Insider Selling: Semrush Holdings, Inc. (NASDAQ:SEMR) CTO Sells 2,500,000 Shares of Stock

Semrush Holdings, Inc. (NASDAQ:SEMR - Get Free Report) CTO Oleg Shchegolev sold 2,500,000 shares of the company's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $10.01, for a total transaction of $25,025,000.00. Following the completion of the transaction, the chief technology officer now owns 26,739,320 shares in the company, valued at $267,660,593.20. This represents a 8.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Oleg Shchegolev also recently made the following trade(s):

• On Wednesday, April 2nd, Oleg Shchegolev sold 9,563 shares of Semrush stock. The stock was sold at an average price of $9.44, for a total transaction of $90,274.72.
• On Monday, March 3rd, Oleg Shchegolev sold 32,932 shares of Semrush stock. The shares were sold at an average price of $11.19, for a total transaction of $368,509.08.

Semrush Stock Performance

NASDAQ:SEMR traded down $0.11 during mid-day trading on Monday, hitting $9.74. 695,926 shares of the company's stock traded hands, compared to its average volume of 553,188. The company has a fifty day moving average of $9.73 and a 200 day moving average of $12.33. Semrush Holdings, Inc. has a twelve month low of $7.90 and a twelve month high of $18.74. The company has a market capitalization of $1.44 billion, a P/E ratio of 121.70 and a beta of 1.79.

Hedge Funds Weigh In On Semrush

Hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC grew its position in Semrush by 329.4% during the 4th quarter. SG Americas Securities LLC now owns 56,089 shares of the company's stock worth $666,000 after purchasing an additional 43,027 shares during the last quarter. Stoneridge Investment Partners LLC purchased a new position in Semrush in the 4th quarter worth $135,000. Allspring Global Investments Holdings LLC acquired a new stake in Semrush during the 4th quarter worth about $6,869,000. Principal Financial Group Inc. grew its stake in Semrush by 10.6% during the 4th quarter. Principal Financial Group Inc. now owns 31,959 shares of the company's stock valued at $380,000 after purchasing an additional 3,059 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd increased its holdings in shares of Semrush by 166.7% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 103,221 shares of the company's stock valued at $1,226,000 after purchasing an additional 64,514 shares during the period. Institutional investors and hedge funds own 32.86% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Jefferies Financial Group lifted their price objective on shares of Semrush from $17.00 to $21.00 and gave the company a "buy" rating in a report on Monday, February 3rd. KeyCorp decreased their price objective on Semrush from $18.00 to $16.00 and set an "overweight" rating for the company in a research note on Thursday, May 8th. Morgan Stanley cut their target price on Semrush from $19.00 to $13.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Finally, The Goldman Sachs Group decreased their price target on shares of Semrush from $14.00 to $12.00 and set a "neutral" rating for the company in a research report on Friday, March 28th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $16.43.

About Semrush

Semrush Holdings, Inc develops an online visibility management software-as-a-service platform in the United States, the United Kingdom, and internationally. The company enables companies to identify and reach the right audience for their content through the right channels. Its platform enables the company's customers to understand trends and act upon insights to enhance the online visibility, and drive traffic to their websites and social media pages, as well as online listings, distribute targeted content to their customers, and measure the digital marketing campaigns.