Similarweb (NYSE:SMWB) CEO Or Offer Sells 59,200 Shares

Key Points

• CEO Or Offer sold 59,200 Similarweb shares at an average price of $8.06, generating $477,152. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan and reduced his ownership by 1.33%.
• Offer has made several additional sales recently, including more than 200,000 shares during the surrounding week and larger sales in August. He still owned 4.39 million shares valued at approximately $35.4 million after the transaction.
• Similarweb shares traded at $8.49, while analysts’ consensus price target stood at $10.14 with an overall “Hold” rating. The company reported $77.19 million in quarterly revenue and $0.06 in earnings per share.

Similarweb Ltd. (NYSE:SMWB - Get Free Report) CEO Or Offer sold 59,200 shares of the company's stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $8.06, for a total transaction of $477,152.00. Following the transaction, the chief executive officer owned 4,392,091 shares in the company, valued at $35,400,253.46. The trade was a 1.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available 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 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 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 transaction 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 shares were sold at an average price of $8.80, for a total value 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 value of $1,197,379.04.

Similarweb Price Performance

Shares of SMWB stock traded up $0.42 on Monday, reaching $8.49. 100,648 shares of the stock were exchanged, compared to its average volume of 885,768. The stock has a market cap of $743.99 million, a PE ratio of -33.94 and a beta of 1.21. Similarweb Ltd. has a one year low of $2.22 and a one year high of $10.26. The stock has a 50 day moving average price of $7.72 and a 200 day moving average price of $4.97.

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

Institutional Trading of Similarweb

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Larson Financial Group LLC acquired a new stake in Similarweb during the third quarter worth approximately $25,000. New York State Common Retirement Fund lifted its holdings in Similarweb by 0.4% during the 4th quarter. New York State Common Retirement Fund now owns 852,915 shares of the company's stock worth $6,388,000 after purchasing an additional 3,170 shares during the last quarter. PDT Partners LLC boosted its stake in Similarweb by 3.9% in the 2nd quarter. PDT Partners LLC now owns 98,388 shares of the company's stock valued at $771,000 after purchasing an additional 3,717 shares during the period. Lazard Asset Management LLC grew its holdings in Similarweb by 31.9% in the 3rd quarter. Lazard Asset Management LLC now owns 19,761 shares of the company's stock valued at $184,000 after buying an additional 4,777 shares in the last quarter. Finally, Legal & General Group Plc increased its position in Similarweb by 13.7% during the 3rd quarter. Legal & General Group Plc now owns 43,374 shares of the company's stock worth $403,000 after buying an additional 5,235 shares during the period. Institutional investors own 57.59% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on SMWB. Barclays boosted their price target on shares of Similarweb from $5.00 to $11.00 and gave the stock an "overweight" rating in a research note on Thursday, August 13th. Oppenheimer upped their target price on shares of Similarweb from $7.00 to $8.50 and gave the company an "outperform" rating in a research report on Wednesday, August 5th. Northland Securities raised Similarweb from a "market perform" rating to an "outperform" rating and increased their price target for the company from $5.00 to $10.00 in a research note on Wednesday, August 12th. Citigroup raised their price target on Similarweb from $7.00 to $9.00 and gave the stock a "neutral" rating in a research report on Thursday, August 13th. Finally, Wall Street Zen cut Similarweb from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $10.14.

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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