38,707 Shares in Semrush Holdings, Inc. (NASDAQ:SEMR) Purchased by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd bought a new position in shares of Semrush Holdings, Inc. (NASDAQ:SEMR) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 38,707 shares of the company’s stock, valued at approximately $608,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. The Manufacturers Life Insurance Company raised its holdings in Semrush by 28.4% during the second quarter. The Manufacturers Life Insurance Company now owns 16,777 shares of the company’s stock worth $225,000 after acquiring an additional 3,706 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Semrush by 30.2% during the third quarter. The Manufacturers Life Insurance Company now owns 21,845 shares of the company’s stock worth $343,000 after acquiring an additional 5,068 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in Semrush in the second quarter valued at approximately $123,000. DRW Securities LLC bought a new stake in Semrush in the third quarter valued at approximately $157,000. Finally, Olympiad Research LP bought a new stake in Semrush in the third quarter valued at approximately $159,000. Institutional investors own 32.86% of the company’s stock.

Analysts Set New Price Targets

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

Insider Activity

In related news, Director Mark Vranesh sold 7,500 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $15.51, for a total transaction of $116,325.00. Following the sale, the director now owns 113,731 shares of the company’s stock, valued at $1,763,967.81. This represents a 6.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Dmitry Melnikov sold 64,140 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $14.59, for a total value of $935,802.60. Following the sale, the director now directly owns 9,227,898 shares in the company, valued at $134,635,031.82. This represents a 0.69 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 99,112 shares of company stock valued at $1,441,084. 57.83% of the stock is owned by insiders.

Semrush Trading Down 3.8 %

Semrush stock opened at $13.30 on Friday. Semrush Holdings, Inc. has a 12 month low of $9.64 and a 12 month high of $16.42. The stock’s 50 day moving average is $13.58 and its 200-day moving average is $13.88. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of 166.25 and a beta of 1.59.

Semrush 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.