Nuveen LLC Takes Position in Similarweb Ltd. $SMWB

Nuveen LLC acquired a new stake in shares of Similarweb Ltd. (NYSE:SMWB) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 722,971 shares of the company’s stock, valued at approximately $5,979,000. Nuveen LLC owned about 0.88% of Similarweb at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of SMWB. Geode Capital Management LLC increased its stake in shares of Similarweb by 236.6% during the 4th quarter. Geode Capital Management LLC now owns 33,730 shares of the company’s stock valued at $478,000 after acquiring an additional 23,708 shares during the last quarter. Legal & General Group Plc increased its position in Similarweb by 21.7% during the 4th quarter. Legal & General Group Plc now owns 39,371 shares of the company’s stock worth $558,000 after purchasing an additional 7,020 shares in the last quarter. T. Rowe Price Investment Management Inc. acquired a new stake in Similarweb during the 4th quarter worth approximately $9,563,000. Northern Trust Corp increased its position in Similarweb by 437.4% during the 4th quarter. Northern Trust Corp now owns 66,277 shares of the company’s stock worth $939,000 after purchasing an additional 53,945 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in Similarweb during the 4th quarter worth approximately $22,536,000. Institutional investors and hedge funds own 57.59% of the company’s stock.

Similarweb Stock Up 0.3%

Shares of NYSE:SMWB opened at $9.16 on Tuesday. Similarweb Ltd. has a 52-week low of $6.36 and a 52-week high of $17.64. The company has a 50 day moving average of $8.24 and a two-hundred day moving average of $8.33. The company has a market capitalization of $777.41 million, a price-to-earnings ratio of -26.17 and a beta of 1.11.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Zacks Research raised shares of Similarweb from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 14th. Citigroup dropped their target price on shares of Similarweb from $13.00 to $11.00 and set a “buy” rating for the company in a research report on Friday, August 1st. Barclays reissued an “overweight” rating on shares of Similarweb in a research report on Wednesday, August 13th. Finally, Oppenheimer increased their target price on shares of Similarweb from $13.00 to $14.00 and gave the stock an “outperform” rating in a research report on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Similarweb currently has an average rating of “Buy” and an average target price of $14.88.

About Similarweb

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.