Semrush (NASDAQ:SEMR) Director Sells $10,067.20 in Stock

Key Points

• Dmitry Melnikov, a director at Semrush, sold 1,408 shares of the company for a total of $10,067.20, reducing his ownership by 0.11% and maintaining approximately 1.28 million shares valued at around $9.17 million.
• Analysts have recently lowered target prices on Semrush, with a consensus target price now set at $13.50 and ratings varying from Strong Buy to Hold.
• Semrush's stock price has seen a fluctuation, currently trading at $7.26, down from its 12-month high of $18.74, indicating a challenging period in the market.

Semrush Holdings, Inc. (NASDAQ:SEMR - Get Free Report) Director Dmitry Melnikov sold 1,408 shares of the company's stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $7.15, for a total transaction of $10,067.20. Following the completion of the sale, the director directly owned 1,281,956 shares in the company, valued at approximately $9,165,985.40. The trade was a 0.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Semrush Trading Up 1.5%

Shares of NASDAQ SEMR traded up $0.11 during trading on Thursday, reaching $7.26. 1,403,901 shares of the company traded hands, compared to its average volume of 902,484. The stock has a market cap of $1.08 billion, a P/E ratio of 90.72 and a beta of 1.64. The firm's fifty day simple moving average is $7.83 and its 200 day simple moving average is $8.96. Semrush Holdings, Inc. has a 12-month low of $6.97 and a 12-month high of $18.74.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Needham & Company LLC cut their target price on shares of Semrush from $18.00 to $12.00 and set a "buy" rating for the company in a report on Tuesday, August 5th. KeyCorp set a $12.00 price objective on shares of Semrush and gave the company an "overweight" rating in a report on Tuesday, August 5th. The Goldman Sachs Group lowered their target price on shares of Semrush from $12.00 to $9.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 6th. Finally, Morgan Stanley set a $9.00 price target on Semrush and gave the company an "equal weight" rating in a research note on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $13.50.

Institutional Investors Weigh In On Semrush

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Semrush by 0.8% in the first quarter. Vanguard Group Inc. now owns 5,218,495 shares of the company's stock worth $48,689,000 after buying an additional 41,267 shares in the last quarter. Wellington Management Group LLP lifted its stake in Semrush by 18.7% in the 1st quarter. Wellington Management Group LLP now owns 1,819,030 shares of the company's stock worth $16,972,000 after purchasing an additional 286,674 shares in the last quarter. Millennium Management LLC grew its position in shares of Semrush by 4.9% in the first quarter. Millennium Management LLC now owns 1,306,684 shares of the company's stock valued at $12,191,000 after purchasing an additional 60,575 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Semrush in the first quarter valued at approximately $10,762,000. Finally, Bank of America Corp DE lifted its position in Semrush by 871.8% during the second quarter. Bank of America Corp DE now owns 940,144 shares of the company's stock worth $8,508,000 after buying an additional 843,406 shares in the last quarter. 32.86% of the stock is currently owned by institutional investors and hedge funds.

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.

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