Y.D. More Investments Ltd Sells 49,771 Shares of 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 reduced its holdings in shares of Similarweb Ltd. (NYSE:SMWB - Free Report) by 3.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,399,863 shares of the company's stock after selling 49,771 shares during the period. Similarweb accounts for about 1.0% of Y.D. More Investments Ltd's investment portfolio, making the stock its 23rd largest holding. Y.D. More Investments Ltd owned about 1.69% of Similarweb worth $11,577,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Similarweb in the fourth quarter valued at $22,536,000. Migdal Insurance & Financial Holdings Ltd. grew its stake in Similarweb by 61.3% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,762,557 shares of the company's stock valued at $22,846,000 after acquiring an additional 1,050,000 shares during the period. T. Rowe Price Investment Management Inc. acquired a new stake in Similarweb during the 4th quarter worth $9,563,000. CenterBook Partners LP raised its holdings in Similarweb by 307.2% in the 1st quarter. CenterBook Partners LP now owns 807,696 shares of the company's stock valued at $6,680,000 after buying an additional 609,365 shares during the period. Finally, Next Century Growth Investors LLC raised its holdings in Similarweb by 146.7% in the 4th quarter. Next Century Growth Investors LLC now owns 699,128 shares of the company's stock valued at $9,907,000 after buying an additional 415,792 shares during the period. 57.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on SMWB. The Goldman Sachs Group lowered their price target on Similarweb from $13.00 to $10.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Citigroup dropped their price target on Similarweb from $13.00 to $11.00 and set a "buy" rating for the company in a research report on Friday, August 1st. Finally, Barclays dropped their price objective on Similarweb from $15.00 to $10.00 and set an "overweight" rating for the company in a research report on Thursday, May 15th. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $15.00.

Similarweb Price Performance

Similarweb stock traded down $0.18 during mid-day trading on Monday, hitting $6.99. The company's stock had a trading volume of 271,849 shares, compared to its average volume of 606,336. The firm's 50 day moving average is $8.12 and its 200 day moving average is $8.97. The company has a market cap of $592.80 million, a PE ratio of -31.75 and a beta of 1.11. Similarweb Ltd. has a 52-week low of $6.36 and a 52-week high of $17.64.

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

About Similarweb

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.