Semrush (NASDAQ:SEMR) Shares Gap Up - Here's Why

Key Points

• Semrush's stock price gapped up from a previous close of $8.49 to an opening price of $9.10 before trading at $9.01 with a volume of 373,123 shares.
• Analysts have downgraded Semrush's price target, with Morgan Stanley lowering it from $19.00 to $13.00, while KeyCorp adjusted it from $18.00 to $16.00.
• Insider activity includes Director Mark Vranesh selling 5,000 shares and CTO Oleg Shchegolev selling 2,500,000 shares in recent transactions, indicating significant insider trading.

Semrush Holdings, Inc. (NASDAQ:SEMR - Get Free Report) shares gapped up prior to trading on Monday . The stock had previously closed at $8.49, but opened at $9.10. Semrush shares last traded at $9.01, with a volume of 373,123 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on SEMR shares. Needham & Company LLC dropped their target price on shares of Semrush from $18.00 to $12.00 and set a "buy" rating for the company in a research report on Tuesday. Morgan Stanley set a $9.00 target price on shares of Semrush and gave the stock an "equal weight" rating in a research report on Tuesday. The Goldman Sachs Group cut their price objective on shares of Semrush from $12.00 to $9.00 and set a "neutral" rating on the stock in a research report on Wednesday. Finally, KeyCorp set a $12.00 price objective on shares of Semrush and gave the stock 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 assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Semrush has an average rating of "Moderate Buy" and a consensus price target of $14.00.

Semrush Stock Performance

The business has a 50-day moving average of $9.28 and a 200-day moving average of $11.05. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of 93.07 and a beta of 1.65.

Insider Buying and Selling at Semrush

In other Semrush news, CTO Oleg Shchegolev sold 2,500,000 shares of the business's stock in a transaction on 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 sale, the chief technology officer directly owned 26,739,320 shares in the company, valued at approximately $267,660,593.20. The trade was a 8.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Brian Mulroy sold 20,000 shares of the business's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $10.43, for a total value of $208,600.00. Following the completion of the transaction, the chief financial officer directly owned 907,385 shares of the company's stock, valued at approximately $9,464,025.55. This trade represents a 2.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,561,250 shares of company stock worth $25,650,643. 55.61% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Semrush

Several institutional investors and hedge funds have recently modified their holdings of SEMR. Ameriprise Financial Inc. bought a new position in Semrush during the 4th quarter valued at $1,554,000. Two Sigma Investments LP raised its holdings in shares of Semrush by 56.6% during the fourth quarter. Two Sigma Investments LP now owns 174,927 shares of the company's stock worth $2,078,000 after acquiring an additional 63,200 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Semrush during the first quarter worth $214,000. Envestnet Asset Management Inc. purchased a new stake in shares of Semrush during the fourth quarter worth $608,000. Finally, Dimensional Fund Advisors LP raised its holdings in Semrush by 17.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 822,246 shares of the company's stock valued at $9,768,000 after buying an additional 123,709 shares in the last quarter. Hedge funds and other 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.