Semrush (NASDAQ:SEMR) Reaches New 1-Year 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 traded. The stock had previously closed at $9.21.

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

Insider Buying and Selling at Semrush

In other Semrush news, CFO Brian Mulroy sold 20,000 shares of the business's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $10.43, for a total transaction of $208,600.00. Following the sale, the chief financial officer directly owned 907,385 shares of the company's stock, valued at $9,464,025.55. The trade was a 2.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Oleg Shchegolev sold 2,500,000 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The stock was 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. The trade was a 8.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,561,250 shares of company stock worth $25,650,643. 55.61% of the stock is owned by corporate insiders.

Institutional Trading of Semrush

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

Semrush Stock Down 5.0%

The company's 50 day moving average price is $9.13 and its two-hundred day moving average price is $10.91. The stock has a market cap of $1.05 billion, a P/E ratio of 88.82 and a beta of 1.65.

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.