VELA Investment Management LLC Increases Position in Semrush Holdings, Inc. (NASDAQ:SEMR)

VELA Investment Management LLC grew its stake in Semrush Holdings, Inc. (NASDAQ:SEMR - Free Report) by 115.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 156,772 shares of the company's stock after purchasing an additional 83,858 shares during the period. VELA Investment Management LLC owned approximately 0.11% of Semrush worth $1,463,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of SEMR. US Bancorp DE lifted its stake in shares of Semrush by 2,127.2% in the 4th quarter. US Bancorp DE now owns 3,608 shares of the company's stock valued at $43,000 after purchasing an additional 3,446 shares during the last quarter. Quarry LP lifted its stake in shares of Semrush by 504.8% in the 4th quarter. Quarry LP now owns 4,300 shares of the company's stock valued at $51,000 after purchasing an additional 3,589 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of Semrush in the 4th quarter valued at approximately $71,000. Comerica Bank lifted its stake in shares of Semrush by 14.6% in the 4th quarter. Comerica Bank now owns 6,304 shares of the company's stock valued at $75,000 after purchasing an additional 801 shares during the last quarter. Finally, Aquatic Capital Management LLC bought a new stake in shares of Semrush in the 4th quarter valued at approximately $86,000. 32.86% of the stock is owned by institutional investors.

Insider Activity at Semrush

In other Semrush news, insider David W. Mason sold 7,500 shares of the firm's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $10.03, for a total transaction of $75,225.00. Following the transaction, the insider directly owned 261,702 shares in the company, valued at $2,624,871.06. This trade represents a 2.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Anna Baird sold 20,000 shares of Semrush stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $10.00, for a total value of $200,000.00. Following the completion of the transaction, the director 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. Insiders sold a total of 2,565,457 shares of company stock worth $25,686,865 over the last three months. Corporate insiders own 55.61% of the company's stock.

Wall Street Analyst Weigh In

SEMR has been the subject of several analyst reports. Morgan Stanley lowered their price objective on Semrush from $19.00 to $13.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. The Goldman Sachs Group lowered their price objective on Semrush from $14.00 to $12.00 and set a "neutral" rating for the company in a research note on Friday, March 28th. Finally, KeyCorp reduced their price target on Semrush from $18.00 to $16.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Semrush has a consensus rating of "Buy" and a consensus price target of $16.43.

Semrush Stock Performance

SEMR traded down $0.03 during trading on Tuesday, hitting $9.01. 1,125,420 shares of the stock were exchanged, compared to its average volume of 587,116. The firm has a 50 day simple moving average of $9.78 and a 200 day simple moving average of $11.53. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of 112.64 and a beta of 1.65. Semrush Holdings, Inc. has a 1 year low of $7.90 and a 1 year high of $18.74.

About Semrush

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.