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

VELA Investment Management LLC lifted its stake in Semrush Holdings, Inc. (NASDAQ:SEMR - Free Report) by 115.0% in the 1st quarter, according to the company in its most recent 13F 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 quarter. VELA Investment Management LLC owned 0.11% of Semrush worth $1,463,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Semrush by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 5,177,228 shares of the company's stock worth $61,505,000 after buying an additional 113,222 shares in the last quarter. Dorsey Asset Management LLC lifted its position in Semrush by 6.8% in the 4th quarter. Dorsey Asset Management LLC now owns 2,258,481 shares of the company's stock valued at $26,831,000 after acquiring an additional 144,534 shares in the last quarter. Millennium Management LLC boosted its stake in Semrush by 153.8% during the 4th quarter. Millennium Management LLC now owns 1,246,109 shares of the company's stock valued at $14,804,000 after purchasing an additional 755,220 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Semrush by 122.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 984,544 shares of the company's stock worth $11,696,000 after purchasing an additional 541,899 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Semrush by 17.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 822,246 shares of the company's stock valued at $9,768,000 after purchasing an additional 123,709 shares in the last quarter. Institutional investors own 32.86% of the company's stock.

Semrush Stock Performance

NASDAQ SEMR opened at $9.20 on Friday. The business's fifty day moving average is $9.83 and its 200 day moving average is $11.58. The company has a market capitalization of $1.36 billion, a PE ratio of 115.01 and a beta of 1.65. Semrush Holdings, Inc. has a fifty-two week low of $7.90 and a fifty-two week high of $18.74.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other Semrush news, CTO Oleg Shchegolev sold 2,500,000 shares of the business's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $10.01, for a total value of $25,025,000.00. Following the sale, the chief technology officer owned 26,739,320 shares in the company, valued at $267,660,593.20. The trade was a 8.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Andrew Warden sold 7,344 shares of Semrush stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $10.81, for a total value of $79,388.64. Following the completion of the sale, the chief marketing officer directly owned 393,655 shares in the company, valued at $4,255,410.55. This trade represents a 1.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,565,457 shares of company stock valued at $25,686,865. Insiders own 55.61% of the company's stock.

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.

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