Semrush (NASDAQ:SEMR) Reaches New 12-Month Low Following Analyst Downgrade

Shares of Semrush Holdings, Inc. (NASDAQ:SEMR) reached a new 52-week low during trading on Tuesday after Needham & Company LLC lowered their price target on the stock from $18.00 to $12.00. Needham & Company LLC currently has a buy rating on the stock. Semrush traded as low as $7.28 and last traded at $7.26, with a volume of 420733 shares changing hands. The stock had previously closed at $9.21.

Other analysts have also issued research reports about the stock. Morgan Stanley decreased their target price on shares of Semrush from $19.00 to $13.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. KeyCorp decreased their target price on shares of Semrush from $16.00 to $12.00 and set an “overweight” rating on the stock in a research report on Tuesday. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $15.00.

Insider Buying and Selling

In other Semrush news, CMO Andrew Warden sold 7,344 shares of Semrush stock in a transaction on Monday, May 12th. The shares were sold at an average price of $10.81, for a total value of $79,388.64. Following the transaction, the chief marketing officer owned 393,655 shares in the company, valued at $4,255,410.55. This trade represents a 1.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Anna Baird sold 20,000 shares of Semrush stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $10.00, for a total transaction of $200,000.00. Following the completion of the transaction, the director owned 26,556 shares in the company, valued at approximately $265,560. This trade represents a 42.96% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,561,250 shares of company stock worth $25,650,643 over the last 90 days. Company insiders own 55.61% of the company’s stock.

Hedge Funds Weigh In On Semrush

A number of hedge funds have recently made changes to their positions in SEMR. KLP Kapitalforvaltning AS acquired a new position in shares of Semrush in the 4th quarter valued at $71,000. Vanguard Group Inc. boosted its holdings in shares of Semrush by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 5,177,228 shares of the company’s stock valued at $61,505,000 after purchasing an additional 113,222 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in shares of Semrush by 356.3% in the 4th quarter. Alliancebernstein L.P. now owns 149,421 shares of the company’s stock valued at $1,775,000 after purchasing an additional 116,672 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Semrush by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 792,827 shares of the company’s stock valued at $9,421,000 after purchasing an additional 4,537 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in shares of Semrush by 16.2% in the 4th quarter. Wells Fargo & Company MN now owns 49,015 shares of the company’s stock valued at $582,000 after purchasing an additional 6,816 shares during the last quarter. Institutional investors and hedge funds own 32.86% of the company’s stock.

Semrush Stock Performance

The company has a market cap of $1.08 billion, a price-to-earnings ratio of 91.19 and a beta of 1.65. The stock’s fifty day simple moving average is $9.28 and its two-hundred day simple moving average is $11.05.

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.