Similarweb (NYSE:SMWB) CEO Sells $270,480.00 in Stock

Key Points

• CEO Or Offer sold 32,200 Similarweb shares at an average price of $8.40, generating $270,480. The transaction was made under a pre-arranged Rule 10b5-1 plan, and he retained 4.11 million shares.
• Offer has conducted several additional sales recently, including a sale of 383,127 shares for $3.45 million on August 26, indicating substantial cumulative insider selling.
• Similarweb shares opened at $8.47, up 2.9%, while analyst sentiment remained mixed: the stock carries a consensus “Hold” rating and an average price target of $9.71.

Similarweb Ltd. (NYSE:SMWB - Get Free Report) CEO Or Offer sold 32,200 shares of the company's stock in a transaction on Monday, September 21st. The shares were sold at an average price of $8.40, for a total transaction of $270,480.00. Following the completion of the transaction, the chief executive officer owned 4,107,681 shares of the company's stock, valued at $34,504,520.40. This trade represents a 0.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible 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 18th, Or Offer sold 37,500 shares of Similarweb stock. The stock was 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 shares were sold at an average price of $8.35, for a total transaction 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 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 shares were 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 stock was 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 shares were 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 value of $3,448,143.00.

Similarweb Trading Up 2.9%

Shares of NYSE SMWB opened at $8.47 on Tuesday. The company has a market capitalization of $741.97 million, a price-to-earnings ratio of -33.88 and a beta of 1.21. The business has a 50 day simple moving average of $7.94 and a 200-day simple moving average of $5.21. Similarweb Ltd. has a twelve month low of $2.22 and a twelve month high of $9.87.

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

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SMWB. Wall Street Zen cut Similarweb from a "strong-buy" rating to a "buy" rating in a research report on Saturday, September 12th. Barclays boosted their price target on Similarweb from $5.00 to $11.00 and gave the stock an "overweight" rating in a research report on Thursday, August 13th. Weiss Ratings reissued a "sell (e+)" rating on shares of Similarweb in a report on Wednesday, August 12th. Oppenheimer upped their price objective on shares of Similarweb from $7.00 to $8.50 and gave the stock an "outperform" rating in a report on Wednesday, August 5th. Finally, Needham & Company LLC upgraded shares of Similarweb from a "hold" rating to a "buy" rating and set a $11.00 price target on the stock in a research report on Wednesday, September 16th. Five research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Similarweb currently has a consensus rating of "Hold" and an average target price of $9.71.

Institutional Trading of Similarweb

Hedge funds and other institutional investors have recently made changes to their positions in the business. Integrated Wealth Concepts LLC acquired a new position in shares of Similarweb during the 2nd quarter worth about $92,000. Royce & Associates LP raised its holdings in Similarweb by 8.7% during the fourth quarter. Royce & Associates LP now owns 537,406 shares of the company's stock worth $4,025,000 after acquiring an additional 43,078 shares in the last quarter. Bank of America Corp DE boosted its position in Similarweb by 475.3% during the first quarter. Bank of America Corp DE now owns 63,985 shares of the company's stock valued at $167,000 after purchasing an additional 52,863 shares during the last quarter. S Squared Technology LLC grew its stake 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. Finally, Persistent Asset Partners Ltd bought a new stake in shares of Similarweb during the 4th quarter worth approximately $1,348,000. 57.59% of the stock is currently owned by institutional investors.

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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