Trexquant Investment LP increased its position in shares of Similarweb Ltd. (NYSE:SMWB - Free Report) by 104.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 213,683 shares of the company's stock after purchasing an additional 109,208 shares during the quarter. Trexquant Investment LP owned approximately 0.26% of Similarweb worth $1,767,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in SMWB. Migdal Insurance & Financial Holdings Ltd. raised its position in Similarweb by 61.3% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,762,557 shares of the company's stock worth $22,846,000 after acquiring an additional 1,050,000 shares during the period. Wellington Management Group LLP bought a new stake in Similarweb during the 1st quarter worth approximately $7,355,000. T. Rowe Price Investment Management Inc. increased its holdings in Similarweb by 109.1% during 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 acquiring an additional 736,004 shares during the period. American Century Companies Inc. bought a new stake in Similarweb during the 1st quarter worth approximately $6,015,000. Finally, Nuveen LLC purchased a new position in Similarweb in the 1st quarter worth approximately $5,979,000. Institutional investors own 57.59% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms have commented on SMWB. Barclays reissued an "overweight" rating on shares of Similarweb in a research note on Wednesday, August 13th. Citigroup dropped their price target on shares of Similarweb from $13.00 to $11.00 and set a "buy" rating for the company in a research report on Friday, August 1st. Oppenheimer increased their price target on shares of Similarweb from $13.00 to $14.00 and gave the company an "outperform" rating in a research report on Monday, August 18th. Finally, Zacks Research upgraded shares of Similarweb from a "strong sell" rating to a "hold" rating in a report on Thursday, August 14th. Nine investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $14.88.
Read Our Latest Stock Report on Similarweb
Similarweb Price Performance
SMWB stock traded down $0.02 during trading on Wednesday, hitting $9.89. 315,120 shares of the stock traded hands, compared to its average volume of 610,622. Similarweb Ltd. has a 1 year low of $6.36 and a 1 year high of $17.64. The firm's 50 day moving average is $8.78 and its two-hundred day moving average is $8.22. The stock has a market cap of $838.94 million, a price-to-earnings ratio of -28.24 and a beta of 1.13.
Similarweb Company Profile
(
Free Report)
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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