ARK Investment Management LLC Increases Holdings in Similarweb Ltd. (NYSE:SMWB)

ARK Investment Management LLC increased its stake in Similarweb Ltd. (NYSE:SMWB) by 9.8% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 340,739 shares of the company’s stock after buying an additional 30,543 shares during the quarter. ARK Investment Management LLC’s holdings in Similarweb were worth $1,816,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. ANTIPODES PARTNERS Ltd bought a new stake in Similarweb in the third quarter worth about $27,000. Legal & General Group Plc increased its stake in shares of Similarweb by 64.8% during the 4th quarter. Legal & General Group Plc now owns 4,171 shares of the company’s stock worth $27,000 after purchasing an additional 1,640 shares during the last quarter. Tower Research Capital LLC TRC purchased a new stake in shares of Similarweb during the 3rd quarter worth approximately $31,000. Barclays PLC raised its holdings in shares of Similarweb by 737.4% in the 3rd quarter. Barclays PLC now owns 4,966 shares of the company’s stock worth $32,000 after purchasing an additional 4,373 shares during the period. Finally, Lazard Asset Management LLC purchased a new position in Similarweb in the fourth quarter valued at approximately $47,000. 57.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on SMWB shares. Barclays raised their target price on Similarweb from $8.00 to $9.00 and gave the stock an “overweight” rating in a research report on Thursday, February 15th. Jefferies Financial Group reissued a “buy” rating and issued a $10.00 price objective on shares of Similarweb in a report on Wednesday, February 7th. JMP Securities reaffirmed a “market outperform” rating and set a $14.00 price objective on shares of Similarweb in a report on Friday, March 15th. William Blair reiterated an “outperform” rating on shares of Similarweb in a research note on Tuesday, March 5th. Finally, Citigroup raised shares of Similarweb from a “neutral” rating to a “buy” rating and boosted their price target for the company from $6.00 to $10.00 in a research report on Thursday, February 15th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, Similarweb presently has a consensus rating of “Buy” and an average price target of $10.60.

Similarweb Trading Up 0.8 %

Shares of SMWB opened at $8.99 on Thursday. The stock has a 50-day moving average price of $7.79 and a 200-day moving average price of $6.19. Similarweb Ltd. has a 12-month low of $4.58 and a 12-month high of $9.76.

Similarweb (NYSE:SMWB) last released its quarterly earnings data on Tuesday, February 13th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.01. The firm had revenue of $56.76 million for the quarter, compared to the consensus estimate of $55.90 million. Similarweb had a negative return on equity of 203.38% and a negative net margin of 13.47%. As a group, research analysts expect that Similarweb Ltd. will post -0.2 earnings per share for the current year.

Similarweb Profile

Similarweb Ltd. provides cloud-based digital intelligence solutions in the United States, Europe, the Asia Pacific, the United Kingdom, Israel, and internationally. The company offers digital research intelligence solutions for its customers 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 intelligence solutions for its customers to understand their competitors' online acquisition strategies in each marketing channel, and optimize their own strategies.