Semrush (NASDAQ:SEMR) Shares Down 5.6% Following Insider Selling

Shares of Semrush Holdings, Inc. (NASDAQ:SEMR) traded down 5.6% on Wednesday after an insider sold shares in the company. The stock traded as low as $10.45 and last traded at $10.43. 314,915 shares were traded during trading, a decline of 59% from the average session volume of 768,101 shares. The stock had previously closed at $11.05.

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

Analysts Set New Price Targets

A number of research analysts have commented on SEMR shares. Needham & Company LLC reiterated a “buy” rating and set a $18.00 price target on shares of Semrush in a research note on Wednesday, January 15th. Northland Securities assumed coverage on Semrush in a research report on Tuesday, January 14th. They set an “outperform” rating and a $18.00 price objective for the company. Morgan Stanley raised Semrush from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $17.00 to $20.00 in a research report on Monday, January 13th. Jefferies Financial Group boosted their price objective on Semrush from $17.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Finally, Northland Capmk raised Semrush to a “strong-buy” rating in a research report on Tuesday, January 14th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $18.71.

Semrush Trading Down 1.6 %

The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of 126.95 and a beta of 1.77. The company has a 50 day moving average price of $14.88 and a 200 day moving average price of $14.10.

Institutional Trading of Semrush

Institutional investors have recently modified their holdings of the company. US Bancorp DE lifted its holdings in shares of Semrush by 2,127.2% in the fourth quarter. US Bancorp DE now owns 3,608 shares of the company’s stock valued at $43,000 after purchasing an additional 3,446 shares in the last quarter. Quarry LP increased its position in shares of Semrush by 504.8% in the fourth quarter. Quarry LP now owns 4,300 shares of the company’s stock valued at $51,000 after acquiring an additional 3,589 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Semrush in the fourth quarter valued at about $71,000. Comerica Bank increased its position in shares of Semrush by 14.6% in the fourth quarter. Comerica Bank now owns 6,304 shares of the company’s stock valued at $75,000 after acquiring an additional 801 shares during the last quarter. Finally, Aquatic Capital Management LLC bought a new stake in Semrush in the fourth quarter valued at approximately $86,000. 32.86% of the stock is currently owned by institutional investors.

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.