Envestnet Asset Management Inc. Boosts Stake in Semrush Holdings, Inc. (NASDAQ:SEMR)

Envestnet Asset Management Inc. lifted its holdings in Semrush Holdings, Inc. (NASDAQ:SEMR) by 19.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,218 shares of the company’s stock after buying an additional 10,002 shares during the period. Envestnet Asset Management Inc.’s holdings in Semrush were worth $571,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. VELA Investment Management LLC increased its position in shares of Semrush by 115.0% during the first quarter. VELA Investment Management LLC now owns 156,772 shares of the company’s stock valued at $1,463,000 after acquiring an additional 83,858 shares during the last quarter. Ceera Investments LLC increased its position in shares of Semrush by 48.5% during the first quarter. Ceera Investments LLC now owns 243,605 shares of the company’s stock valued at $2,273,000 after acquiring an additional 79,510 shares during the last quarter. Teacher Retirement System of Texas increased its position in shares of Semrush by 20.3% during the first quarter. Teacher Retirement System of Texas now owns 31,825 shares of the company’s stock valued at $297,000 after acquiring an additional 5,381 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Semrush during the first quarter valued at about $214,000. Finally, Rhumbline Advisers increased its position in shares of Semrush by 4.9% during the first quarter. Rhumbline Advisers now owns 49,889 shares of the company’s stock valued at $465,000 after acquiring an additional 2,314 shares during the last quarter. 32.86% of the stock is owned by hedge funds and other institutional investors.

Semrush Stock Performance

Shares of SEMR stock opened at $7.29 on Wednesday. The stock has a market capitalization of $1.08 billion, a P/E ratio of 91.19 and a beta of 1.65. The company has a 50 day moving average price of $9.28 and a 200 day moving average price of $11.05. Semrush Holdings, Inc. has a fifty-two week low of $7.10 and a fifty-two week high of $18.74.

Insider Activity at Semrush

In other Semrush news, insider David W. Mason sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $10.03, for a total transaction of $75,225.00. Following the completion of the transaction, the insider owned 261,702 shares in the company, valued at $2,624,871.06. The trade was a 2.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Brian Mulroy sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $10.43, for a total transaction of $208,600.00. Following the transaction, the chief financial officer owned 907,385 shares of the company’s stock, valued at $9,464,025.55. This trade represents a 2.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,561,250 shares of company stock worth $25,650,643 over the last ninety days. 55.61% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on SEMR shares. KeyCorp dropped their price target on shares of Semrush from $16.00 to $12.00 and set an “overweight” rating for the company in a research report on Tuesday. Morgan Stanley dropped their price objective on shares of Semrush from $19.00 to $13.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Finally, Needham & Company LLC dropped their price objective on shares of Semrush from $18.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $15.00.

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.