Semrush (NASDAQ:SEMR) Shares Gap Up on Analyst Upgrade

Shares of Semrush Holdings, Inc. (NASDAQ:SEMR) gapped up before the market opened on Tuesday after KeyCorp raised their price target on the stock from $17.00 to $19.00. The stock had previously closed at $12.91, but opened at $13.96. KeyCorp currently has an overweight rating on the stock. Semrush shares last traded at $13.60, with a volume of 22,405 shares.

Separately, Needham & Company LLC reiterated a “buy” rating and set a $18.00 price objective on shares of Semrush in a research note on Tuesday, July 16th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.33.

Insider Buying and Selling

In other news, COO Vitalii Obishchenko sold 4,740 shares of the firm’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $13.63, for a total value of $64,606.20. Following the completion of the sale, the chief operating officer now directly owns 903,923 shares in the company, valued at $12,320,470.49. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Anna Baird sold 10,000 shares of Semrush stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $15.41, for a total value of $154,100.00. Following the completion of the sale, the director now directly owns 34,534 shares in the company, valued at $532,168.94. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Vitalii Obishchenko sold 4,740 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $13.63, for a total transaction of $64,606.20. Following the completion of the transaction, the chief operating officer now directly owns 903,923 shares in the company, valued at $12,320,470.49. The disclosure for this sale can be found here. Insiders have sold a total of 331,841 shares of company stock worth $4,972,742 in the last three months. Insiders own 57.83% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SEMR. Raymond James Financial Services Advisors Inc. bought a new position in Semrush during the fourth quarter worth about $226,000. Mutual of America Capital Management LLC bought a new position in Semrush during the 4th quarter worth approximately $1,167,000. Russia Partners Management LLC acquired a new position in Semrush during the fourth quarter valued at approximately $122,715,000. Russell Investments Group Ltd. raised its holdings in Semrush by 20.9% in the fourth quarter. Russell Investments Group Ltd. now owns 9,036 shares of the company’s stock worth $123,000 after purchasing an additional 1,563 shares during the period. Finally, Swiss National Bank boosted its position in shares of Semrush by 8.1% during the fourth quarter. Swiss National Bank now owns 70,400 shares of the company’s stock worth $962,000 after purchasing an additional 5,300 shares in the last quarter. 32.86% of the stock is currently owned by institutional investors.

Semrush Trading Up 5.7 %

The firm’s fifty day moving average price is $14.09 and its 200-day moving average price is $13.21. The company has a market cap of $1.98 billion, a price-to-earnings ratio of 151.00 and a beta of 1.59.

Semrush (NASDAQ:SEMR) last issued its quarterly earnings data on Monday, May 6th. The company reported $0.01 EPS for the quarter, hitting analysts’ consensus estimates of $0.01. Semrush had a net margin of 4.01% and a return on equity of 6.05%. The business had revenue of $85.81 million for the quarter, compared to analyst estimates of $85.10 million. As a group, research analysts anticipate that Semrush Holdings, Inc. will post 0.12 EPS for the current year.

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.