Similarweb Ltd. (NYSE:SMWB) Shares Purchased by State Street Corp

State Street Corp grew its holdings in Similarweb Ltd. (NYSE:SMWB) by 32.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 187,919 shares of the company’s stock after buying an additional 46,102 shares during the quarter. State Street Corp’s holdings in Similarweb were worth $1,661,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Centiva Capital LP purchased a new stake in shares of Similarweb during the 3rd quarter worth approximately $212,000. Atom Investors LP lifted its holdings in shares of Similarweb by 41.1% in the third quarter. Atom Investors LP now owns 143,942 shares of the company’s stock valued at $1,272,000 after purchasing an additional 41,935 shares in the last quarter. Scalar Gauge Management LLC grew its position in shares of Similarweb by 45.5% in the third quarter. Scalar Gauge Management LLC now owns 863,923 shares of the company’s stock valued at $7,637,000 after purchasing an additional 270,000 shares during the last quarter. Verition Fund Management LLC purchased a new position in shares of Similarweb during the 3rd quarter worth approximately $160,000. Finally, Walleye Capital LLC increased its position in Similarweb by 115.9% during the third quarter. Walleye Capital LLC now owns 354,653 shares of the company’s stock worth $3,135,000 after buying an additional 190,380 shares in the last quarter. 57.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SMWB has been the topic of a number of recent research reports. Needham & Company LLC restated a “buy” rating and issued a $14.00 target price on shares of Similarweb in a report on Wednesday, December 11th. JMP Securities reissued a “market outperform” rating and issued a $17.00 price target on shares of Similarweb in a research note on Wednesday, December 11th. Citigroup upped their price target on shares of Similarweb from $10.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Northland Capmk upgraded Similarweb to a “strong-buy” rating in a report on Tuesday, September 10th. Finally, William Blair reaffirmed an “outperform” rating on shares of Similarweb in a research report on Thursday, December 19th. Nine research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $13.50.

Similarweb Price Performance

Shares of Similarweb stock opened at $14.17 on Thursday. Similarweb Ltd. has a 1-year low of $5.07 and a 1-year high of $14.84. The business has a 50-day moving average of $11.87 and a 200-day moving average of $9.39. The company has a market capitalization of $1.15 billion, a PE ratio of -128.82 and a beta of 1.03.

About Similarweb

Similarweb Ltd. provides cloud-based digital intelligence solutions in the United States, Europe, the Asia Pacific, the United Kingdom, Israel, and internationally. The company offers digital research intelligence solutions for its customers to benchmark performance against competitors and market leaders, analyze trends in the market, conduct deeper research into specific companies, and analyze audience behavior; and digital marketing intelligence solutions for its customers to understand their competitors' online acquisition strategies in each marketing channel, and optimize their own strategies.