Russell Investments Group Ltd. Has $2.24 Million Stock Holdings in Similarweb Ltd. $SMWB

Russell Investments Group Ltd. trimmed its position in shares of Similarweb Ltd. (NYSE:SMWB) by 24.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 270,594 shares of the company’s stock after selling 86,779 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.33% of Similarweb worth $2,238,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in SMWB. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Similarweb during the fourth quarter valued at about $22,536,000. Migdal Insurance & Financial Holdings Ltd. lifted its stake in shares of Similarweb by 61.3% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,762,557 shares of the company’s stock worth $22,846,000 after acquiring an additional 1,050,000 shares during the period. Nuveen LLC acquired a new position in shares of Similarweb in the first quarter worth approximately $5,979,000. T. Rowe Price Investment Management Inc. acquired a new position in shares of Similarweb in the fourth quarter worth approximately $9,563,000. Finally, CenterBook Partners LP lifted its stake in shares of Similarweb by 307.2% in the first quarter. CenterBook Partners LP now owns 807,696 shares of the company’s stock worth $6,680,000 after acquiring an additional 609,365 shares during the period. 57.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Barclays reaffirmed an “overweight” rating on shares of Similarweb in a research note on Wednesday, August 13th. Zacks Research raised Similarweb from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 14th. Citigroup cut their price objective on Similarweb from $13.00 to $11.00 and set a “buy” rating on the stock in a research note on Friday, August 1st. Finally, Oppenheimer lifted their price objective on Similarweb from $13.00 to $14.00 and gave the stock an “outperform” rating in a research note on Monday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $14.88.

Similarweb Stock Performance

Shares of SMWB stock opened at $9.16 on Tuesday. The company has a market cap of $777.41 million, a P/E ratio of -26.17 and a beta of 1.11. The stock has a 50 day simple moving average of $8.24 and a two-hundred day simple moving average of $8.33. Similarweb Ltd. has a fifty-two week low of $6.36 and a fifty-two week high of $17.64.

Similarweb Company 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.