Semrush (NASDAQ:SEMR) Hits New 52-Week Low on Insider Selling

Semrush Holdings, Inc. (NASDAQ:SEMR) shares reached a new 52-week low during mid-day trading on Thursday after an insider sold shares in the company. The company traded as low as $10.30 and last traded at $10.57, with a volume of 45755 shares trading hands. The stock had previously closed at $10.74.

Specifically, CMO Andrew Warden sold 17,118 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $11.20, for a total value of $191,721.60. Following the completion of the transaction, the chief marketing officer now directly owns 404,992 shares in the company, valued at $4,535,910.40. This trade represents a 4.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider David W. Mason sold 9,127 shares of Semrush stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $11.14, for a total value of $101,674.78. Following the sale, the insider now directly owns 272,924 shares of the company’s stock, valued at approximately $3,040,373.36. The trade was a 3.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other Semrush news, CFO Brian Mulroy sold 22,547 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $11.20, for a total value of $252,526.40. Following the transaction, the chief financial officer now directly owns 698,558 shares of the company’s stock, valued at $7,823,849.60. This represents a 3.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Wall Street Analyst Weigh In

SEMR has been the subject of a number of recent research reports. Northland Capmk raised shares of Semrush to a “strong-buy” rating in a research report on Tuesday, January 14th. Northland Securities started coverage on Semrush in a research note on Tuesday, January 14th. They issued an “outperform” rating and a $18.00 price target for the company. Needham & Company LLC restated a “buy” rating and set a $18.00 price objective on shares of Semrush in a research note on Wednesday, January 15th. Morgan Stanley upgraded Semrush from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $17.00 to $20.00 in a research report on Monday, January 13th. Finally, Jefferies Financial Group boosted their price target on Semrush from $17.00 to $21.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.88.

Semrush Stock Performance

The company has a fifty day moving average of $14.92 and a two-hundred day moving average of $14.12. The company has a market cap of $1.55 billion, a price-to-earnings ratio of 133.14 and a beta of 1.77.

Institutional Trading of Semrush

A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Semrush by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 5,177,228 shares of the company’s stock worth $61,505,000 after acquiring an additional 113,222 shares during the last quarter. FMR LLC lifted its holdings in Semrush by 19.4% during the 3rd quarter. FMR LLC now owns 2,876,365 shares of the company’s stock worth $45,188,000 after buying an additional 467,517 shares during the period. Dorsey Asset Management LLC grew its position in shares of Semrush by 6.8% in the 4th quarter. Dorsey Asset Management LLC now owns 2,258,481 shares of the company’s stock valued at $26,831,000 after buying an additional 144,534 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Semrush by 12.4% in the third quarter. Wellington Management Group LLP now owns 1,529,624 shares of the company’s stock valued at $24,030,000 after buying an additional 168,400 shares during the period. Finally, Millennium Management LLC raised its position in shares of Semrush by 153.8% during the fourth quarter. Millennium Management LLC now owns 1,246,109 shares of the company’s stock worth $14,804,000 after acquiring an additional 755,220 shares during the last quarter. 32.86% of the stock is owned by institutional investors and hedge funds.

About Semrush

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.