Semrush (NASDAQ:SEMR) Trading Down 5.6% Following Insider Selling

Semrush Holdings, Inc. (NASDAQ:SEMR)’s stock price traded down 5.6% on Wednesday after an insider sold shares in the company. The company traded as low as $10.45 and last traded at $10.43. 314,915 shares were traded during trading, a decline of 59% from the average session volume of 768,101 shares. The stock had previously closed at $11.05.

Specifically, CMO Andrew Warden sold 17,118 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was 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 in the company, valued at $4,535,910.40. This trade represents a 4.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David W. Mason sold 9,127 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $11.14, for a total value of $101,674.78. Following the completion of the transaction, the insider now owns 272,924 shares in the company, valued at approximately $3,040,373.36. This represents a 3.24 % decrease in their position. The disclosure for this sale can be found here. In related news, CFO Brian Mulroy sold 22,547 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $11.20, for a total value of $252,526.40. Following the transaction, the chief financial officer now owns 698,558 shares in the company, valued at $7,823,849.60. This trade represents a 3.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on SEMR shares. Northland Capmk upgraded Semrush to a “strong-buy” rating in a report on Tuesday, January 14th. Jefferies Financial Group raised their price target on Semrush from $17.00 to $21.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Northland Securities started coverage on Semrush in a report on Tuesday, January 14th. They issued an “outperform” rating and a $18.00 price target on the stock. Morgan Stanley upgraded Semrush from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $17.00 to $20.00 in a report on Monday, January 13th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $18.00 price target on shares of Semrush in a report on Wednesday, January 15th. One equities 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. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $18.71.

Semrush Stock Down 1.6 %

The stock has a market cap of $1.49 billion, a P/E ratio of 126.95 and a beta of 1.77. The stock has a fifty day simple moving average of $14.88 and a 200-day simple moving average of $14.10.

Hedge Funds Weigh In On Semrush

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SEMR. Comerica Bank lifted its holdings in shares of Semrush by 14.6% during the 4th quarter. Comerica Bank now owns 6,304 shares of the company’s stock valued at $75,000 after purchasing an additional 801 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its holdings in shares of Semrush by 3.4% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 25,128 shares of the company’s stock valued at $299,000 after purchasing an additional 830 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Semrush by 4.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,772 shares of the company’s stock valued at $247,000 after purchasing an additional 912 shares in the last quarter. Magnetar Financial LLC lifted its holdings in shares of Semrush by 6.3% during the 4th quarter. Magnetar Financial LLC now owns 15,653 shares of the company’s stock valued at $186,000 after purchasing an additional 933 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its holdings in shares of Semrush by 11.7% during the 4th quarter. MetLife Investment Management LLC now owns 23,028 shares of the company’s stock valued at $274,000 after purchasing an additional 2,421 shares in the last quarter. Institutional investors 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.