Quest Partners LLC Buys 11,851 Shares of Semrush Holdings, Inc. (NASDAQ:SEMR)

Quest Partners LLC increased its stake in shares of Semrush Holdings, Inc. (NASDAQ:SEMR) by 398.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 14,829 shares of the company’s stock after acquiring an additional 11,851 shares during the quarter. Quest Partners LLC’s holdings in Semrush were worth $233,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of SEMR. Point72 Asset Management L.P. acquired a new stake in Semrush during the second quarter worth approximately $123,000. Olympiad Research LP acquired a new stake in Semrush during the 3rd quarter worth approximately $159,000. Summit Global Investments bought a new stake in Semrush in the 2nd quarter valued at $156,000. Versor Investments LP acquired a new position in Semrush in the 2nd quarter valued at $174,000. Finally, The Manufacturers Life Insurance Company grew its holdings in Semrush by 28.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,777 shares of the company’s stock valued at $225,000 after buying an additional 3,706 shares in the last quarter. Institutional investors and hedge funds own 32.86% of the company’s stock.

Semrush Trading Down 0.4 %

NASDAQ SEMR opened at $13.84 on Wednesday. The firm’s 50 day simple moving average is $13.90 and its 200 day simple moving average is $14.06. The firm has a market capitalization of $2.03 billion, a price-to-earnings ratio of 173.02 and a beta of 1.62. Semrush Holdings, Inc. has a 1 year low of $9.64 and a 1 year high of $16.42.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In related news, 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 transaction of $126,750.96. Following the completion of the transaction, the chief executive officer now directly owns 4,378,823 shares of the company’s stock, valued at $61,916,557.22. This trade represents a 0.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Brian Mulroy sold 4,207 shares of the company’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $13.12, for a total value of $55,195.84. Following the completion of the sale, the chief financial officer now owns 433,211 shares in the company, valued at $5,683,728.32. This trade represents a 0.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 164,123 shares of company stock worth $2,320,088 over the last three months. Insiders own 57.83% 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.