Alliancebernstein L.P. Increases Position in Semrush Holdings, Inc. (NASDAQ:SEMR)

Alliancebernstein L.P. raised its position in shares of Semrush Holdings, Inc. (NASDAQ:SEMR) by 356.3% during the fourth quarter, HoldingsChannel reports. The firm owned 149,421 shares of the company’s stock after purchasing an additional 116,672 shares during the period. Alliancebernstein L.P.’s holdings in Semrush were worth $1,775,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership lifted its position in Semrush by 122.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 984,544 shares of the company’s stock worth $11,696,000 after buying an additional 541,899 shares during the last quarter. EntryPoint Capital LLC purchased a new stake in shares of Semrush in the 4th quarter valued at $230,000. Cannon Global Investment Management LLC bought a new position in shares of Semrush during the 4th quarter valued at $353,000. Vanguard Group Inc. increased its holdings in shares of Semrush by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 5,177,228 shares of the company’s stock worth $61,505,000 after buying an additional 113,222 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new position in Semrush in the 4th quarter worth approximately $71,000. Institutional investors own 32.86% of the company’s stock.

Insider Activity

In related news, President Eugenie Levin sold 28,800 shares of Semrush stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $16.29, for a total transaction of $469,152.00. Following the completion of the transaction, the president now directly owns 508,549 shares of the company’s stock, valued at $8,284,263.21. This trade represents a 5.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Brian Mulroy sold 4,207 shares of the company’s stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $8.61, for a total transaction of $36,222.27. Following the completion of the sale, the chief financial officer now owns 694,351 shares in the company, valued at approximately $5,978,362.11. This trade represents a 0.60 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 199,174 shares of company stock worth $2,431,563. Corporate insiders own 57.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Northland Capmk raised shares of Semrush to a “strong-buy” rating in a research report on Tuesday, January 14th. Morgan Stanley dropped their target price on shares of Semrush from $19.00 to $13.00 and set an “overweight” rating for the company in a report on Wednesday. The Goldman Sachs Group reduced their price target on Semrush from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Friday, March 28th. Jefferies Financial Group increased their price objective on Semrush from $17.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Finally, Northland Securities started coverage on Semrush in a report on Tuesday, January 14th. They set an “outperform” rating and a $18.00 target price for the company. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $17.14.

Semrush Stock Up 1.0 %

NASDAQ SEMR opened at $8.98 on Friday. The stock’s 50 day moving average is $11.39 and its 200 day moving average is $13.06. The firm has a market capitalization of $1.32 billion, a PE ratio of 112.25 and a beta of 1.80. Semrush Holdings, Inc. has a twelve month low of $7.90 and a twelve month high of $18.74.

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.