Or Offer Sells 59,000 Shares of Similarweb (NYSE:SMWB) Stock

Similarweb Ltd. (NYSE:SMWB) CEO Or Offer sold 59,000 shares of the business’s stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $8.05, for a total value of $474,950.00. Following the transaction, the chief executive officer owned 4,333,091 shares of the company’s stock, valued at $34,881,382.55. This trade represents a 1.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, September 10th, Or Offer sold 59,200 shares of Similarweb stock. The stock was 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 shares were sold at an average price of $8.06, for a total transaction of $695,578.00.
• On Tuesday, September 8th, Or Offer sold 60,700 shares of Similarweb stock. The stock was sold at an average price of $8.33, for a total transaction 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 transaction of $3,448,143.00.
• On Thursday, August 13th, Or Offer sold 574,605 shares of Similarweb stock. The stock was sold at an average price of $8.80, for a total transaction of $5,056,524.00.
• On Friday, August 14th, Or Offer sold 134,992 shares of Similarweb stock. The shares were sold at an average price of $8.87, for a total transaction of $1,197,379.04.

Similarweb Stock Performance

Similarweb stock opened at $8.47 on Wednesday. The company has a market capitalization of $741.97 million, a PE ratio of -33.88 and a beta of 1.21. The company has a 50 day moving average price of $7.81 and a 200-day moving average price of $5.05. Similarweb Ltd. has a fifty-two week low of $2.22 and a fifty-two week high of $10.19.

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

Wall Street Analysts Forecast Growth

SMWB has been the subject of several research reports. Oppenheimer upped their price target on shares of Similarweb from $7.00 to $8.50 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. Barclays lifted their price objective on shares of Similarweb from $5.00 to $11.00 and gave the company an “overweight” rating in a report on Thursday, August 13th. Weiss Ratings reissued a “sell (e+)” rating on shares of Similarweb in a research note on Wednesday, August 12th. Northland Securities upgraded Similarweb from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $5.00 to $10.00 in a report on Wednesday, August 12th. Finally, Wall Street Zen downgraded Similarweb from a “strong-buy” rating to a “buy” rating in a report on Saturday. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $10.14.

Institutional Investors Weigh In On Similarweb

Hedge funds and other institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP raised its stake in Similarweb by 22.2% in the 2nd quarter. Wellington Management Group LLP now owns 3,624,685 shares of the company’s stock valued at $22,219,000 after purchasing an additional 657,928 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Similarweb by 104.6% during the 1st quarter. Renaissance Technologies LLC now owns 739,673 shares of the company’s stock worth $1,931,000 after purchasing an additional 378,200 shares during the last quarter. Militia Capital Management LLC purchased a new stake in shares of Similarweb during the first quarter worth $616,000. UBS Group AG grew its holdings in shares of Similarweb by 71.4% during the fourth quarter. UBS Group AG now owns 536,549 shares of the company’s stock worth $4,019,000 after buying an additional 223,562 shares in the last quarter. Finally, Lavelle Capital LP acquired a new stake in shares of Similarweb in the first quarter valued at about $529,000. 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.