Millennium Management LLC Sells 433,954 Shares of Similarweb Ltd. (NYSE:SMWB)

Millennium Management LLC cut its stake in Similarweb Ltd. (NYSE:SMWB) by 80.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 108,328 shares of the company’s stock after selling 433,954 shares during the quarter. Millennium Management LLC owned 0.13% of Similarweb worth $1,535,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Meitav Investment House Ltd. increased its holdings in Similarweb by 17.0% during the 4th quarter. Meitav Investment House Ltd. now owns 12,846 shares of the company’s stock worth $182,000 after purchasing an additional 1,870 shares in the last quarter. Global Retirement Partners LLC bought a new position in shares of Similarweb during the fourth quarter worth about $29,000. New York State Common Retirement Fund bought a new position in shares of Similarweb during the fourth quarter worth about $39,000. Oppenheimer & Co. Inc. grew its holdings in shares of Similarweb by 4.3% during the fourth quarter. Oppenheimer & Co. Inc. now owns 111,149 shares of the company’s stock worth $1,575,000 after buying an additional 4,542 shares in the last quarter. Finally, ANTIPODES PARTNERS Ltd grew its holdings in shares of Similarweb by 52.2% during the fourth quarter. ANTIPODES PARTNERS Ltd now owns 16,166 shares of the company’s stock worth $229,000 after buying an additional 5,542 shares in the last quarter. 57.59% of the stock is owned by institutional investors.

Similarweb Price Performance

Shares of NYSE SMWB opened at $7.40 on Wednesday. Similarweb Ltd. has a one year low of $5.71 and a one year high of $17.64. The business’s fifty day moving average price is $7.39 and its 200-day moving average price is $10.90. The stock has a market capitalization of $611.05 million, a PE ratio of -52.82 and a beta of 1.13.

Similarweb (NYSE:SMWB) last posted its quarterly earnings data on Tuesday, May 13th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.09). Similarweb had a negative net margin of 4.58% and a negative return on equity of 47.62%. The company had revenue of $67.09 million for the quarter, compared to analysts’ expectations of $66.37 million. As a group, equities analysts expect that Similarweb Ltd. will post -0.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SMWB. The Goldman Sachs Group decreased their price target on Similarweb from $13.00 to $10.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. JMP Securities reissued a “market outperform” rating and issued a $17.00 target price on shares of Similarweb in a research note on Thursday, February 13th. Barclays decreased their target price on shares of Similarweb from $15.00 to $10.00 and set an “overweight” rating for the company in a research note on Thursday, May 15th. Citigroup raised their target price on shares of Similarweb from $14.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $14.00 price objective on shares of Similarweb in a research report on Thursday, February 13th. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Similarweb presently has a consensus rating of “Buy” and a consensus price target of $15.75.

Similarweb Profile

Similarweb Ltd. provides cloud-based digital intelligence solutions in the United States, Europe, the Asia Pacific, the United Kingdom, Israel, and internationally. The company offers digital research intelligence solutions for its customers to benchmark performance against competitors and market leaders, analyze trends in the market, conduct deeper research into specific companies, and analyze audience behavior; and digital marketing intelligence solutions for its customers to understand their competitors' online acquisition strategies in each marketing channel, and optimize their own strategies.