Connor Clark & Lunn Investment Management Ltd. Acquires 238,428 Shares of Similarweb Ltd. (NYSE:SMWB)

Connor Clark & Lunn Investment Management Ltd. lifted its stake in Similarweb Ltd. (NYSE:SMWB) by 112.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 449,896 shares of the company’s stock after purchasing an additional 238,428 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.56% of Similarweb worth $3,977,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Scalar Gauge Management LLC boosted its holdings in Similarweb by 56.8% during the second quarter. Scalar Gauge Management LLC now owns 593,923 shares of the company’s stock worth $4,615,000 after buying an additional 215,221 shares during the last quarter. Acadian Asset Management LLC boosted its stake in Similarweb by 60.8% during the 2nd quarter. Acadian Asset Management LLC now owns 442,917 shares of the company’s stock worth $3,427,000 after acquiring an additional 167,500 shares during the last quarter. P.A.W. Capital Corp bought a new position in Similarweb during the 3rd quarter worth approximately $3,536,000. Ceera Investments LLC grew its holdings in Similarweb by 38.3% during the second quarter. Ceera Investments LLC now owns 259,827 shares of the company’s stock valued at $2,019,000 after purchasing an additional 71,994 shares during the period. Finally, Renaissance Technologies LLC increased its stake in Similarweb by 4.3% in the second quarter. Renaissance Technologies LLC now owns 110,600 shares of the company’s stock valued at $859,000 after purchasing an additional 4,599 shares in the last quarter. 57.59% of the stock is owned by institutional investors and hedge funds.

Similarweb Stock Performance

Shares of Similarweb stock opened at $12.57 on Friday. Similarweb Ltd. has a 52-week low of $4.58 and a 52-week high of $12.89. The business’s 50 day simple moving average is $9.38 and its 200 day simple moving average is $8.32. The firm has a market cap of $1.02 billion, a PE ratio of -114.27 and a beta of 0.84.

Analysts Set New Price Targets

SMWB has been the subject of several research analyst reports. Barclays boosted their price target on shares of Similarweb from $9.00 to $10.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. William Blair restated an “outperform” rating on shares of Similarweb in a report on Monday, September 9th. Needham & Company LLC lifted their price objective on Similarweb from $11.00 to $14.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $10.00 price objective on shares of Similarweb in a research report on Wednesday, August 7th. Finally, JMP Securities raised their target price on shares of Similarweb from $16.00 to $17.00 and gave the stock a “market outperform” rating in a report on Thursday, November 14th. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $12.86.

Similarweb 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.