Trexquant Investment LP Reduces Holdings in Similarweb Ltd. (NYSE:SMWB)

Trexquant Investment LP trimmed its stake in Similarweb Ltd. (NYSE:SMWB) by 29.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 104,475 shares of the company’s stock after selling 43,966 shares during the period. Trexquant Investment LP’s holdings in Similarweb were worth $1,480,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of SMWB. Global Retirement Partners LLC purchased a new position in shares of Similarweb in the 4th quarter valued at $29,000. New York State Common Retirement Fund purchased a new position in shares of Similarweb in the 4th quarter valued at $39,000. Public Employees Retirement System of Ohio purchased a new position in shares of Similarweb in the 3rd quarter valued at $70,000. Heck Capital Advisors LLC purchased a new position in shares of Similarweb in the 4th quarter valued at $115,000. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Similarweb in the 4th quarter valued at $115,000. 57.59% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on SMWB shares. William Blair reaffirmed an “outperform” rating on shares of Similarweb in a research report on Thursday, December 19th. Northland Securities raised their price objective on shares of Similarweb from $17.00 to $20.00 and gave the stock an “outperform” rating in a research report on Friday, January 24th. The Goldman Sachs Group lowered their price objective on shares of Similarweb from $15.00 to $13.00 and set a “buy” rating on the stock in a research report on Friday, March 28th. Citigroup raised their price objective on shares of Similarweb from $14.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Finally, Jefferies Financial Group raised their price objective on shares of Similarweb from $13.00 to $23.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Nine equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $16.13.

Similarweb Stock Up 10.4 %

Shares of NYSE:SMWB opened at $7.32 on Thursday. The company has a market cap of $604.77 million, a price-to-earnings ratio of -52.28 and a beta of 1.12. The firm’s 50-day simple moving average is $10.13 and its 200-day simple moving average is $11.39. Similarweb Ltd. has a fifty-two week low of $5.71 and a fifty-two week high of $17.64.

Similarweb (NYSE:SMWB) last issued its earnings results on Tuesday, February 11th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.10). Similarweb had a negative net margin of 4.58% and a negative return on equity of 47.62%. On average, research analysts forecast that Similarweb Ltd. will post -0.24 EPS for the current year.

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.