Legato Capital Management LLC Sells 23,780 Shares of Similarweb Ltd. (NYSE:SMWB)

Legato Capital Management LLC trimmed its holdings in shares of Similarweb Ltd. (NYSE:SMWB) by 23.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 79,207 shares of the company’s stock after selling 23,780 shares during the quarter. Legato Capital Management LLC owned 0.10% of Similarweb worth $1,122,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. P.A.W. Capital Corp acquired a new position in shares of Similarweb in the third quarter valued at approximately $3,536,000. State of New Jersey Common Pension Fund D acquired a new position in Similarweb in the 3rd quarter worth $122,000. Oppenheimer & Co. Inc. increased its holdings in Similarweb by 9.8% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 106,607 shares of the company’s stock worth $942,000 after purchasing an additional 9,555 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Similarweb by 112.7% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 449,896 shares of the company’s stock worth $3,977,000 after purchasing an additional 238,428 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of Similarweb in the 3rd quarter valued at about $75,000. 57.59% of the stock is currently owned by institutional investors and hedge funds.

Similarweb Price Performance

Shares of SMWB opened at $11.88 on Thursday. The firm has a 50-day moving average of $14.92 and a 200-day moving average of $11.21. Similarweb Ltd. has a one year low of $5.71 and a one year high of $17.64.

Similarweb (NYSE:SMWB) last announced its quarterly earnings results on Tuesday, February 11th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.10). Similarweb had a negative return on equity of 44.83% and a negative net margin of 3.92%. As a group, analysts expect that Similarweb Ltd. will post -0.05 EPS for the current year.

Analysts Set New Price Targets

SMWB has been the subject of several recent research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $14.00 price objective on shares of Similarweb in a research report on Thursday, January 16th. Citigroup raised their price target on shares of Similarweb from $14.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday. Jefferies Financial Group boosted their price objective on shares of Similarweb from $13.00 to $23.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. The Goldman Sachs Group assumed coverage on shares of Similarweb in a research report on Wednesday, December 11th. They issued a “buy” rating and a $16.00 target price for the company. Finally, William Blair reiterated an “outperform” rating on shares of Similarweb in a research note on Thursday, December 19th. Nine investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $16.50.

Similarweb Company Profile

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.