Or Offer Sells 26,691 Shares of Similarweb (NYSE:SMWB) Stock

Similarweb Ltd. (NYSE:SMWB) CEO Or Offer sold 26,691 shares of the company’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $8.53, for a total value of $227,674.23. Following the sale, the chief executive officer owned 4,253,500 shares in the company, valued at approximately $36,282,355. This trade represents a 0.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Or Offer also recently made the following trade(s):

• On Friday, September 11th, Or Offer sold 59,000 shares of Similarweb stock. The shares were sold at an average price of $8.05, for a total transaction of $474,950.00.
• On Thursday, September 10th, Or Offer sold 59,200 shares of Similarweb stock. The shares were sold at an average price of $8.06, for a total value of $477,152.00.
• On Wednesday, September 9th, Or Offer sold 86,300 shares of Similarweb stock. The stock was sold at an average price of $8.06, for a total value of $695,578.00.
• On Tuesday, September 8th, Or Offer sold 60,700 shares of Similarweb stock. The shares were sold at an average price of $8.33, for a total value of $505,631.00.
• On Wednesday, August 26th, Or Offer sold 383,127 shares of Similarweb stock. The stock was sold at an average price of $9.00, for a total value of $3,448,143.00.
• On Thursday, August 13th, Or Offer sold 574,605 shares of Similarweb stock. The shares were sold at an average price of $8.80, for a total value of $5,056,524.00.
• On Friday, August 14th, Or Offer sold 134,992 shares of Similarweb stock. The stock was sold at an average price of $8.87, for a total transaction of $1,197,379.04.

Similarweb Trading Down 1.6%

Shares of NYSE:SMWB opened at $8.47 on Wednesday. The firm has a 50 day simple moving average of $7.81 and a 200-day simple moving average of $5.05. Similarweb Ltd. has a twelve month low of $2.22 and a twelve month high of $10.19. The company has a market capitalization of $741.97 million, a PE ratio of -33.88 and a beta of 1.21.

Similarweb (NYSE:SMWB) last announced its quarterly earnings results on Wednesday, August 12th. The company reported $0.06 earnings per share for the quarter. Similarweb had a negative net margin of 7.37% and a negative return on equity of 19.81%. The firm had revenue of $77.19 million during the quarter.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on SMWB shares. Oppenheimer increased their target price on shares of Similarweb from $7.00 to $8.50 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. Barclays upped their price objective on Similarweb from $5.00 to $11.00 and gave the company an “overweight” rating in a research note on Thursday, August 13th. Needham & Company LLC raised Similarweb from a “hold” rating to a “buy” rating in a research report on Wednesday. Wall Street Zen downgraded Similarweb from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Finally, Northland Securities raised Similarweb from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $5.00 to $10.00 in a report on Wednesday, August 12th. Five investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $10.14.

Institutional Trading of Similarweb

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Integrated Wealth Concepts LLC acquired a new position in shares of Similarweb during the 2nd quarter worth $92,000. Royce & Associates LP increased its position in Similarweb by 8.7% during the fourth quarter. Royce & Associates LP now owns 537,406 shares of the company’s stock worth $4,025,000 after purchasing an additional 43,078 shares during the last quarter. Bank of America Corp DE raised its stake in Similarweb by 475.3% during the first quarter. Bank of America Corp DE now owns 63,985 shares of the company’s stock worth $167,000 after purchasing an additional 52,863 shares during the period. S Squared Technology LLC boosted its holdings in shares of Similarweb by 12.9% in the 4th quarter. S Squared Technology LLC now owns 775,161 shares of the company’s stock valued at $5,806,000 after purchasing an additional 88,489 shares during the last quarter. Finally, Nano Cap New Millennium Growth Fund L P purchased a new stake in shares of Similarweb during the 4th quarter valued at $1,255,000. Hedge funds and other institutional investors own 57.59% of the company’s stock.

About Similarweb

Similarweb Ltd. is a digital intelligence company that provides data and analytics about online activity. Its platform helps organizations analyze website and mobile application performance, understand audience behavior, evaluate competitors, and identify trends across digital markets.

The company’s products support a range of business functions, including marketing, sales, market research, search engine optimization, investor research and business development. Similarweb combines data from multiple sources to provide insights into web traffic, mobile app usage, customer engagement, acquisition channels and industry positioning.

Founded in 2007, Similarweb serves businesses, agencies, financial institutions and other organizations in markets around the world.