Semrush (NASDAQ:SEMR) Director Sells $10,067.20 in Stock

Semrush Holdings, Inc. (NASDAQ:SEMR) Director Dmitry Melnikov sold 1,408 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $7.15, for a total transaction of $10,067.20. Following the completion of the sale, the director directly owned 1,281,956 shares of the company’s stock, valued at $9,165,985.40. The trade was a 0.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Semrush Price Performance

NASDAQ SEMR opened at $7.34 on Friday. Semrush Holdings, Inc. has a 12 month low of $6.97 and a 12 month high of $18.74. The company has a market capitalization of $1.09 billion, a P/E ratio of 91.70 and a beta of 1.60. The company’s 50 day simple moving average is $7.74 and its 200 day simple moving average is $8.92.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Needham & Company LLC reduced their price objective on Semrush from $18.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, August 5th. The Goldman Sachs Group decreased their price target on Semrush from $12.00 to $9.00 and set a “neutral” rating for the company in a research report on Wednesday, August 6th. KeyCorp set a $12.00 price objective on Semrush and gave the stock an “overweight” rating in a report on Tuesday, August 5th. Finally, Morgan Stanley set a $9.00 target price on shares of Semrush and gave the stock an “equal weight” rating in a report on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $13.50.

Institutional Trading of Semrush

A number of hedge funds have recently modified their holdings of SEMR. Signaturefd LLC bought a new stake in shares of Semrush during the first quarter valued at approximately $42,000. Amundi lifted its position in Semrush by 29.3% in the first quarter. Amundi now owns 4,890 shares of the company’s stock worth $44,000 after purchasing an additional 1,108 shares during the period. Canada Pension Plan Investment Board boosted its stake in Semrush by 96.4% during the second quarter. Canada Pension Plan Investment Board now owns 5,500 shares of the company’s stock worth $50,000 after buying an additional 2,700 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in Semrush by 56.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,284 shares of the company’s stock valued at $57,000 after buying an additional 2,259 shares during the period. Finally, R Squared Ltd acquired a new position in shares of Semrush in the 2nd quarter valued at $93,000. Institutional investors own 32.86% of the company’s stock.

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.