Insider Selling: Similarweb (NYSE:SMWB) CEO Sells $474,950.00 in Stock

Similarweb Ltd. (NYSE:SMWB) CEO Or Offer sold 59,000 shares of the stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $8.05, for a total value of $474,950.00. Following the sale, the chief executive officer directly owned 4,333,091 shares in the company, valued at $34,881,382.55. This represents a 1.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Or Offer also recently made the following trade(s):

• On Monday, September 14th, Or Offer sold 52,900 shares of Similarweb stock. The shares were sold at an average price of $8.54, for a total value of $451,766.00.
• On Tuesday, September 15th, Or Offer sold 26,691 shares of Similarweb stock. The shares were sold at an average price of $8.53, for a total value of $227,674.23.
• On Thursday, September 10th, Or Offer sold 59,200 shares of Similarweb stock. The stock was sold at an average price of $8.06, for a total value of $477,152.00.
• On Wednesday, September 9th, Or Offer sold 86,300 shares of Similarweb stock. The shares were sold at an average price of $8.06, for a total value of $695,578.00.
• On Tuesday, September 8th, Or Offer sold 60,700 shares of Similarweb stock. The shares were sold at an average price of $8.33, for a total value of $505,631.00.
• On Wednesday, August 26th, Or Offer sold 383,127 shares of Similarweb stock. The shares were sold at an average price of $9.00, for a total value of $3,448,143.00.
• On Thursday, August 13th, Or Offer sold 574,605 shares of Similarweb stock. The stock was sold at an average price of $8.80, for a total value of $5,056,524.00.
• On Friday, August 14th, Or Offer sold 134,992 shares of Similarweb stock. The stock was sold at an average price of $8.87, for a total transaction of $1,197,379.04.

Similarweb Price Performance

NYSE:SMWB opened at $8.33 on Thursday. The company has a 50 day moving average price of $7.85 and a 200-day moving average price of $5.09. Similarweb Ltd. has a 1-year low of $2.22 and a 1-year high of $10.19. The firm has a market cap of $729.71 million, a price-to-earnings ratio of -33.32 and a beta of 1.21.

Similarweb (NYSE:SMWB) last announced its quarterly earnings results on Wednesday, August 12th. The company reported $0.06 earnings per share (EPS) for the quarter. Similarweb had a negative net margin of 7.37% and a negative return on equity of 19.81%. The firm had revenue of $77.19 million for the quarter.

Analyst Upgrades and Downgrades

SMWB has been the subject of several recent analyst reports. Needham & Company LLC upgraded Similarweb from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a research note on Wednesday. Oppenheimer increased their price target on Similarweb from $7.00 to $8.50 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. Barclays raised their price objective on Similarweb from $5.00 to $11.00 and gave the company an “overweight” rating in a report on Thursday, August 13th. Northland Securities raised Similarweb from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $5.00 to $10.00 in a research note on Wednesday, August 12th. Finally, Wall Street Zen lowered Similarweb from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 12th. Five analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $9.71.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Integrated Wealth Concepts LLC acquired a new stake in shares of Similarweb in the second quarter valued at approximately $92,000. Royce & Associates LP increased its stake in shares of Similarweb by 8.7% in the 4th quarter. Royce & Associates LP now owns 537,406 shares of the company’s stock worth $4,025,000 after acquiring an additional 43,078 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Similarweb by 475.3% during the 1st quarter. Bank of America Corp DE now owns 63,985 shares of the company’s stock worth $167,000 after acquiring an additional 52,863 shares during the period. S Squared Technology LLC raised its holdings in shares of Similarweb by 12.9% during the 4th quarter. S Squared Technology LLC now owns 775,161 shares of the company’s stock worth $5,806,000 after acquiring an additional 88,489 shares during the period. Finally, Nano Cap New Millennium Growth Fund L P acquired a new position in shares of Similarweb during the 4th quarter valued at about $1,255,000. Institutional investors and hedge funds own 57.59% of the company’s stock.

About Similarweb

Similarweb Ltd. is a digital intelligence company that provides data and analytics about online activity. Its platform helps organizations analyze website and mobile application performance, understand audience behavior, evaluate competitors, and identify trends across digital markets.

The company’s products support a range of business functions, including marketing, sales, market research, search engine optimization, investor research and business development. Similarweb combines data from multiple sources to provide insights into web traffic, mobile app usage, customer engagement, acquisition channels and industry positioning.

Founded in 2007, Similarweb serves businesses, agencies, financial institutions and other organizations in markets around the world.