Insider Selling: Similarweb (NYSE:SMWB) CEO Sells $477,152.00 in Stock

Similarweb Ltd. (NYSE:SMWB) CEO Or Offer sold 59,200 shares of the firm’s stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $8.06, for a total transaction of $477,152.00. Following the completion of the transaction, the chief executive officer owned 4,392,091 shares of the company’s stock, valued at $35,400,253.46. This trade represents a 1.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, September 14th, Or Offer sold 52,900 shares of Similarweb stock. The shares were sold at an average price of $8.54, for a total transaction of $451,766.00.
• On Tuesday, September 15th, Or Offer sold 26,691 shares of Similarweb stock. The stock was sold at an average price of $8.53, for a total transaction of $227,674.23.
• On Friday, September 11th, Or Offer sold 59,000 shares of Similarweb stock. The stock was sold at an average price of $8.05, for a total transaction of $474,950.00.
• 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 shares were 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 shares were 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 stock was 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 stock was sold at an average price of $8.87, for a total value of $1,197,379.04.

Similarweb Stock Performance

NYSE:SMWB opened at $8.33 on Thursday. Similarweb Ltd. has a 52-week low of $2.22 and a 52-week high of $10.19. The stock has a fifty day moving average of $7.85 and a 200 day moving average of $5.09. The firm has a market capitalization of $729.71 million, a price-to-earnings ratio of -33.32 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 for the quarter. Similarweb had a negative return on equity of 19.81% and a negative net margin of 7.37%.The business had revenue of $77.19 million for the quarter.

Institutional Investors Weigh In On Similarweb

A number of institutional investors have recently made changes to their positions in SMWB. Wellington Management Group LLP grew its holdings in shares of Similarweb by 22.2% during the 2nd quarter. Wellington Management Group LLP now owns 3,624,685 shares of the company’s stock valued at $22,219,000 after purchasing an additional 657,928 shares during the last quarter. S Squared Technology LLC lifted its stake in Similarweb by 12.9% in the fourth quarter. S Squared Technology LLC now owns 775,161 shares of the company’s stock worth $5,806,000 after purchasing an additional 88,489 shares during the last quarter. Royce & Associates LP boosted its position in Similarweb by 8.7% during the fourth quarter. Royce & Associates LP now owns 537,406 shares of the company’s stock valued at $4,025,000 after buying an additional 43,078 shares during the period. UBS Group AG boosted its position in Similarweb by 71.4% during the fourth quarter. UBS Group AG now owns 536,549 shares of the company’s stock valued at $4,019,000 after buying an additional 223,562 shares during the period. Finally, Renaissance Technologies LLC grew its stake in shares of Similarweb by 104.6% during the first quarter. Renaissance Technologies LLC now owns 739,673 shares of the company’s stock valued at $1,931,000 after buying an additional 378,200 shares during the last quarter. Hedge funds and other institutional investors own 57.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Similarweb in a research note on Wednesday, August 12th. Needham & Company LLC raised shares of Similarweb from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a report on Wednesday. Citigroup raised their price objective on shares of Similarweb from $7.00 to $9.00 and gave the company a “neutral” rating in a research report on Thursday, August 13th. Oppenheimer lifted their price objective on shares of Similarweb from $7.00 to $8.50 and gave the stock an “outperform” rating in a report on Wednesday, August 5th. Finally, Wall Street Zen lowered shares of Similarweb from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 12th. Five investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $9.71.

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.