Semrush (NASDAQ:SEMR) Hits New 1-Year Low – Here’s Why

Shares of Semrush Holdings, Inc. (NASDAQ:SEMR) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $9.45 and last traded at $9.60, with a volume of 817886 shares trading hands. The stock had previously closed at $9.70.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Northland Capmk raised shares of Semrush to a “strong-buy” rating in a research note on Tuesday, January 14th. Northland Securities began coverage on Semrush in a research report on Tuesday, January 14th. They set an “outperform” rating and a $18.00 price target on the stock. Jefferies Financial Group lifted their price objective on Semrush from $17.00 to $21.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Morgan Stanley raised Semrush from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $17.00 to $20.00 in a research note on Monday, January 13th. Finally, Needham & Company LLC restated a “buy” rating and issued a $18.00 target price on shares of Semrush in a research note on Wednesday, January 15th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $18.71.

Semrush Trading Down 1.1 %

The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of 119.95 and a beta of 1.77. The company has a 50 day moving average price of $14.76 and a 200 day moving average price of $14.02.

Insider Activity at Semrush

In other news, CMO Andrew Warden sold 17,118 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $11.20, for a total value of $191,721.60. Following the transaction, the chief marketing officer now owns 404,992 shares of the company’s stock, valued at approximately $4,535,910.40. This trade represents a 4.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dmitry Melnikov sold 42,226 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $13.50, for a total transaction of $570,051.00. Following the sale, the director now directly owns 9,099,091 shares of the company’s stock, valued at approximately $122,837,728.50. This trade represents a 0.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 481,253 shares of company stock worth $6,192,121 over the last 90 days. Insiders own 57.83% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Topline Capital Management LLC bought a new stake in Semrush in the fourth quarter valued at about $9,267,000. Millennium Management LLC grew its position in shares of Semrush by 153.8% during the 4th quarter. Millennium Management LLC now owns 1,246,109 shares of the company’s stock worth $14,804,000 after buying an additional 755,220 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in shares of Semrush in the 4th quarter valued at about $6,869,000. Arrowstreet Capital Limited Partnership raised its position in shares of Semrush by 122.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 984,544 shares of the company’s stock valued at $11,696,000 after acquiring an additional 541,899 shares during the period. Finally, FMR LLC boosted its stake in Semrush by 19.4% during the 3rd quarter. FMR LLC now owns 2,876,365 shares of the company’s stock worth $45,188,000 after acquiring an additional 467,517 shares during the last quarter. Institutional investors and hedge funds 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.