Semrush (NASDAQ:SEMR) Given New $12.00 Price Target at Needham & Company LLC

Semrush (NASDAQ:SEMR) had its price target decreased by Needham & Company LLC from $18.00 to $12.00 in a research report released on Tuesday,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

SEMR has been the topic of several other reports. KeyCorp lowered their price objective on Semrush from $16.00 to $12.00 and set an “overweight” rating on the stock in a research note on Tuesday. Morgan Stanley decreased their price target on Semrush from $19.00 to $13.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. One 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’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $15.00.

Semrush Stock Down 20.8%

NASDAQ SEMR opened at $7.29 on Tuesday. Semrush has a twelve month low of $7.10 and a twelve month high of $18.74. The stock has a market cap of $1.08 billion, a P/E ratio of 91.19 and a beta of 1.65. The company’s 50-day simple moving average is $9.28 and its 200 day simple moving average is $11.05.

Insider Buying and Selling

In related news, CMO Andrew Warden sold 7,344 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $10.81, for a total transaction of $79,388.64. Following the sale, the chief marketing officer directly owned 393,655 shares in the company, valued at $4,255,410.55. This represents a 1.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Oleg Shchegolev sold 2,500,000 shares of the firm’s stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $10.01, for a total value of $25,025,000.00. Following the sale, the chief technology officer directly owned 26,739,320 shares of the company’s stock, valued at $267,660,593.20. This represents a 8.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,561,250 shares of company stock valued at $25,650,643 in the last ninety days. 55.61% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Quarry LP increased its position in Semrush by 504.8% in the 4th quarter. Quarry LP now owns 4,300 shares of the company’s stock valued at $51,000 after acquiring an additional 3,589 shares in the last quarter. Signaturefd LLC bought a new stake in shares of Semrush during the first quarter valued at approximately $42,000. Amundi increased its holdings in shares of Semrush by 29.3% in the first quarter. Amundi now owns 4,890 shares of the company’s stock valued at $44,000 after purchasing an additional 1,108 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in Semrush in the 4th quarter worth approximately $71,000. Finally, Comerica Bank lifted its holdings in Semrush by 14.6% during the 4th quarter. Comerica Bank now owns 6,304 shares of the company’s stock worth $75,000 after buying an additional 801 shares in the last quarter. 32.86% of the stock is owned by institutional investors.

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.