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

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

Specifically, CMO Andrew Warden sold 17,118 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 value of $191,721.60. Following the completion of the sale, the chief marketing officer now directly 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider David W. Mason sold 9,127 shares of Semrush stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $11.14, for a total value of $101,674.78. Following the completion of the sale, the insider now directly owns 272,924 shares of the company’s stock, valued at $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 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 value of $252,526.40. Following the completion of the sale, the chief financial officer now directly owns 698,558 shares of the company’s stock, 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 this hyperlink.

Analysts Set New Price Targets

SEMR has been the subject of several analyst reports. Northland Securities initiated coverage on Semrush in a research note on Tuesday, January 14th. They set an “outperform” rating and a $18.00 target price for the company. Jefferies Financial Group boosted their target price on Semrush from $17.00 to $21.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Needham & Company LLC reissued a “buy” rating and set a $18.00 target price on shares of Semrush in a research note on Wednesday, January 15th. Northland Capmk raised Semrush to a “strong-buy” rating in a research note on Tuesday, January 14th. Finally, Morgan Stanley raised Semrush from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $17.00 to $20.00 in a research note on Monday, January 13th. One 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $18.71.

Semrush Trading Down 1.6 %

The company has a market capitalization of $1.49 billion, a PE ratio of 126.95 and a beta of 1.77. The stock has a fifty day simple moving average of $14.88 and a 200-day simple moving average of $14.10.

Institutional Trading of Semrush

Institutional investors have recently bought and sold shares of the business. US Bancorp DE lifted its holdings in Semrush by 2,127.2% during the 4th quarter. US Bancorp DE now owns 3,608 shares of the company’s stock worth $43,000 after buying an additional 3,446 shares during the last quarter. Quarry LP lifted its holdings in shares of Semrush by 504.8% in the 4th quarter. Quarry LP now owns 4,300 shares of the company’s stock valued at $51,000 after purchasing an additional 3,589 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Semrush in the 4th quarter valued at about $71,000. Comerica Bank lifted its holdings in shares of Semrush by 14.6% in the 4th quarter. Comerica Bank now owns 6,304 shares of the company’s stock valued at $75,000 after purchasing an additional 801 shares during the last quarter. Finally, Aquatic Capital Management LLC purchased a new stake in shares of Semrush in the 4th quarter valued at about $86,000. 32.86% of the stock is owned by hedge funds and other 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.