Or Offer Sells 26,691 Shares of Similarweb (NYSE:SMWB) Stock

Key Points

• CEO Or Offer sold 26,691 Similarweb shares at an average price of $8.53, generating $227,674. The transaction was conducted under a pre-arranged Rule 10b5-1 plan, leaving Offer with 4.25 million shares.
• Offer has made several additional sales recently, including more than 1.3 million shares in August and 265,200 shares in September before this transaction.
• Analyst sentiment is mixed but improving: Similarweb has an average “Hold” rating and a consensus price target of $10.14, while institutional investors own 57.59% of the company.

Similarweb Ltd. (NYSE:SMWB - Get Free Report) CEO Or Offer sold 26,691 shares of the firm's stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $8.53, for a total value of $227,674.23. Following the completion of the sale, the chief executive officer directly owned 4,253,500 shares of the company's stock, valued at approximately $36,282,355. This represents a 0.62% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at 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 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 value 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 stock was 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 transaction of $505,631.00.
• On Wednesday, August 26th, Or Offer sold 383,127 shares of Similarweb stock. The shares were sold at an average price of $9.00, for a total transaction 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 stock was sold at an average price of $8.87, for a total transaction of $1,197,379.04.

Similarweb Price Performance

Shares of SMWB opened at $8.47 on Wednesday. The firm has a market capitalization of $741.97 million, a PE ratio of -33.88 and a beta of 1.21. Similarweb Ltd. has a 1-year low of $2.22 and a 1-year high of $10.19. The company's fifty day moving average price is $7.81 and its 200-day moving average price is $5.05.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Citigroup lifted their target price on Similarweb from $7.00 to $9.00 and gave the stock a "neutral" rating in a report on Thursday, August 13th. Needham & Company LLC upgraded shares of Similarweb from a "hold" rating to a "buy" rating in a report on Wednesday. Barclays lifted their price objective on shares of Similarweb from $5.00 to $11.00 and gave the company an "overweight" rating in a research note on Thursday, August 13th. Wall Street Zen cut shares of Similarweb from a "strong-buy" rating to a "buy" rating in a report on Saturday. Finally, Northland Securities upgraded shares of 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 report on Wednesday, August 12th. Five analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $10.14.

Hedge Funds Weigh In On Similarweb

Several institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP increased its position in Similarweb by 22.2% during the second quarter. Wellington Management Group LLP now owns 3,624,685 shares of the company's stock worth $22,219,000 after purchasing an additional 657,928 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Similarweb by 104.6% during 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 period. Militia Capital Management LLC purchased a new position in Similarweb in the first quarter worth approximately $616,000. UBS Group AG increased its stake in Similarweb by 71.4% during the fourth quarter. UBS Group AG now owns 536,549 shares of the company's stock worth $4,019,000 after acquiring an additional 223,562 shares during the last quarter. Finally, Lavelle Capital LP purchased a new stake in Similarweb in the first quarter valued at $529,000. 57.59% of the stock is owned by hedge funds and other institutional investors.

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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