ARK Investment Management LLC Has $1.82 Million Holdings in Similarweb Ltd. (NYSE:SMWB)

ARK Investment Management LLC increased its stake in shares of Similarweb Ltd. (NYSE:SMWB) by 9.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 340,739 shares of the company’s stock after acquiring an additional 30,543 shares during the period. ARK Investment Management LLC’s holdings in Similarweb were worth $1,816,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Legal & General Group Plc increased its holdings in Similarweb by 64.8% during the 4th quarter. Legal & General Group Plc now owns 4,171 shares of the company’s stock worth $27,000 after purchasing an additional 1,640 shares in the last quarter. ANTIPODES PARTNERS Ltd bought a new position in shares of Similarweb during the third quarter worth about $27,000. Tower Research Capital LLC TRC acquired a new stake in Similarweb in the 3rd quarter valued at approximately $31,000. Barclays PLC lifted its stake in Similarweb by 737.4% in the 3rd quarter. Barclays PLC now owns 4,966 shares of the company’s stock valued at $32,000 after acquiring an additional 4,373 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new position in Similarweb during the 4th quarter worth approximately $47,000. 57.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Barclays lifted their price objective on shares of Similarweb from $8.00 to $9.00 and gave the company an “overweight” rating in a report on Thursday, February 15th. William Blair reissued an “outperform” rating on shares of Similarweb in a research report on Tuesday, March 5th. JMP Securities restated a “market outperform” rating and issued a $14.00 price objective on shares of Similarweb in a report on Friday, March 15th. Jefferies Financial Group reiterated a “buy” rating and set a $10.00 target price on shares of Similarweb in a report on Wednesday, February 7th. Finally, Citigroup raised Similarweb from a “neutral” rating to a “buy” rating and increased their price target for the company from $6.00 to $10.00 in a research report on Thursday, February 15th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, Similarweb has an average rating of “Buy” and an average target price of $10.60.

Similarweb Price Performance

Shares of NYSE SMWB opened at $8.99 on Thursday. Similarweb Ltd. has a twelve month low of $4.58 and a twelve month high of $9.76. The business’s 50 day moving average price is $7.79 and its two-hundred day moving average price is $6.19.

Similarweb (NYSE:SMWB) last posted its quarterly earnings results on Tuesday, February 13th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. Similarweb had a negative return on equity of 203.38% and a negative net margin of 13.47%. The business had revenue of $56.76 million for the quarter, compared to analysts’ expectations of $55.90 million. As a group, equities research analysts expect that Similarweb Ltd. will post -0.2 EPS for the current fiscal year.

About Similarweb

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.