Semrush (NASDAQ:SEMR) Reaches New 12-Month Low on Insider Selling

Shares of Semrush Holdings, Inc. (NASDAQ:SEMR) hit a new 52-week low on Thursday after an insider sold shares in the company. The stock traded as low as $8.65 and last traded at $8.94, with a volume of 64049 shares trading hands. The stock had previously closed at $9.45.

Specifically, CMO Andrew Warden sold 3,993 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $9.46, for a total transaction of $37,773.78. Following the sale, the chief marketing officer now owns 400,999 shares of the company’s stock, valued at $3,793,450.54. The trade was a 0.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, President Eugenie Levin sold 4,075 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $9.44, for a total value of $38,468.00. Following the transaction, the president now directly owns 797,393 shares of the company’s stock, valued at approximately $7,527,389.92. This trade represents a 0.51 % decrease in their position. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on SEMR shares. Northland Capmk upgraded Semrush to a “strong-buy” rating in a report on Tuesday, January 14th. Needham & Company LLC restated a “buy” rating and set a $18.00 price objective on shares of Semrush in a research note on Wednesday, January 15th. Morgan Stanley raised shares of Semrush from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $17.00 to $20.00 in a report on Monday, January 13th. Northland Securities started coverage on shares of Semrush in a report on Tuesday, January 14th. They set an “outperform” rating and a $18.00 price target on the stock. Finally, The Goldman Sachs Group decreased their price objective on shares of Semrush from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Friday, March 28th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $18.14.

Semrush Stock Performance

The firm has a market cap of $1.25 billion, a P/E ratio of 106.26 and a beta of 1.80. The firm’s fifty day simple moving average is $13.31 and its 200 day simple moving average is $13.53.

Hedge Funds Weigh In On Semrush

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. US Bancorp DE raised its holdings in shares of Semrush by 2,127.2% during the 4th quarter. US Bancorp DE now owns 3,608 shares of the company’s stock worth $43,000 after acquiring an additional 3,446 shares in the last quarter. Quarry LP increased its position in Semrush by 504.8% in the fourth quarter. Quarry LP now owns 4,300 shares of the company’s stock worth $51,000 after purchasing an additional 3,589 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Semrush during the fourth quarter valued at $71,000. Comerica Bank lifted its position in Semrush by 14.6% during 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 during the last quarter. Finally, Aquatic Capital Management LLC purchased a new position in shares of Semrush in the 4th quarter worth $86,000. 32.86% of the stock is owned by 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.