Similarweb (NYSE:SMWB) CEO Sells 59,000 Shares of Stock

Similarweb Ltd. (NYSE:SMWB) CEO Or Offer sold 59,000 shares of the company’s stock in a transaction on Friday, September 11th. The stock was sold at an average price of $8.05, for a total value of $474,950.00. Following the sale, the chief executive officer owned 4,333,091 shares of the company’s stock, valued at $34,881,382.55. This trade represents a 1.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Or Offer also recently made the following trade(s):

• On Thursday, September 10th, Or Offer sold 59,200 shares of Similarweb stock. The shares were sold at an average price of $8.06, for a total transaction of $477,152.00.
• On Wednesday, September 9th, Or Offer sold 86,300 shares of Similarweb stock. The shares were sold at an average price of $8.06, for a total transaction of $695,578.00.
• On Tuesday, September 8th, Or Offer sold 60,700 shares of Similarweb stock. The stock was sold at an average price of $8.33, for a total transaction of $505,631.00.
• On Wednesday, August 26th, Or Offer sold 383,127 shares of Similarweb stock. The stock was sold at an average price of $9.00, for a total transaction of $3,448,143.00.
• On Thursday, August 13th, Or Offer sold 574,605 shares of Similarweb stock. The shares were sold at an average price of $8.80, for a total transaction of $5,056,524.00.
• On Friday, August 14th, Or Offer sold 134,992 shares of Similarweb stock. The shares were sold at an average price of $8.87, for a total transaction of $1,197,379.04.

Similarweb Trading Up 5.2%

Shares of SMWB stock traded up $0.42 during trading hours on Monday, reaching $8.49. 100,648 shares of the company’s stock were exchanged, compared to its average volume of 885,768. Similarweb Ltd. has a fifty-two week low of $2.22 and a fifty-two week high of $10.26. The stock’s 50 day moving average is $7.72 and its 200-day moving average is $4.97. The company has a market cap of $743.99 million, a price-to-earnings ratio of -33.97 and a beta of 1.21.

Similarweb (NYSE:SMWB) last announced its earnings results on Wednesday, August 12th. The company reported $0.06 earnings per share (EPS) for the quarter. The company had revenue of $77.19 million for the quarter. Similarweb had a negative return on equity of 19.81% and a negative net margin of 7.37%.

Hedge Funds Weigh In On Similarweb

Several hedge funds and other institutional investors have recently made changes to their positions in SMWB. Integrated Wealth Concepts LLC acquired a new position in Similarweb in the 2nd quarter valued at $92,000. Wellington Management Group LLP grew its holdings in Similarweb by 22.2% in the 2nd quarter. Wellington Management Group LLP now owns 3,624,685 shares of the company’s stock valued at $22,219,000 after buying an additional 657,928 shares in the last quarter. Militia Capital Management LLC acquired a new stake in shares of Similarweb in the 1st quarter worth $616,000. Lavelle Capital LP purchased a new position in shares of Similarweb during the 1st quarter worth $529,000. Finally, Bank of America Corp DE boosted its position in shares of Similarweb by 475.3% during the 1st quarter. Bank of America Corp DE now owns 63,985 shares of the company’s stock valued at $167,000 after acquiring an additional 52,863 shares during the last quarter. Hedge funds and other institutional investors own 57.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Similarweb in a report on Wednesday, August 12th. Northland Securities upgraded Similarweb from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $5.00 to $10.00 in a research note on Wednesday, August 12th. Barclays upped their target price on Similarweb from $5.00 to $11.00 and gave the company an “overweight” rating in a research report on Thursday, August 13th. Citigroup upped their price objective on shares of Similarweb from $7.00 to $9.00 and gave the company a “neutral” rating in a report on Thursday, August 13th. Finally, Oppenheimer boosted their price objective on Similarweb from $7.00 to $8.50 and gave the company an “outperform” rating in a report on Wednesday, August 5th. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $10.14.

About Similarweb

Similarweb Ltd. is a digital intelligence company that provides data and analytics about online activity. Its platform helps organizations analyze website and mobile application performance, understand audience behavior, evaluate competitors, and identify trends across digital markets.

The company’s products support a range of business functions, including marketing, sales, market research, search engine optimization, investor research and business development. Similarweb combines data from multiple sources to provide insights into web traffic, mobile app usage, customer engagement, acquisition channels and industry positioning.

Founded in 2007, Similarweb serves businesses, agencies, financial institutions and other organizations in markets around the world.