Wellington Management Group LLP Acquires 286,674 Shares of Semrush Holdings, Inc. $SEMR

Key Points

• Wellington Management Group LLP increased its holdings in Semrush Holdings, Inc. by 18.7% during the first quarter, now owning approximately $16.97 million worth of shares.
• Analysts have set a consensus price target of $14.00 for Semrush, with ratings varying from "Strong Buy" to "Hold" based on recent reports.
• Insider trading data indicates that company executives have recently sold shares in Semrush, with total sales amounting to approximately $546,254 in the past three months.

Wellington Management Group LLP lifted its stake in shares of Semrush Holdings, Inc. (NASDAQ:SEMR - Free Report) by 18.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,819,030 shares of the company's stock after acquiring an additional 286,674 shares during the quarter. Wellington Management Group LLP owned approximately 1.24% of Semrush worth $16,972,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in SEMR. Comerica Bank boosted its stake in Semrush by 14.6% in the 4th quarter. Comerica Bank now owns 6,304 shares of the company's stock worth $75,000 after purchasing an additional 801 shares during the period. D. E. Shaw & Co. Inc. boosted its stake in Semrush by 3.4% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 25,128 shares of the company's stock worth $299,000 after purchasing an additional 830 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Semrush by 4.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,772 shares of the company's stock worth $247,000 after purchasing an additional 912 shares during the period. Arizona State Retirement System boosted its stake in Semrush by 15.6% in the 1st quarter. Arizona State Retirement System now owns 12,411 shares of the company's stock worth $116,000 after purchasing an additional 1,671 shares during the period. Finally, Aigen Investment Management LP boosted its stake in Semrush by 15.7% in the 1st quarter. Aigen Investment Management LP now owns 13,007 shares of the company's stock worth $121,000 after purchasing an additional 1,767 shares during the period. 32.86% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on SEMR shares. The Goldman Sachs Group dropped their price target on Semrush from $12.00 to $9.00 and set a "neutral" rating for the company in a research note on Wednesday, August 6th. Needham & Company LLC dropped their price target on Semrush from $18.00 to $12.00 and set a "buy" rating for the company in a research note on Tuesday, August 5th. KeyCorp set a $12.00 price target on Semrush and gave the stock an "overweight" rating in a research note on Tuesday, August 5th. Finally, Morgan Stanley set a $9.00 target price on Semrush and gave the company an "equal weight" rating in a research report on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $14.00.

Insider Buying and Selling

In related news, CFO Brian Mulroy sold 20,000 shares of the firm's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $10.43, for a total value of $208,600.00. Following the completion of the sale, the chief financial officer directly owned 907,385 shares in the company, valued at $9,464,025.55. This trade represents a 2.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 value of $75,225.00. Following the completion of the sale, the insider owned 261,702 shares of the company's stock, valued at approximately $2,624,871.06. This represents a 2.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 60,906 shares of company stock valued at $600,644 over the last 90 days. 55.61% of the stock is currently owned by insiders.

Semrush Trading Up 0.2%

Shares of SEMR stock traded up $0.02 on Friday, reaching $7.90. The company's stock had a trading volume of 1,054,005 shares, compared to its average volume of 868,170. The stock's fifty day simple moving average is $8.55 and its 200-day simple moving average is $9.91. Semrush Holdings, Inc. has a 1 year low of $7.01 and a 1 year high of $18.74. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of 98.70 and a beta of 1.65.

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.