Semrush (NASDAQ:SEMR) Trading Up 9.2% – Should You Buy?

Semrush Holdings, Inc. (NASDAQ:SEMR)’s share price rose 9.2% during mid-day trading on Wednesday . The company traded as high as $14.56 and last traded at $14.56. Approximately 253,473 shares were traded during trading, a decline of 53% from the average daily volume of 542,492 shares. The stock had previously closed at $13.33.

Analysts Set New Price Targets

SEMR has been the subject of a number of analyst reports. Northland Capmk raised shares of Semrush to a “strong-buy” rating in a research note on Tuesday. The Goldman Sachs Group boosted their target price on shares of Semrush from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday, October 7th. Needham & Company LLC reissued a “buy” rating and set a $18.00 target price on shares of Semrush in a research note on Wednesday. Morgan Stanley raised shares of Semrush from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $17.00 to $20.00 in a research note on Monday. Finally, KeyCorp boosted their target price on shares of 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, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $17.13.

Semrush Trading Up 9.8 %

The company has a market capitalization of $2.15 billion, a P/E ratio of 182.90 and a beta of 1.62. The business’s 50-day simple moving average is $13.13 and its 200 day simple moving average is $13.57.

Insider Buying and Selling

In other news, COO Vitalii Obishchenko sold 5,293 shares of Semrush stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $11.73, for a total value of $62,086.89. Following the transaction, the chief operating officer now directly owns 838,659 shares of the company’s stock, valued at $9,837,470.07. This trade represents a 0.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Brian Mulroy sold 3,015 shares of Semrush stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $12.40, for a total transaction of $37,386.00. Following the completion of the transaction, the chief financial officer now directly owns 430,196 shares in the company, valued at approximately $5,334,430.40. This trade represents a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 263,711 shares of company stock worth $3,332,605 in the last ninety days. 57.83% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Verition Fund Management LLC increased its position in shares of Semrush by 278.9% in the third quarter. Verition Fund Management LLC now owns 134,531 shares of the company’s stock worth $2,113,000 after acquiring an additional 99,021 shares in the last quarter. Barclays PLC grew its position in Semrush by 115.2% during the third quarter. Barclays PLC now owns 102,407 shares of the company’s stock valued at $1,609,000 after purchasing an additional 54,830 shares in the last quarter. VELA Investment Management LLC purchased a new position in Semrush during the third quarter valued at approximately $701,000. Renaissance Technologies LLC purchased a new position in Semrush during the second quarter valued at approximately $3,732,000. Finally, Cubist Systematic Strategies LLC purchased a new position in Semrush during the second quarter valued at approximately $3,006,000. 32.86% of the stock is owned by hedge funds and other institutional investors.

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.