Renaissance Technologies LLC Takes Position in Semrush Holdings, Inc. (NASDAQ:SEMR)

Renaissance Technologies LLC purchased a new stake in Semrush Holdings, Inc. (NASDAQ:SEMR) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 278,700 shares of the company’s stock, valued at approximately $3,732,000.

Other institutional investors also recently modified their holdings of the company. Summit Global Investments acquired a new stake in shares of Semrush in the second quarter valued at about $156,000. Versor Investments LP acquired a new stake in shares of Semrush in the second quarter valued at about $174,000. Los Angeles Capital Management LLC acquired a new position in Semrush during the second quarter worth approximately $258,000. Quadrature Capital Ltd acquired a new position in Semrush during the fourth quarter worth approximately $289,000. Finally, Trexquant Investment LP acquired a new position in Semrush during the fourth quarter worth approximately $351,000. 32.86% of the stock is currently owned by institutional investors.

Semrush Trading Up 1.7 %

Shares of SEMR stock opened at $15.38 on Monday. The stock has a market cap of $2.23 billion, a P/E ratio of 170.89 and a beta of 1.57. The stock has a 50 day simple moving average of $14.00 and a 200 day simple moving average of $13.76. Semrush Holdings, Inc. has a 1 year low of $7.36 and a 1 year high of $16.42.

Semrush (NASDAQ:SEMR) last released its earnings results on Monday, August 5th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.02). Semrush had a return on equity of 6.61% and a net margin of 4.39%. The business had revenue of $90.95 million for the quarter, compared to the consensus estimate of $89.70 million. Analysts forecast that Semrush Holdings, Inc. will post 0.08 EPS for the current year.

Insiders Place Their Bets

In other news, Director Dmitry Melnikov sold 64,140 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $14.59, for a total transaction of $935,802.60. Following the completion of the transaction, the director now directly owns 9,227,898 shares in the company, valued at $134,635,031.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Dmitry Melnikov sold 64,140 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $14.59, for a total transaction of $935,802.60. Following the completion of the transaction, the director now directly owns 9,227,898 shares in the company, valued at $134,635,031.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Oleg Shchegolev sold 9,451 shares of the stock in a transaction on Friday, July 5th. The shares were sold at an average price of $13.59, for a total value of $128,439.09. Following the completion of the sale, the chief executive officer now owns 4,387,787 shares of the company’s stock, valued at $59,630,025.33. The disclosure for this sale can be found here. Insiders sold 167,689 shares of company stock worth $2,343,097 over the last three months. Insiders own 57.83% of the company’s stock.

Analysts Set New Price Targets

SEMR has been the topic of a number of recent analyst reports. KeyCorp boosted their price target on Semrush from $17.00 to $19.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $18.00 target price on shares of Semrush in a research report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $14.33.

Semrush 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.