Semrush (NASDAQ:SEMR) Sees Unusually-High Trading Volume – Should You Buy?

Semrush Holdings, Inc. (NASDAQ:SEMR) saw unusually-high trading volume on Friday . Approximately 886,324 shares were traded during mid-day trading, an increase of 76% from the previous session’s volume of 503,182 shares.The stock last traded at $14.55 and had previously closed at $14.76.

Analysts Set New Price Targets

SEMR has been the subject of several research analyst reports. The Goldman Sachs Group increased their price objective on Semrush from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Monday, October 7th. KeyCorp upped their price target on shares of Semrush from $19.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Needham & Company LLC reiterated a “buy” rating and issued a $18.00 price objective on shares of Semrush in a research note on Monday, November 11th. Finally, JPMorgan Chase & Co. upped their target price on shares of Semrush from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Semrush currently has an average rating of “Moderate Buy” and an average price target of $16.50.

Semrush Price Performance

The business has a 50-day moving average price of $13.89 and a two-hundred day moving average price of $14.08. The firm has a market cap of $2.08 billion, a PE ratio of 177.13 and a beta of 1.62.

Insider Buying and Selling at Semrush

In other Semrush news, Director Mark Vranesh sold 7,500 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $15.51, for a total transaction of $116,325.00. Following the sale, the director now owns 113,731 shares in the company, valued at approximately $1,763,967.81. This represents a 6.19 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Oleg Shchegolev sold 8,964 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $14.14, for a total value of $126,750.96. Following the transaction, the chief executive officer now directly owns 4,378,823 shares of the company’s stock, valued at $61,916,557.22. The trade was a 0.20 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 164,123 shares of company stock worth $2,320,088. 57.83% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. purchased a new stake in shares of Semrush during the second quarter worth about $123,000. Summit Global Investments purchased a new stake in Semrush in the 2nd quarter worth approximately $156,000. DRW Securities LLC acquired a new position in Semrush in the 3rd quarter valued at $157,000. Virtu Financial LLC purchased a new position in shares of Semrush during the 3rd quarter worth $158,000. Finally, Olympiad Research LP acquired a new stake in shares of Semrush during the third quarter worth $159,000. 32.86% of the stock is currently owned by hedge funds and other institutional investors.

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.