Semrush (NASDAQ:SEMR) Shares Gap Up – Still a Buy?

Shares of Semrush Holdings, Inc. (NASDAQ:SEMR) gapped up prior to trading on Wednesday . The stock had previously closed at $6.76, but opened at $11.79. Semrush shares last traded at $11.8150, with a volume of 24,959,877 shares traded.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on SEMR shares. Morgan Stanley set a $9.00 target price on shares of Semrush and gave the company an “equal weight” rating in a research note on Tuesday, August 5th. KeyCorp reaffirmed a “sector weight” rating on shares of Semrush in a report on Wednesday. Needham & Company LLC reiterated a “hold” rating on shares of Semrush in a research report on Wednesday. The Goldman Sachs Group lowered their target price on Semrush from $12.00 to $9.00 and set a “neutral” rating on the stock in a report on Wednesday, August 6th. Finally, Jefferies Financial Group restated a “hold” rating and set a $12.00 price target (up from $10.00) on shares of Semrush in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $12.00.

Semrush Stock Up 0.0%

The company has a fifty day simple moving average of $7.52 and a 200-day simple moving average of $8.48. The firm has a market cap of $1.75 billion, a P/E ratio of 147.21 and a beta of 1.60.

Insider Activity

In related news, CMO Andrew Warden sold 7,000 shares of the stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $7.77, for a total value of $54,390.00. Following the completion of the sale, the chief marketing officer directly owned 366,917 shares of the company’s stock, valued at approximately $2,850,945.09. This represents a 1.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 55.61% of the company’s stock.

Institutional Trading of Semrush

A number of hedge funds and other institutional investors have recently modified their holdings of SEMR. Jacobs Levy Equity Management Inc. raised its position in shares of Semrush by 55.5% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 287,647 shares of the company’s stock valued at $2,037,000 after purchasing an additional 102,623 shares during the period. Voleon Capital Management LP purchased a new stake in Semrush in the 3rd quarter worth $2,067,000. Verition Fund Management LLC increased its stake in Semrush by 364.8% in the 3rd quarter. Verition Fund Management LLC now owns 310,170 shares of the company’s stock worth $2,196,000 after buying an additional 243,440 shares in the last quarter. Polymer Capital Management US LLC raised its holdings in Semrush by 17.8% during the third quarter. Polymer Capital Management US LLC now owns 14,927 shares of the company’s stock valued at $106,000 after acquiring an additional 2,255 shares during the period. Finally, Numerai GP LLC lifted its position in shares of Semrush by 983.5% in the third quarter. Numerai GP LLC now owns 369,251 shares of the company’s stock valued at $2,614,000 after acquiring an additional 335,172 shares in the last quarter. 32.86% of the stock is owned by hedge funds and other institutional investors.

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.