Semrush (NASDAQ:SEMR) Price Target Lowered to $16.00 at KeyCorp

Semrush (NASDAQ:SEMR) had its price objective reduced by KeyCorp from $18.00 to $16.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other research firms have also recently issued reports on SEMR. Needham & Company LLC reaffirmed a “buy” rating and issued a $18.00 price target on shares of Semrush in a report on Wednesday, January 15th. The Goldman Sachs Group reduced their price target on shares of Semrush from $14.00 to $12.00 and set a “neutral” rating on the stock in a research report on Friday, March 28th. Northland Securities began coverage on Semrush in a report on Tuesday, January 14th. They issued an “outperform” rating and a $18.00 price objective for the company. Jefferies Financial Group increased their target price on Semrush from $17.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Finally, Morgan Stanley lowered their price target on Semrush from $19.00 to $13.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $16.43.

Semrush Stock Up 5.1 %

SEMR stock opened at $10.51 on Thursday. The stock’s 50 day moving average is $9.63 and its two-hundred day moving average is $12.66. Semrush has a 52-week low of $7.90 and a 52-week high of $18.74. The company has a market capitalization of $1.55 billion, a PE ratio of 131.39 and a beta of 1.79.

Insider Buying and Selling

In other Semrush news, CMO Andrew Warden sold 17,118 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $11.20, for a total value of $191,721.60. Following the sale, the chief marketing officer now directly owns 404,992 shares in the company, valued at approximately $4,535,910.40. This trade represents a 4.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Brian Mulroy sold 22,547 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $11.20, for a total transaction of $252,526.40. Following the transaction, the chief financial officer now owns 698,558 shares of the company’s stock, valued at $7,823,849.60. This represents a 3.13 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 158,406 shares of company stock valued at $1,722,014. Insiders own 57.83% of the company’s stock.

Hedge Funds Weigh In On Semrush

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Comerica Bank increased its position in Semrush by 14.6% in the 4th quarter. Comerica Bank now owns 6,304 shares of the company’s stock valued at $75,000 after acquiring an additional 801 shares during the period. D. E. Shaw & Co. Inc. increased its holdings in shares of Semrush by 3.4% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 25,128 shares of the company’s stock valued at $299,000 after purchasing an additional 830 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Semrush by 4.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,772 shares of the company’s stock worth $247,000 after purchasing an additional 912 shares during the period. Magnetar Financial LLC lifted its holdings in Semrush by 6.3% in the fourth quarter. Magnetar Financial LLC now owns 15,653 shares of the company’s stock worth $186,000 after purchasing an additional 933 shares during the period. Finally, Arizona State Retirement System grew its position in Semrush by 15.6% in the 1st quarter. Arizona State Retirement System now owns 12,411 shares of the company’s stock valued at $116,000 after buying an additional 1,671 shares in the last quarter. 32.86% of the stock is currently owned by institutional investors and hedge funds.

About Semrush

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.