VIRGINIA RETIREMENT SYSTEMS ET Al Invests $456,000 in Semrush Holdings, Inc. $SEMR

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Semrush Holdings, Inc. (NASDAQ:SEMR - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 50,400 shares of the company's stock, valued at approximately $456,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SEMR. Wealth Enhancement Advisory Services LLC bought a new position in Semrush during the first quarter valued at approximately $214,000. Teacher Retirement System of Texas raised its position in Semrush by 20.3% during the first quarter. Teacher Retirement System of Texas now owns 31,825 shares of the company's stock valued at $297,000 after acquiring an additional 5,381 shares in the last quarter. Ceera Investments LLC raised its position in Semrush by 48.5% during the first quarter. Ceera Investments LLC now owns 243,605 shares of the company's stock valued at $2,273,000 after acquiring an additional 79,510 shares in the last quarter. VELA Investment Management LLC raised its position in Semrush by 115.0% during the first quarter. VELA Investment Management LLC now owns 156,772 shares of the company's stock valued at $1,463,000 after acquiring an additional 83,858 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its position in Semrush by 19.5% during the first quarter. Envestnet Asset Management Inc. now owns 61,218 shares of the company's stock valued at $571,000 after acquiring an additional 10,002 shares in the last quarter. Institutional investors own 32.86% of the company's stock.

Wall Street Analysts Forecast Growth

SEMR has been the topic of several recent research reports. Morgan Stanley set a $9.00 price objective on shares of Semrush and gave the company an "equal weight" rating in a research report on Tuesday, August 5th. KeyCorp set a $12.00 price objective on shares of Semrush and gave the company an "overweight" rating in a research report on Tuesday, August 5th. Needham & Company LLC lowered their price target on Semrush from $18.00 to $12.00 and set a "buy" rating on the stock in a report on Tuesday, August 5th. Finally, The Goldman Sachs Group lowered their price target on Semrush from $12.00 to $9.00 and set a "neutral" rating on the stock in a report on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Semrush has a consensus rating of "Moderate Buy" and an average target price of $13.50.

Semrush Stock Up 0.3%

Shares of SEMR stock opened at $7.68 on Friday. The business's 50 day moving average is $7.51 and its two-hundred day moving average is $8.72. The company has a market cap of $1.14 billion, a PE ratio of 95.95 and a beta of 1.60. Semrush Holdings, Inc. has a 12 month low of $6.91 and a 12 month high of $18.74.

Insider Activity

In other news, CMO Andrew Warden sold 7,000 shares of the firm's stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $7.77, for a total value of $54,390.00. Following the sale, the chief marketing officer owned 366,917 shares in the company, valued at approximately $2,850,945.09. This trade represents a 1.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 55.61% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.