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

Y Intercept Hong Kong Ltd bought a new position in shares of Semrush Holdings, Inc. (NASDAQ:SEMR) in the 3rd quarter, Holdings Channel reports. 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 recently added to or reduced their stakes in the business. FMR LLC lifted its stake in Semrush by 19.4% during the third quarter. FMR LLC now owns 2,876,365 shares of the company’s stock worth $45,188,000 after purchasing an additional 467,517 shares during the last quarter. Wellington Management Group LLP lifted its stake in Semrush by 12.4% during the third quarter. Wellington Management Group LLP now owns 1,529,624 shares of the company’s stock worth $24,030,000 after purchasing an additional 168,400 shares during the last quarter. State Street Corp lifted its stake in Semrush by 1.4% during the third quarter. State Street Corp now owns 954,409 shares of the company’s stock worth $14,994,000 after purchasing an additional 13,374 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Semrush by 69.5% during the second quarter. Dimensional Fund Advisors LP now owns 532,702 shares of the company’s stock worth $7,132,000 after purchasing an additional 218,488 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Semrush by 12.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 301,405 shares of the company’s stock worth $4,735,000 after purchasing an additional 33,950 shares during the last quarter. 32.86% of the stock is currently owned by institutional investors.

Semrush Stock Down 3.8 %

Shares of NASDAQ:SEMR opened at $13.30 on Friday. The firm has a market cap of $1.95 billion, a P/E ratio of 166.25 and a beta of 1.59. Semrush Holdings, Inc. has a 12-month low of $9.64 and a 12-month high of $16.42. The business has a fifty day simple moving average of $13.58 and a 200 day simple moving average of $13.88.

Insider Buying and Selling

In other Semrush news, Director Dmitry Melnikov sold 64,140 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $14.59, for a total transaction of $935,802.60. Following the completion of the sale, the director now directly owns 9,227,898 shares in the company, valued at approximately $134,635,031.82. This trade represents a 0.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Brian Mulroy sold 4,207 shares of the stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $13.12, for a total value of $55,195.84. Following the sale, the chief financial officer now owns 433,211 shares of the company’s stock, valued at approximately $5,683,728.32. The trade was a 0.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 99,112 shares of company stock valued at $1,441,084 in the last three months. Insiders own 57.83% of the company’s stock.

Analysts Set New Price Targets

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

About Semrush

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.