Semrush (NASDAQ:SEMR) Sees Large Volume Increase - Here's Why

Semrush Holdings, Inc. (NASDAQ:SEMR - Get Free Report) shares saw strong trading volume on Wednesday . 1,742,257 shares were traded during trading, an increase of 207% from the previous session's volume of 567,099 shares.The stock last traded at $10.23 and had previously closed at $10.02.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. The Goldman Sachs Group cut their price target on shares of Semrush from $14.00 to $12.00 and set a "neutral" rating on the stock in a report on Friday, March 28th. Morgan Stanley decreased their price target on shares of Semrush from $19.00 to $13.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Finally, KeyCorp decreased their target price on shares of Semrush from $18.00 to $16.00 and set an "overweight" rating for the company in a research report on Thursday, May 8th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Semrush currently has an average rating of "Buy" and a consensus target price of $16.43.

Semrush Stock Performance

The firm has a market cap of $1.50 billion, a PE ratio of 126.20 and a beta of 1.71. The company's 50-day simple moving average is $9.75 and its two-hundred day simple moving average is $12.25.

Insiders Place Their Bets

In related news, CMO Andrew Warden sold 3,993 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $9.46, for a total transaction of $37,773.78. Following the completion of the sale, the chief marketing officer now directly owns 400,999 shares in the company, valued at approximately $3,793,450.54. The trade was a 0.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Brian Mulroy sold 4,207 shares of the company's stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $8.61, for a total transaction of $36,222.27. Following the completion of the transaction, the chief financial officer now owns 694,351 shares of the company's stock, valued at approximately $5,978,362.11. The trade was a 0.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,563,087 shares of company stock valued at $25,645,630. Insiders own 55.61% of the company's stock.

Hedge Funds Weigh In On Semrush

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Semrush by 0.8% during the first quarter. Vanguard Group Inc. now owns 5,218,495 shares of the company's stock worth $48,689,000 after acquiring an additional 41,267 shares during the last quarter. Dorsey Asset Management LLC boosted its position in shares of Semrush by 6.8% during the fourth quarter. Dorsey Asset Management LLC now owns 2,258,481 shares of the company's stock worth $26,831,000 after acquiring an additional 144,534 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Semrush by 18.7% during the first quarter. Wellington Management Group LLP now owns 1,819,030 shares of the company's stock worth $16,972,000 after acquiring an additional 286,674 shares during the last quarter. Millennium Management LLC boosted its position in shares of Semrush by 4.9% during the first quarter. Millennium Management LLC now owns 1,306,684 shares of the company's stock worth $12,191,000 after acquiring an additional 60,575 shares during the last quarter. Finally, Nuveen LLC bought a new position in shares of Semrush during the first quarter worth $10,762,000. Institutional investors own 32.86% of the company's stock.

Semrush Company Profile

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.