Semrush (NASDAQ:SEMR) Director Dmitry Melnikov Sells 1,408 Shares

Semrush Holdings, Inc. (NASDAQ:SEMR) Director Dmitry Melnikov sold 1,408 shares of the company’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $7.15, for a total transaction of $10,067.20. Following the completion of the sale, the director directly owned 1,281,956 shares in the company, valued at approximately $9,165,985.40. This represents a 0.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Semrush Stock Performance

Shares of SEMR stock opened at $7.34 on Friday. Semrush Holdings, Inc. has a fifty-two week low of $6.97 and a fifty-two week high of $18.74. The stock has a 50 day simple moving average of $7.74 and a two-hundred day simple moving average of $8.93. The company has a market cap of $1.09 billion, a P/E ratio of 91.70 and a beta of 1.64.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Signaturefd LLC bought a new stake in Semrush in the 1st quarter valued at about $42,000. Amundi increased its stake in shares of Semrush by 29.3% in the first quarter. Amundi now owns 4,890 shares of the company’s stock worth $44,000 after purchasing an additional 1,108 shares in the last quarter. Canada Pension Plan Investment Board raised its position in shares of Semrush by 96.4% in the second quarter. Canada Pension Plan Investment Board now owns 5,500 shares of the company’s stock valued at $50,000 after purchasing an additional 2,700 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of Semrush by 56.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,284 shares of the company’s stock valued at $57,000 after buying an additional 2,259 shares in the last quarter. Finally, R Squared Ltd bought a new position in Semrush in the 2nd quarter worth approximately $93,000. Hedge funds and other institutional investors own 32.86% of the company’s stock.

Analyst Upgrades and Downgrades

SEMR has been the subject of a number of analyst reports. KeyCorp set a $12.00 price target on Semrush and gave the company an “overweight” rating in a research note on Tuesday, August 5th. The Goldman Sachs Group cut their target price on Semrush from $12.00 to $9.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 6th. Needham & Company LLC decreased their price target on Semrush from $18.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, August 5th. Finally, Morgan Stanley set a $9.00 price objective on Semrush and gave the company an “equal weight” rating in a research note on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $13.50.

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.