Insider Selling: Similarweb (NYSE:SMWB) CEO Sells 28,400 Shares

Key Points

• Similarweb CEO Or Offer sold 28,400 shares at an average price of $8.54, generating $242,536; the transaction was conducted under a pre-arranged Rule 10b5-1 plan. Offer retained 4,044,781 shares.
• The sale continues a series of insider disposals: Offer sold more than 460,000 additional shares between September 9 and 22, with total proceeds exceeding $3.5 million.
• SMWB shares opened at $8.57, up 0.9%, while analysts maintained a mixed outlook. The stock has a consensus “Hold” rating and an average price target of $9.71.

Similarweb Ltd. (NYSE:SMWB - Get Free Report) CEO Or Offer sold 28,400 shares of Similarweb stock in a transaction that occurred on Wednesday, September 23rd. The stock was sold at an average price of $8.54, for a total transaction of $242,536.00. Following the completion of the transaction, the chief executive officer owned 4,044,781 shares of the company's stock, valued at $34,542,429.74. This represents a 0.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Or Offer also recently made the following trade(s):

• On Tuesday, September 22nd, Or Offer sold 34,500 shares of Similarweb stock. The stock was sold at an average price of $8.38, for a total value of $289,110.00.
• On Monday, September 21st, Or Offer sold 32,200 shares of Similarweb stock. The stock was sold at an average price of $8.40, for a total value of $270,480.00.
• On Friday, September 18th, Or Offer sold 37,500 shares of Similarweb stock. The shares were sold at an average price of $8.25, for a total transaction of $309,375.00.
• On Thursday, September 17th, Or Offer sold 30,400 shares of Similarweb stock. The stock was sold at an average price of $8.35, for a total value of $253,840.00.
• On Wednesday, September 16th, Or Offer sold 45,719 shares of Similarweb stock. The stock was sold at an average price of $8.40, for a total transaction of $384,039.60.
• On Monday, September 14th, Or Offer sold 52,900 shares of Similarweb stock. The stock was sold at an average price of $8.54, for a total value of $451,766.00.
• On Tuesday, September 15th, Or Offer sold 26,691 shares of Similarweb stock. The stock was sold at an average price of $8.53, for a total transaction of $227,674.23.
• On Friday, September 11th, Or Offer sold 59,000 shares of Similarweb stock. The shares were sold at an average price of $8.05, for a total transaction of $474,950.00.
• On Thursday, September 10th, Or Offer sold 59,200 shares of Similarweb stock. The shares were sold at an average price of $8.06, for a total transaction of $477,152.00.
• On Wednesday, September 9th, Or Offer sold 86,300 shares of Similarweb stock. The shares were sold at an average price of $8.06, for a total transaction of $695,578.00.

Similarweb Stock Up 0.9%

SMWB stock opened at $8.57 on Thursday. Similarweb Ltd. has a 12-month low of $2.22 and a 12-month high of $9.82. The business has a 50 day moving average of $8.00 and a 200-day moving average of $5.29. The firm has a market cap of $751.09 million, a PE ratio of -34.30 and a beta of 1.21.

Similarweb (NYSE:SMWB - Get Free Report) last announced its quarterly earnings results on Wednesday, August 12th. The company reported $0.06 EPS for the quarter. Similarweb had a negative return on equity of 19.81% and a negative net margin of 7.37%.The company had revenue of $77.19 million during the quarter.

Hedge Funds Weigh In On Similarweb

Several hedge funds have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC bought a new position in shares of Similarweb during the 2nd quarter worth $92,000. Wellington Management Group LLP grew its position in Similarweb by 22.2% in the second quarter. Wellington Management Group LLP now owns 3,624,685 shares of the company's stock worth $22,219,000 after acquiring an additional 657,928 shares in the last quarter. Militia Capital Management LLC bought a new position in Similarweb in the first quarter valued at approximately $616,000. Lavelle Capital LP bought a new stake in Similarweb in the 1st quarter valued at $529,000. Finally, Bank of America Corp DE grew its stake in shares of Similarweb by 475.3% in the first quarter. Bank of America Corp DE now owns 63,985 shares of the company's stock worth $167,000 after purchasing an additional 52,863 shares during the last quarter. 57.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Wall Street Zen downgraded shares of Similarweb from a "strong-buy" rating to a "buy" rating in a research note on Saturday, September 12th. Northland Securities raised Similarweb from a "market perform" rating to an "outperform" rating and boosted their target price for the company from $5.00 to $10.00 in a research note on Wednesday, August 12th. Needham & Company LLC raised shares of Similarweb from a "hold" rating to a "buy" rating and set a $11.00 price target for the company in a research note on Wednesday, September 16th. Weiss Ratings restated a "sell (e+)" rating on shares of Similarweb in a report on Wednesday, August 12th. Finally, Citigroup raised their price objective on shares of Similarweb from $7.00 to $9.00 and gave the stock a "neutral" rating in a research note on Thursday, August 13th. Five equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Similarweb presently has an average rating of "Hold" and a consensus price target of $9.71.

Similarweb Company Profile

Similarweb Ltd. is a digital intelligence company that provides data and analytics about online activity. Its platform helps organizations analyze website and mobile application performance, understand audience behavior, evaluate competitors, and identify trends across digital markets.

The company's products support a range of business functions, including marketing, sales, market research, search engine optimization, investor research and business development. Similarweb combines data from multiple sources to provide insights into web traffic, mobile app usage, customer engagement, acquisition channels and industry positioning.

Founded in 2007, Similarweb serves businesses, agencies, financial institutions and other organizations in markets around the world.

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