Similarweb (NYSE:SMWB) CEO Or Offer Sells 34,500 Shares

Key Points

• Similarweb CEO Or Offer sold 34,500 shares at an average price of $8.38, generating $289,110. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan, leaving him with 4.07 million shares.
• Offer has made a series of additional stock sales throughout September, including 28,400 shares on September 23 and 86,300 shares on September 9, indicating sustained insider selling activity.
• Similarweb shares opened at $8.57, with a market capitalization of about $751 million. Analysts’ average rating is “Hold,” with an average price target of $9.71, while institutional investors own 57.59% of the stock.

Similarweb Ltd. (NYSE:SMWB - Get Free Report) CEO Or Offer sold 34,500 shares of the business's stock in a transaction on Tuesday, September 22nd. The stock was sold at an average price of $8.38, for a total transaction of $289,110.00. Following the transaction, the chief executive officer owned 4,073,181 shares in the company, valued at approximately $34,133,256.78. The trade was a 0.84% decrease in their ownership of the stock. The sale 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 Wednesday, September 23rd, Or Offer sold 28,400 shares of Similarweb stock. The shares were sold at an average price of $8.54, for a total value of $242,536.00.
• On Monday, September 21st, Or Offer sold 32,200 shares of Similarweb stock. The shares were 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 value of $309,375.00.
• On Thursday, September 17th, Or Offer sold 30,400 shares of Similarweb stock. The shares were 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 shares were sold at an average price of $8.40, for a total value of $384,039.60.
• On Monday, September 14th, Or Offer sold 52,900 shares of Similarweb stock. The shares were sold at an average price of $8.54, for a total transaction 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 value 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 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 value of $695,578.00.

Similarweb Stock Performance

SMWB stock opened at $8.57 on Thursday. Similarweb Ltd. has a one year low of $2.22 and a one year high of $9.82. The company has a market capitalization of $751.09 million, a PE ratio of -34.30 and a beta of 1.21. The company's fifty day moving average price is $8.00 and its 200-day moving average price is $5.29.

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

Institutional Investors Weigh In On Similarweb

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP raised its position in shares of 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 buying an additional 657,928 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Similarweb by 104.6% in the first quarter. Renaissance Technologies LLC now owns 739,673 shares of the company's stock worth $1,931,000 after buying an additional 378,200 shares during the last quarter. Militia Capital Management LLC acquired a new position in Similarweb in the 1st quarter worth about $616,000. Lavelle Capital LP bought a new position in shares of Similarweb in the first quarter worth $529,000. Finally, Persistent Asset Partners Ltd bought a new position in shares of Similarweb in the 4th quarter worth about $1,348,000. 57.59% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on SMWB shares. Needham & Company LLC upgraded shares of Similarweb from a "hold" rating to a "buy" rating and set a $11.00 target price for the company in a research note on Wednesday, September 16th. Citigroup raised 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. Oppenheimer increased their target price 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. Weiss Ratings restated a "sell (e+)" rating on shares of Similarweb in a report on Wednesday, August 12th. Finally, Wall Street Zen downgraded Similarweb from a "strong-buy" rating to a "buy" rating in a research report on Saturday, September 12th. Five equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target 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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