Semrush (NASDAQ:SEMR) Sees Large Volume Increase – Here’s What Happened

Semrush Holdings, Inc. (NASDAQ:SEMR) shares saw strong trading volume on Friday . 886,324 shares were traded during trading, an increase of 76% from the previous session’s volume of 503,182 shares.The stock last traded at $14.55 and had previously closed at $14.76.

Analyst Ratings Changes

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

Semrush Price Performance

The firm has a market cap of $2.11 billion, a PE ratio of 184.52 and a beta of 1.62. The business has a 50-day simple moving average of $13.88 and a 200 day simple moving average of $14.07.

Insider Buying and Selling at Semrush

In other news, President Eugenie Levin sold 3,788 shares of Semrush stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $14.12, for a total transaction of $53,486.56. Following the completion of the sale, the president now directly owns 601,892 shares in the company, valued at approximately $8,498,715.04. This trade represents a 0.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dmitry Melnikov sold 10,011 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $14.02, for a total transaction of $140,354.22. Following the completion of the sale, the director now directly owns 9,362,419 shares of the company’s stock, valued at approximately $131,261,114.38. This trade represents a 0.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 164,123 shares of company stock valued at $2,320,088 in the last 90 days. Insiders own 57.83% of the company’s stock.

Hedge Funds Weigh In On Semrush

Several institutional investors have recently made changes to their positions in the company. Virtu Financial LLC bought a new stake in shares of Semrush in the 3rd quarter valued at about $158,000. Barclays PLC raised its stake in Semrush by 115.2% in the third quarter. Barclays PLC now owns 102,407 shares of the company’s stock worth $1,609,000 after buying an additional 54,830 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Semrush by 4.8% during the third quarter. Geode Capital Management LLC now owns 788,290 shares of the company’s stock worth $12,387,000 after buying an additional 36,173 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in Semrush during the 3rd quarter valued at $608,000. Finally, Wellington Management Group LLP increased its holdings in shares of Semrush by 12.4% in the 3rd quarter. Wellington Management Group LLP now owns 1,529,624 shares of the company’s stock valued at $24,030,000 after acquiring an additional 168,400 shares during the period. Hedge funds and other 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.