Insider Selling: Semrush Holdings, Inc. (NASDAQ:SEMR) Director Sells 44,592 Shares of Stock

Semrush Holdings, Inc. (NASDAQ:SEMR) Director Dmitry Melnikov sold 44,592 shares of Semrush stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $12.76, for a total transaction of $568,993.92. Following the completion of the sale, the director now owns 8,978,501 shares of the company’s stock, valued at $114,565,672.76. This represents a 0.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Dmitry Melnikov also recently made the following trade(s):

• On Monday, December 16th, Dmitry Melnikov sold 38,790 shares of Semrush stock. The stock was sold at an average price of $13.42, for a total transaction of $520,561.80.
• On Friday, December 13th, Dmitry Melnikov sold 42,226 shares of Semrush stock. The shares were sold at an average price of $13.50, for a total value of $570,051.00.

Semrush Stock Performance

Shares of Semrush stock opened at $12.36 on Friday. Semrush Holdings, Inc. has a fifty-two week low of $9.64 and a fifty-two week high of $16.42. The company has a market capitalization of $1.81 billion, a P/E ratio of 154.52 and a beta of 1.59. The company has a fifty day moving average of $13.53 and a 200 day moving average of $13.82.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Needham & Company LLC reiterated a “buy” rating and set a $18.00 price objective on shares of Semrush in a research report on Monday, November 11th. The Goldman Sachs Group upped their price target on shares of Semrush from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, October 7th. KeyCorp boosted their price objective 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. raised their target price on Semrush from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $16.50.

Institutional Trading of Semrush

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company grew its holdings in Semrush by 28.4% during 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. Point72 Asset Management L.P. purchased a new position in Semrush during the second quarter valued at $123,000. DRW Securities LLC bought a new stake in Semrush in the 3rd quarter valued at $157,000. Virtu Financial LLC purchased a new stake in Semrush in the 3rd quarter worth $158,000. Finally, Olympiad Research LP bought a new position in shares of Semrush during the 3rd quarter valued at about $159,000. Institutional investors own 32.86% of the company’s stock.

About Semrush

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.