Algert Global LLC Grows Position in Semrush Holdings, Inc. (NASDAQ:SEMR)

Algert Global LLC increased its position in Semrush Holdings, Inc. (NASDAQ:SEMR) by 94.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 165,552 shares of the company’s stock after buying an additional 80,621 shares during the quarter. Algert Global LLC owned 0.11% of Semrush worth $2,601,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. purchased a new stake in Semrush in the 2nd quarter worth approximately $123,000. Summit Global Investments bought a new position in shares of Semrush during the second quarter valued at approximately $156,000. Olympiad Research LP purchased a new stake in Semrush in the third quarter worth $159,000. Versor Investments LP bought a new stake in Semrush in the second quarter valued at $174,000. Finally, The Manufacturers Life Insurance Company increased its position in Semrush by 28.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,777 shares of the company’s stock valued at $225,000 after purchasing an additional 3,706 shares during the period. 32.86% of the stock is currently owned by institutional investors.

Semrush Stock Performance

Shares of SEMR opened at $13.84 on Wednesday. Semrush Holdings, Inc. has a fifty-two week low of $9.64 and a fifty-two week high of $16.42. The firm’s 50-day simple moving average is $13.90 and its two-hundred day simple moving average is $14.06. The stock has a market cap of $2.03 billion, a PE ratio of 173.02 and a beta of 1.62.

Insider Buying and Selling

In other news, President Eugenie Levin sold 3,788 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $14.12, for a total transaction of $53,486.56. Following the sale, the president now owns 601,892 shares in the company, valued at $8,498,715.04. This represents a 0.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Vitalii Obishchenko sold 55,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $13.43, for a total transaction of $738,650.00. Following the completion of the transaction, the chief operating officer now owns 848,923 shares of the company’s stock, valued at approximately $11,401,035.89. The trade was a 6.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 164,123 shares of company stock worth $2,320,088 in the last 90 days. Insiders own 57.83% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. KeyCorp raised their target price on shares of Semrush from $19.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Needham & Company LLC restated a “buy” rating and issued a $18.00 price objective on shares of Semrush in a report on Monday, November 11th. JPMorgan Chase & Co. upped their target price on Semrush from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Finally, The Goldman Sachs Group increased their target price on Semrush from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Monday, October 7th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $16.50.

Semrush Company Profile

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.