Zevenbergen Capital Investments LLC Buys New Shares in Semrush Holdings, Inc. (NASDAQ:SEMR)

Key Points

• Zevenbergen Capital Investments LLC acquired 243,600 shares of Semrush Holdings, valued at approximately $2.27 million, representing 0.17% ownership at the end of the last quarter.
• Analysts have mixed forecasts for Semrush, with target prices ranging from $9.00 to $12.00, and a consensus rating of "Moderate Buy" based on multiple brokerages' reports.
• Insider trading activity includes significant sales, with Chief Technology Officer Oleg Shchegolev selling 2.5 million shares, and insiders overall having sold a total of 2.56 million shares in the last three months.

Zevenbergen Capital Investments LLC bought a new stake in Semrush Holdings, Inc. (NASDAQ:SEMR - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 243,600 shares of the company's stock, valued at approximately $2,273,000. Zevenbergen Capital Investments LLC owned 0.17% of Semrush at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Signaturefd LLC purchased a new position in Semrush in the first quarter valued at $42,000. Quarry LP boosted its holdings in Semrush by 504.8% in the fourth quarter. Quarry LP now owns 4,300 shares of the company's stock valued at $51,000 after purchasing an additional 3,589 shares during the period. KLP Kapitalforvaltning AS purchased a new position in Semrush in the fourth quarter valued at $71,000. Comerica Bank boosted its holdings in Semrush by 14.6% in the fourth quarter. Comerica Bank now owns 6,304 shares of the company's stock valued at $75,000 after purchasing an additional 801 shares during the period. Finally, Aquatic Capital Management LLC purchased a new position in Semrush in the fourth quarter valued at $86,000. 32.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SEMR. Morgan Stanley set a $9.00 price target on Semrush and gave the stock an "equal weight" rating in a report on Tuesday. The Goldman Sachs Group decreased their price target on Semrush from $12.00 to $9.00 and set a "neutral" rating for the company in a report on Wednesday. KeyCorp set a $12.00 price target on Semrush and gave the stock an "overweight" rating in a report on Tuesday, August 5th. Finally, Needham & Company LLC decreased their price target on Semrush from $18.00 to $12.00 and set a "buy" rating for the company in a report on Tuesday, August 5th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Semrush presently has a consensus rating of "Moderate Buy" and an average target price of $14.00.

Insider Transactions at Semrush

In related news, insider David W. Mason sold 7,500 shares of the business's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $10.03, for a total value of $75,225.00. Following the transaction, the insider owned 261,702 shares in the company, valued at $2,624,871.06. The trade was a 2.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CTO Oleg Shchegolev sold 2,500,000 shares of the business's stock in a transaction dated 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 completion of the transaction, the chief technology officer owned 26,739,320 shares in the company, valued at $267,660,593.20. This trade represents a 8.55% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,561,250 shares of company stock worth $25,650,643 over the last three months. 55.61% of the stock is currently owned by company insiders.

Semrush Stock Performance

SEMR opened at $7.11 on Friday. The business's 50-day simple moving average is $9.13 and its 200-day simple moving average is $10.87. Semrush Holdings, Inc. has a one year low of $7.08 and a one year high of $18.74. The stock has a market capitalization of $1.05 billion, a P/E ratio of 88.82 and a beta of 1.65.

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.

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