ARK Investment Management LLC Sells 72,423 Shares of Similarweb Ltd. (NYSE:SMWB)

ARK Investment Management LLC lessened its holdings in shares of Similarweb Ltd. (NYSE:SMWB) by 26.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 203,674 shares of the company’s stock after selling 72,423 shares during the quarter. ARK Investment Management LLC owned approximately 0.25% of Similarweb worth $2,886,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Global Retirement Partners LLC bought a new position in Similarweb in the 4th quarter worth $29,000. New York State Common Retirement Fund purchased a new position in shares of Similarweb during the fourth quarter valued at about $39,000. Public Employees Retirement System of Ohio bought a new position in Similarweb in the third quarter worth about $70,000. Heck Capital Advisors LLC purchased a new stake in Similarweb in the fourth quarter worth about $115,000. Finally, Quantbot Technologies LP bought a new stake in Similarweb during the 3rd quarter valued at approximately $75,000. Hedge funds and other institutional investors own 57.59% of the company’s stock.

Similarweb Stock Performance

Shares of SMWB stock opened at $9.93 on Thursday. The company has a market capitalization of $803.53 million, a price-to-earnings ratio of -70.92 and a beta of 0.99. Similarweb Ltd. has a one year low of $5.71 and a one year high of $17.64. The company’s 50-day moving average is $14.35 and its 200 day moving average is $11.46.

Similarweb (NYSE:SMWB) last posted its quarterly earnings results on Tuesday, February 11th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.10). Similarweb had a negative net margin of 4.58% and a negative return on equity of 47.62%. As a group, research analysts predict that Similarweb Ltd. will post -0.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SMWB. Northland Securities increased their target price on Similarweb from $17.00 to $20.00 and gave the stock an “outperform” rating in a research report on Friday, January 24th. JMP Securities reiterated a “market outperform” rating and issued a $17.00 price objective on shares of Similarweb in a report on Thursday, February 13th. Jefferies Financial Group boosted their target price on shares of Similarweb from $13.00 to $23.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Needham & Company LLC reiterated a “buy” rating and issued a $14.00 price target on shares of Similarweb in a research note on Thursday, February 13th. Finally, The Goldman Sachs Group initiated coverage on shares of Similarweb in a research report on Wednesday, December 11th. They set a “buy” rating and a $16.00 price target for the company. Nine equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $16.50.

About Similarweb

Similarweb Ltd. provides cloud-based digital intelligence solutions in the United States, Europe, the Asia Pacific, the United Kingdom, Israel, and internationally. The company offers digital research intelligence solutions for its customers to benchmark performance against competitors and market leaders, analyze trends in the market, conduct deeper research into specific companies, and analyze audience behavior; and digital marketing intelligence solutions for its customers to understand their competitors' online acquisition strategies in each marketing channel, and optimize their own strategies.