Insider Selling: Similarweb (NYSE:SMWB) CEO Sells 52,900 Shares of Stock

Key Points

• CEO Or Offer sold 52,900 Similarweb shares at an average price of $8.54, generating $451,766 under a pre-arranged Rule 10b5-1 trading plan. He retained 4.28 million shares, while several additional sales in August and September indicate substantial recent insider selling.
• Similarweb shares opened at $8.47, with a 52-week range of $2.22 to $10.19 and a market capitalization of approximately $742 million. The company reported quarterly revenue of $77.19 million and earnings of $0.06 per share, but continued to post a negative net margin.
• Analyst sentiment is mixed but improving: five analysts rate SMWB a Buy, four Hold, and one Sell, producing a consensus “Hold” rating and average price target of $9.71. Institutional investors own 57.59% of the stock, with several major funds recently increasing their positions.

Similarweb Ltd. (NYSE:SMWB - Get Free Report) CEO Or Offer sold 52,900 shares of the business's stock in a transaction on Monday, September 14th. The stock was sold at an average price of $8.54, for a total value of $451,766.00. Following the transaction, the chief executive officer directly owned 4,280,191 shares in the company, valued at $36,552,831.14. This trade represents a 1.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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 15th, Or Offer sold 26,691 shares of Similarweb stock. The shares were 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 stock was 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.
• On Tuesday, September 8th, Or Offer sold 60,700 shares of Similarweb stock. The stock was sold at an average price of $8.33, for a total value of $505,631.00.
• On Wednesday, August 26th, Or Offer sold 383,127 shares of Similarweb stock. The stock was sold at an average price of $9.00, for a total value of $3,448,143.00.
• On Thursday, August 13th, Or Offer sold 574,605 shares of Similarweb stock. The stock was sold at an average price of $8.80, for a total transaction of $5,056,524.00.
• On Friday, August 14th, Or Offer sold 134,992 shares of Similarweb stock. The shares were sold at an average price of $8.87, for a total transaction of $1,197,379.04.

Similarweb Stock Performance

NYSE:SMWB opened at $8.47 on Wednesday. Similarweb Ltd. has a fifty-two week low of $2.22 and a fifty-two week high of $10.19. The company has a 50 day moving average price of $7.81 and a 200 day moving average price of $5.05. The stock has a market capitalization of $741.97 million, a P/E ratio of -33.88 and a beta of 1.21.

Similarweb (NYSE:SMWB - Get Free Report) last released 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 for the quarter.

Institutional Trading of Similarweb

A number of hedge funds and other institutional investors have recently bought and sold shares of SMWB. Wellington Management Group LLP boosted its position in shares of Similarweb by 22.2% during the 2nd 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. S Squared Technology LLC boosted its holdings in Similarweb by 12.9% in the fourth quarter. S Squared Technology LLC now owns 775,161 shares of the company's stock valued at $5,806,000 after purchasing an additional 88,489 shares in the last quarter. Royce & Associates LP increased its stake in Similarweb by 8.7% in the fourth quarter. Royce & Associates LP now owns 537,406 shares of the company's stock valued at $4,025,000 after purchasing an additional 43,078 shares during the last quarter. UBS Group AG lifted its position in shares of Similarweb by 71.4% during the 4th quarter. UBS Group AG now owns 536,549 shares of the company's stock worth $4,019,000 after buying an additional 223,562 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of Similarweb by 104.6% in the 1st quarter. Renaissance Technologies LLC now owns 739,673 shares of the company's stock valued at $1,931,000 after buying an additional 378,200 shares during the last quarter. 57.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SMWB has been the subject of a number of research reports. Northland Securities upgraded shares of Similarweb from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $5.00 to $10.00 in a report on Wednesday, August 12th. Oppenheimer boosted their price target on shares of Similarweb from $7.00 to $8.50 and gave the stock an "outperform" rating in a research note on Wednesday, August 5th. Barclays boosted their target price on Similarweb from $5.00 to $11.00 and gave the stock an "overweight" rating in a research note on Thursday, August 13th. Wall Street Zen cut Similarweb from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Finally, Needham & Company LLC raised Similarweb from a "hold" rating to a "buy" rating and set a $11.00 price objective for the company in a research report on Wednesday. Five equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $9.71.

About Similarweb

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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