Essex Investment Management Co. LLC Has $3.75 Million Holdings in Similarweb Ltd. (NYSE:SMWB)

Essex Investment Management Co. LLC trimmed its position in shares of Similarweb Ltd. (NYSE:SMWB) by 13.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 264,820 shares of the company’s stock after selling 40,529 shares during the period. Essex Investment Management Co. LLC’s holdings in Similarweb were worth $3,752,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in SMWB. Global Retirement Partners LLC acquired a new stake in shares of Similarweb during the fourth quarter valued at about $29,000. New York State Common Retirement Fund acquired a new stake in shares of Similarweb during the fourth quarter valued at about $39,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Similarweb during the third quarter valued at about $70,000. Quantbot Technologies LP acquired a new stake in shares of Similarweb during the third quarter valued at about $75,000. Finally, Heck Capital Advisors LLC acquired a new stake in shares of Similarweb during the fourth quarter valued at about $115,000. 57.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Needham & Company LLC reissued a “buy” rating and set a $14.00 price target on shares of Similarweb in a research note on Thursday, February 13th. The Goldman Sachs Group initiated coverage on Similarweb in a research report on Wednesday, December 11th. They set a “buy” rating and a $16.00 price objective for the company. Jefferies Financial Group raised their price objective on Similarweb from $13.00 to $23.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Northland Securities raised their price objective on Similarweb from $17.00 to $20.00 and gave the stock an “outperform” rating in a research report on Friday, January 24th. Finally, William Blair restated an “outperform” rating on shares of Similarweb in a research report on Thursday, December 19th. Nine investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Similarweb has an average rating of “Buy” and a consensus price target of $16.50.

Similarweb Stock Performance

Shares of SMWB stock opened at $9.07 on Friday. The company has a market cap of $749.60 million, a P/E ratio of -64.80 and a beta of 1.08. The stock has a 50 day simple moving average of $13.62 and a two-hundred day simple moving average of $11.51. Similarweb Ltd. has a fifty-two week low of $5.71 and a fifty-two week high of $17.64.

Similarweb (NYSE:SMWB) last issued its earnings results on Tuesday, February 11th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.10). Similarweb had a negative return on equity of 47.62% and a negative net margin of 4.58%. On average, research analysts predict that Similarweb Ltd. will post -0.24 earnings per share for the current year.

About Similarweb

Similarweb Ltd. provides cloud-based digital intelligence solutions in the United States, Europe, the Asia Pacific, the United Kingdom, Israel, and internationally. The company offers digital research intelligence solutions for its customers to benchmark performance against competitors and market leaders, analyze trends in the market, conduct deeper research into specific companies, and analyze audience behavior; and digital marketing intelligence solutions for its customers to understand their competitors' online acquisition strategies in each marketing channel, and optimize their own strategies.