Bamco Inc. NY acquired a new stake in Similarweb Ltd. (NYSE:SMWB) during the second quarter, according to its most recent filing with the SEC. The firm acquired 517,962 shares of the company’s stock, valued at approximately $10,204,000. Bamco Inc. NY owned about 0.70% of Similarweb at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of SMWB. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Similarweb in the second quarter valued at $12,815,000. Teacher Retirement System of Texas acquired a new stake in Similarweb in the second quarter valued at $197,000. Alpha Family Trust acquired a new stake in Similarweb in the second quarter valued at $33,231,000. Citigroup Inc. acquired a new stake in Similarweb in the second quarter valued at $550,000. Finally, BlackRock Inc. acquired a new stake in Similarweb in the second quarter valued at $13,789,000. Hedge funds and other institutional investors own 19.87% of the company’s stock.
Similarweb stock opened at $19.74 on Monday. The stock’s 50-day moving average is $21.14. Similarweb Ltd. has a 52 week low of $17.81 and a 52 week high of $25.50.
Separately, Zacks Investment Research downgraded Similarweb from a “hold” rating to a “sell” rating in a research note on Tuesday, August 17th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $27.67.
Similarweb Company Profile
Similarweb Ltd. provides website traffic solutions through AI-driven data analytics worldwide. It offers digital research intelligence solutions that allow senior leaders, strategy, business intelligence, and consumer insights teams 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 solutions, which enable marketing leaders, search engine optimization, and content managers, pay-per-click, performance marketers, affiliate marketers, and media buyers to understand their competitors' online acquisition strategies in each marketing channel.
Further Reading: Mutual funds are not immune from market timing
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