Y.D. More Investments Ltd Trims Stake in Similarweb Ltd. (NYSE:SMWB)

Key Points

• Y.D. More Investments Ltd has reduced its stake in Similarweb Ltd. by 3.4%, now owning 1,399,863 shares valued at around $11.6 million, making it the 23rd biggest holding in their portfolio.
• Several institutional investors have also adjusted their positions in Similarweb, with notable increases from Public Employees Retirement System of Ohio and Teacher Retirement System of Texas, significantly boosting their holdings during the last quarter.
• Analyst ratings for Similarweb are mostly positive, with a consensus rating of "Buy" and an average target price of $14.38, although some firms have lowered their price targets recently.

Y.D. More Investments Ltd lowered its stake in Similarweb Ltd. (NYSE:SMWB - Free Report) by 3.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,399,863 shares of the company's stock after selling 49,771 shares during the quarter. Similarweb comprises 1.0% of Y.D. More Investments Ltd's portfolio, making the stock its 23rd biggest holding. Y.D. More Investments Ltd owned 1.69% of Similarweb worth $11,577,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in SMWB. KLP Kapitalforvaltning AS purchased a new position in Similarweb during the fourth quarter valued at $115,000. Heck Capital Advisors LLC bought a new position in shares of Similarweb during the 4th quarter valued at about $115,000. Fullcircle Wealth LLC purchased a new position in shares of Similarweb during the first quarter valued at about $117,000. Public Employees Retirement System of Ohio grew its position in shares of Similarweb by 25.3% during the fourth quarter. Public Employees Retirement System of Ohio now owns 9,900 shares of the company's stock valued at $140,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its holdings in shares of Similarweb by 70.1% in the first quarter. Teacher Retirement System of Texas now owns 18,362 shares of the company's stock worth $152,000 after purchasing an additional 7,566 shares during the last quarter. Hedge funds and other institutional investors own 57.59% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on SMWB. Citigroup cut their price target on Similarweb from $13.00 to $11.00 and set a "buy" rating for the company in a report on Friday, August 1st. The Goldman Sachs Group cut their target price on shares of Similarweb from $13.00 to $10.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Finally, Barclays decreased their price target on shares of Similarweb from $15.00 to $10.00 and set an "overweight" rating on the stock in a research note on Thursday, May 15th. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $14.38.

Similarweb Stock Up 2.4%

NYSE SMWB opened at $7.54 on Thursday. Similarweb Ltd. has a 52 week low of $6.36 and a 52 week high of $17.64. The firm has a market capitalization of $640.26 million, a price-to-earnings ratio of -34.29 and a beta of 1.11. The company has a fifty day moving average of $8.12 and a two-hundred day moving average of $9.18.

Similarweb (NYSE:SMWB - Get Free Report) last released its quarterly earnings results on Tuesday, May 13th. The company reported ($0.11) EPS for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.09). The firm had revenue of $67.09 million for the quarter, compared to analysts' expectations of $66.37 million. Similarweb had a negative return on equity of 71.14% and a negative net margin of 6.97%. Equities research analysts anticipate that Similarweb Ltd. will post -0.24 EPS for the current year.

Similarweb Profile

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.

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.