Walleye Capital LLC Purchases 123,764 Shares of Similarweb Ltd. (NYSE:SMWB)

Walleye Capital LLC boosted its position in shares of Similarweb Ltd. (NYSE:SMWB) by 34.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 478,417 shares of the company’s stock after purchasing an additional 123,764 shares during the period. Walleye Capital LLC owned about 0.59% of Similarweb worth $6,779,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jennison Associates LLC bought a new position in shares of Similarweb in the fourth quarter valued at approximately $26,059,000. Victory Capital Management Inc. bought a new position in Similarweb in the 4th quarter valued at $6,090,000. Next Century Growth Investors LLC raised its position in Similarweb by 146.7% in the 4th quarter. Next Century Growth Investors LLC now owns 699,128 shares of the company’s stock valued at $9,907,000 after purchasing an additional 415,792 shares during the last quarter. Telemark Asset Management LLC acquired a new position in Similarweb in the fourth quarter worth $4,251,000. Finally, Scalar Gauge Management LLC grew its holdings in shares of Similarweb by 29.2% during the fourth quarter. Scalar Gauge Management LLC now owns 1,115,778 shares of the company’s stock worth $15,811,000 after purchasing an additional 251,855 shares during the last quarter. 57.59% of the stock is currently owned by institutional investors and hedge funds.

Similarweb Stock Performance

SMWB opened at $6.95 on Wednesday. The firm’s fifty day moving average is $9.30 and its two-hundred day moving average is $11.33. The firm has a market cap of $574.53 million, a PE ratio of -49.67 and a beta of 1.12. Similarweb Ltd. has a twelve month low of $5.71 and a twelve month high of $17.64.

Similarweb (NYSE:SMWB) last issued its quarterly earnings data on Tuesday, February 11th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.10). Similarweb had a negative return on equity of 47.62% and a negative net margin of 4.58%. Equities analysts forecast that Similarweb Ltd. will post -0.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SMWB. Northland Securities lifted their price target on Similarweb from $17.00 to $20.00 and gave the company an “outperform” rating in a report on Friday, January 24th. Citigroup upped their target price on shares of Similarweb from $14.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. JMP Securities reissued a “market outperform” rating and issued a $17.00 price target on shares of Similarweb in a report on Thursday, February 13th. Needham & Company LLC restated a “buy” rating and issued a $14.00 price objective on shares of Similarweb in a research report on Thursday, February 13th. Finally, Jefferies Financial Group increased their price objective on Similarweb from $13.00 to $23.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $16.13.

Similarweb Company 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.