674 shares in the last quarter. Finally, Zevenbergen Capital Investments LLC purchased a new position in shares of Semrush in the 1st quarter valued at about $2,273,000. Hedge funds and other institutional investors own 32.86% of the company's stock.

Semrush Trading Up 0.2%

Shares of Semrush stock traded up $0.02 during mid-day trading on Friday, hitting $7.90. 1,054,005 shares of the stock were exchanged, compared to its average volume of 868,170. Semrush Holdings, Inc. has a twelve month low of $7.01 and a twelve month high of $18.74. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of 98.70 and a beta of 1.65. The company has a 50-day simple moving average of $8.55 and a 200 day simple moving average of $9.86.

Insiders Place Their Bets

In related news, CFO Brian Mulroy sold 20,000 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $10.43, for a total value of $208,600.00. Following the sale, the chief financial officer directly owned 907,385 shares of the company's stock, valued at approximately $9,464,025.55. This trade represents a 2.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Anna Baird sold 20,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $10.00, for a total transaction of $200,000.00. Following the completion of the sale, the director directly owned 26,556 shares in the company, valued at $265,560. This represents a 42.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 60,906 shares of company stock valued at $600,644. 55.61% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

SEMR has been the subject of a number of research analyst reports. The Goldman Sachs Group cut their price target 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. Morgan Stanley set a $9.00 price target on shares of Semrush and gave the company an "equal weight" rating in a report on Tuesday, August 5th. KeyCorp set a $12.00 price target on shares of Semrush and gave the company an "overweight" rating in a report on Tuesday, August 5th. Finally, Needham & Company LLC cut their price target on shares of Semrush from $18.00 to $12.00 and set a "buy" rating for the company in a report on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Semrush presently has a consensus rating of "Moderate Buy" and a consensus price target of $14.00.

Semrush 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.