Semrush (NASDAQ:SEMR) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Semrush Holdings, Inc. (NASDAQ:SEMR) saw an uptick in trading volume on Thursday . 4,323,682 shares traded hands during trading, an increase of 269% from the previous session’s volume of 1,172,271 shares.The stock last traded at $11.8050 and had previously closed at $11.76.

Analyst Ratings Changes

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

Semrush Price Performance

The stock has a market capitalization of $1.75 billion, a PE ratio of 147.33 and a beta of 1.60. The firm has a fifty day moving average price of $7.61 and a two-hundred day moving average price of $8.49.

Insider Buying and Selling at Semrush

In other news, CMO Andrew Warden sold 7,000 shares of the business’s stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $7.77, for a total transaction 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. The trade was a 1.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 55.61% of the company’s stock.

Institutional Investors Weigh In On Semrush

Large investors have recently added to or reduced their stakes in the stock. Nuveen LLC bought a new position in Semrush in the 1st quarter worth about $10,762,000. Bank of America Corp DE boosted its holdings in shares of Semrush by 871.8% in the second quarter. Bank of America Corp DE now owns 940,144 shares of the company’s stock valued at $8,508,000 after purchasing an additional 843,406 shares during the period. Balyasny Asset Management L.P. bought a new position in Semrush in the second quarter worth approximately $6,926,000. Topline Capital Management LLC purchased a new position in Semrush during the 3rd quarter worth $3,923,000. Finally, Millennium Management LLC raised its position in Semrush by 81.6% during the 3rd quarter. Millennium Management LLC now owns 1,023,761 shares of the company’s stock valued at $7,248,000 after purchasing an additional 459,973 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.