Principal Financial Group Inc. Invests $454,000 in Semrush Holdings, Inc. (NASDAQ:SEMR)

Principal Financial Group Inc. acquired a new stake in shares of Semrush Holdings, Inc. (NASDAQ:SEMR) in the third quarter, HoldingsChannel reports. The fund acquired 28,900 shares of the company’s stock, valued at approximately $454,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SEMR. Point72 Asset Management L.P. acquired a new stake in shares of Semrush during the 2nd quarter valued at about $123,000. Summit Global Investments acquired a new stake in Semrush in the second quarter valued at approximately $156,000. Olympiad Research LP bought a new stake in Semrush in the third quarter worth approximately $159,000. Versor Investments LP acquired a new position in shares of Semrush during the 2nd quarter worth $174,000. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of 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 purchasing an additional 3,706 shares in the last quarter. Hedge funds and other institutional investors own 32.86% of the company’s stock.

Semrush Stock Performance

Semrush stock opened at $14.17 on Monday. Semrush Holdings, Inc. has a 52 week low of $9.64 and a 52 week high of $16.42. The firm has a market capitalization of $2.08 billion, a PE ratio of 177.13 and a beta of 1.62. The business’s 50-day simple moving average is $13.89 and its 200-day simple moving average is $14.07.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Semrush

In other news, CFO Brian Mulroy sold 4,207 shares of the stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $13.12, for a total value of $55,195.84. Following the completion of the sale, the chief financial officer now directly owns 433,211 shares of the company’s stock, valued at approximately $5,683,728.32. This represents a 0.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Vitalii Obishchenko sold 4,971 shares of the business’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $14.97, for a total transaction of $74,415.87. Following the transaction, the chief operating officer now directly owns 843,952 shares in the company, valued at $12,633,961.44. This trade represents a 0.59 % decrease in their position. 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 90 days. 57.83% of the stock is currently owned by insiders.

Semrush Company 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.