Acadian Asset Management LLC Trims Stock Position in Similarweb Ltd. $SMWB

Acadian Asset Management LLC lowered its stake in shares of Similarweb Ltd. (NYSE:SMWB) by 79.2% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 185,065 shares of the company’s stock after selling 703,577 shares during the period. Acadian Asset Management LLC owned about 0.22% of Similarweb worth $1,526,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Palogic Value Management L.P. purchased a new position in shares of Similarweb during the 1st quarter valued at about $864,000. PDT Partners LLC raised its stake in shares of Similarweb by 151.3% during the 1st quarter. PDT Partners LLC now owns 94,671 shares of the company’s stock valued at $783,000 after buying an additional 56,991 shares during the last quarter. Cubist Systematic Strategies LLC raised its stake in shares of Similarweb by 80.2% during the 1st quarter. Cubist Systematic Strategies LLC now owns 185,502 shares of the company’s stock valued at $1,534,000 after buying an additional 82,536 shares during the last quarter. Trexquant Investment LP raised its stake in shares of Similarweb by 104.5% during the 1st quarter. Trexquant Investment LP now owns 213,683 shares of the company’s stock valued at $1,767,000 after buying an additional 109,208 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its stake in shares of Similarweb by 109.1% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,410,826 shares of the company’s stock valued at $11,668,000 after purchasing an additional 736,004 shares in the last quarter. Hedge funds and other institutional investors own 57.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SMWB. Citigroup cut their price target on Similarweb from $13.00 to $11.00 and set a “buy” rating for the company in a research note on Friday, August 1st. Barclays restated an “overweight” rating on shares of Similarweb in a research note on Wednesday, August 13th. Zacks Research upgraded Similarweb from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 14th. Finally, Oppenheimer lifted their price target on Similarweb from $13.00 to $14.00 and gave the company an “outperform” rating in a research note on Monday, August 18th. Nine research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $14.88.

Similarweb Price Performance

Shares of Similarweb stock opened at $10.00 on Wednesday. The stock has a market cap of $848.70 million, a P/E ratio of -28.57 and a beta of 1.13. The stock’s 50 day simple moving average is $8.88 and its 200-day simple moving average is $8.22. Similarweb Ltd. has a 1-year low of $6.36 and a 1-year high of $17.64.

Similarweb 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.