Semrush (NASDAQ:SEMR) Sets New 12-Month Low After Analyst Downgrade

Key Points

• Semrush Holdings, Inc. reached a new 52-week low of $7.26 after KeyCorp downgraded their price target from $16.00 to $12.00, maintaining an overweight rating.
• In addition to KeyCorp, Morgan Stanley lowered their price objective from $19.00 to $13.00, while Semrush maintains an overall consensus rating of "Buy" with a target price of $15.86.
• Significant insider activity includes sales by David W. Mason and CFO Brian Mulroy, with over 2.5 million shares sold by insiders in the past 90 days.

Semrush Holdings, Inc. (NASDAQ:SEMR - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Tuesday after The Goldman Sachs Group lowered their price target on the stock from $12.00 to $9.00. The Goldman Sachs Group currently has a neutral rating on the stock. Semrush traded as low as $7.28 and last traded at $7.26, with a volume of 420733 shares. The stock had previously closed at $9.21.

Several other analysts have also recently issued reports on the stock. Morgan Stanley set a $9.00 price objective on shares of Semrush and gave the company an "equal weight" rating in a research note on Tuesday. Needham & Company LLC reduced their price target on shares of Semrush from $18.00 to $12.00 and set a "buy" rating on the stock in a research report on Tuesday. Finally, KeyCorp set a $12.00 target price on shares of Semrush and gave the company an "overweight" rating in a research note on Tuesday. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $14.00.

Insiders Place Their Bets

In related news, CTO Oleg Shchegolev sold 2,500,000 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $10.01, for a total value of $25,025,000.00. Following the sale, the chief technology officer directly owned 26,739,320 shares in the company, valued at $267,660,593.20. This trade represents a 8.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Brian Mulroy sold 20,000 shares of the business's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $10.43, for a total transaction of $208,600.00. Following the transaction, the chief financial officer owned 907,385 shares of the company's stock, valued at approximately $9,464,025.55. This represents a 2.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,561,250 shares of company stock valued at $25,650,643 over the last quarter. Company insiders own 55.61% of the company's stock.

Institutional Trading of Semrush

Several hedge funds have recently added to or reduced their stakes in the business. Comerica Bank lifted its holdings in shares of Semrush by 14.6% in the fourth quarter. Comerica Bank now owns 6,304 shares of the company's stock valued at $75,000 after purchasing an additional 801 shares in the last quarter. D. E. Shaw & Co. Inc. raised its holdings in shares of Semrush by 3.4% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 25,128 shares of the company's stock valued at $299,000 after purchasing an additional 830 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Semrush by 4.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,772 shares of the company's stock worth $247,000 after purchasing an additional 912 shares in the last quarter. Amundi boosted its holdings in Semrush by 29.3% during the first quarter. Amundi now owns 4,890 shares of the company's stock worth $44,000 after purchasing an additional 1,108 shares during the last quarter. Finally, Martingale Asset Management L P increased its stake in Semrush by 2.4% in the 1st quarter. Martingale Asset Management L P now owns 54,352 shares of the company's stock valued at $507,000 after buying an additional 1,268 shares during the last quarter. Institutional investors and hedge funds own 32.86% of the company's stock.

Semrush Trading Down 1.6%

The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of 93.46 and a beta of 1.65. The stock's 50 day moving average price is $9.18 and its 200 day moving average price is $10.97.

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.