Envestnet Asset Management Inc. Buys Shares of 51,216 Semrush Holdings, Inc. (NASDAQ:SEMR)

Envestnet Asset Management Inc. purchased a new position in shares of Semrush Holdings, Inc. (NASDAQ:SEMR) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 51,216 shares of the company’s stock, valued at approximately $608,000.

Other institutional investors have also modified their holdings of the company. Wells Fargo & Company MN lifted its position in shares of Semrush by 16.2% during the fourth quarter. Wells Fargo & Company MN now owns 49,015 shares of the company’s stock worth $582,000 after purchasing an additional 6,816 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Semrush by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 792,827 shares of the company’s stock worth $9,421,000 after buying an additional 4,537 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in Semrush by 356.3% during the 4th quarter. Alliancebernstein L.P. now owns 149,421 shares of the company’s stock worth $1,775,000 after buying an additional 116,672 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Semrush by 122.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 984,544 shares of the company’s stock valued at $11,696,000 after buying an additional 541,899 shares during the period. Finally, EntryPoint Capital LLC acquired a new position in shares of Semrush in the fourth quarter worth $230,000. 32.86% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Needham & Company LLC restated a “buy” rating and set a $18.00 target price on shares of Semrush in a research note on Wednesday, January 15th. The Goldman Sachs Group reduced their price objective on shares of Semrush from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Friday, March 28th. Northland Securities began coverage on shares of Semrush in a research report on Tuesday, January 14th. They set an “outperform” rating and a $18.00 price objective for the company. Jefferies Financial Group increased their target price on Semrush from $17.00 to $21.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Finally, Morgan Stanley decreased their price target on Semrush from $19.00 to $13.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Semrush currently has a consensus rating of “Buy” and an average price target of $17.14.

Semrush Price Performance

Shares of NASDAQ:SEMR opened at $10.39 on Friday. The firm has a market capitalization of $1.53 billion, a PE ratio of 129.92 and a beta of 1.80. Semrush Holdings, Inc. has a 12 month low of $7.90 and a 12 month high of $18.74. The business has a 50-day moving average of $9.81 and a two-hundred day moving average of $12.76.

Insider Buying and Selling at Semrush

In related news, General Counsel David W. Mason sold 1,875 shares of Semrush stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $17.15, for a total transaction of $32,156.25. Following the transaction, the general counsel now owns 158,415 shares in the company, valued at approximately $2,716,817.25. The trade was a 1.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Eugenie Levin sold 15,093 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $17.11, for a total value of $258,241.23. Following the completion of the transaction, the president now directly owns 493,456 shares in the company, valued at $8,443,032.16. This trade represents a 2.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 175,374 shares of company stock valued at $2,012,411 over the last ninety days. Corporate insiders own 57.83% 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.