Aigen Investment Management LP Reduces Stake in Semrush Holdings, Inc. (NASDAQ:SEMR)

Aigen Investment Management LP trimmed its position in shares of Semrush Holdings, Inc. (NASDAQ:SEMR) by 19.7% during the third quarter, Holdings Channel reports. The firm owned 11,048 shares of the company’s stock after selling 2,705 shares during the quarter. Aigen Investment Management LP’s holdings in Semrush were worth $174,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Point72 Asset Management L.P. acquired a new stake in Semrush in the 2nd quarter valued at about $123,000. Olympiad Research LP acquired a new stake in shares of Semrush in the third quarter valued at approximately $159,000. Summit Global Investments acquired a new position in shares of Semrush during the 2nd quarter worth approximately $156,000. Versor Investments LP purchased a new stake in Semrush in the 2nd quarter valued at approximately $174,000. Finally, The Manufacturers Life Insurance Company grew its holdings in Semrush by 28.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,777 shares of the company’s stock valued at $225,000 after buying an additional 3,706 shares during the last quarter. Hedge funds and other institutional investors own 32.86% of the company’s stock.

Semrush Trading Up 0.8 %

Shares of Semrush stock opened at $13.37 on Friday. The stock has a market capitalization of $1.96 billion, a P/E ratio of 167.15 and a beta of 1.62. The business’s fifty day moving average price is $13.82 and its 200 day moving average price is $14.04. Semrush Holdings, Inc. has a twelve month low of $9.12 and a twelve month high of $16.42.

Insider Activity

In related news, President Eugenie Levin sold 3,788 shares of Semrush stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $14.12, for a total transaction of $53,486.56. Following the transaction, the president now owns 601,892 shares in the company, valued at approximately $8,498,715.04. The trade was a 0.63 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CMO Andrew Warden sold 3,953 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $14.73, for a total value of $58,227.69. Following the completion of the sale, the chief marketing officer now owns 257,364 shares of the company’s stock, valued at approximately $3,790,971.72. This represents a 1.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 164,123 shares of company stock valued at $2,320,088 in the last three months. Corporate insiders own 57.83% of the company’s stock.

Analysts Set New Price Targets

SEMR has been the topic of several recent research reports. KeyCorp upped their price objective on Semrush from $19.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. The Goldman Sachs Group lifted their price target on shares of Semrush from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Monday, October 7th. Needham & Company LLC reissued a “buy” rating and set a $18.00 price objective on shares of Semrush in a research note on Monday, November 11th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Semrush from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.50.

Semrush 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.