Fmr LLC Buys 467,517 Shares of Semrush Holdings, Inc. (NASDAQ:SEMR)

Fmr LLC boosted its stake in shares of Semrush Holdings, Inc. (NASDAQ:SEMR) by 19.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,876,365 shares of the company’s stock after purchasing an additional 467,517 shares during the quarter. Fmr LLC owned about 1.96% of Semrush worth $45,188,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. bought a new stake in shares of Semrush during the 2nd quarter worth $123,000. Summit Global Investments bought a new stake in Semrush during the second quarter valued at about $156,000. DRW Securities LLC acquired a new stake in shares of Semrush in the third quarter valued at about $157,000. Olympiad Research LP bought a new position in shares of Semrush in the third quarter worth about $159,000. Finally, Versor Investments LP acquired a new position in shares of Semrush during the 2nd quarter worth about $174,000. Institutional investors and hedge funds own 32.86% of the company’s stock.

Semrush Price Performance

Shares of Semrush stock opened at $14.13 on Friday. The firm has a market capitalization of $2.07 billion, a PE ratio of 176.65 and a beta of 1.59. Semrush Holdings, Inc. has a 52-week low of $9.64 and a 52-week high of $16.42. The company’s fifty day moving average price is $13.67 and its two-hundred day moving average price is $13.95.

Insiders Place Their Bets

In other Semrush news, COO Vitalii Obishchenko sold 55,000 shares of the stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $13.43, for a total transaction of $738,650.00. Following the completion of the transaction, the chief operating officer now owns 848,923 shares in the company, valued at approximately $11,401,035.89. This represents a 6.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Brian Mulroy sold 4,207 shares of the business’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $13.12, for a total value of $55,195.84. Following the completion of the sale, the chief financial officer now owns 433,211 shares in the company, valued at approximately $5,683,728.32. This trade represents a 0.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 154,112 shares of company stock worth $2,179,734. Company insiders own 57.83% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $18.00 target price on shares of Semrush in a report on Monday, November 11th. JPMorgan Chase & Co. boosted their target price on shares of Semrush from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. The Goldman Sachs Group increased their price target on shares of Semrush from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Monday, October 7th. Finally, KeyCorp boosted their price objective on shares of Semrush from $19.00 to $21.00 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. Based on data from MarketBeat.com, Semrush presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.50.

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.