Semrush (NASDAQ:SEMR) Stock Price Down 7.1% After Analyst Downgrade

Semrush Holdings, Inc. (NASDAQ:SEMR) shares dropped 7.1% during mid-day trading on Thursday after KeyCorp lowered their price target on the stock from $18.00 to $16.00. KeyCorp currently has an overweight rating on the stock. Semrush traded as low as $9.41 and last traded at $9.49. Approximately 171,534 shares were traded during trading, a decline of 69% from the average daily volume of 546,436 shares. The stock had previously closed at $10.22.

A number of other research analysts have also recently issued reports on the stock. Needham & Company LLC reissued a “buy” rating and set a $18.00 price target on shares of Semrush in a research report on Wednesday, January 15th. Northland Capmk raised shares of Semrush to a “strong-buy” rating in a report on Tuesday, January 14th. Northland Securities started coverage on Semrush in a report on Tuesday, January 14th. They issued an “outperform” rating and a $18.00 price objective for the company. Jefferies Financial Group upped their target price on shares of Semrush from $17.00 to $21.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Finally, Morgan Stanley decreased their price objective on Semrush from $19.00 to $13.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $16.43.

Insider Transactions at Semrush

In related news, CMO Andrew Warden sold 17,118 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $11.20, for a total transaction of $191,721.60. Following the completion of the sale, the chief marketing officer now directly owns 404,992 shares of the company’s stock, valued at approximately $4,535,910.40. This trade represents a 4.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark Vranesh sold 5,000 shares of Semrush stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $10.00, for a total transaction of $50,000.00. Following the sale, the director now directly owns 103,731 shares of the company’s stock, valued at $1,037,310. This represents a 4.60 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 158,406 shares of company stock worth $1,722,014. 57.83% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Semrush

A number of institutional investors and hedge funds have recently bought and sold shares of SEMR. XTX Topco Ltd purchased a new position in shares of Semrush during the first quarter valued at $245,000. Mackenzie Financial Corp raised its holdings in shares of Semrush by 74.6% in the 1st quarter. Mackenzie Financial Corp now owns 45,199 shares of the company’s stock valued at $422,000 after purchasing an additional 19,312 shares in the last quarter. ANTIPODES PARTNERS Ltd lifted its position in shares of Semrush by 80.3% in the 1st quarter. ANTIPODES PARTNERS Ltd now owns 42,686 shares of the company’s stock worth $398,000 after purchasing an additional 19,005 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Semrush during the first quarter valued at approximately $827,000. Finally, Y Intercept Hong Kong Ltd increased its holdings in Semrush by 31.0% during the first quarter. Y Intercept Hong Kong Ltd now owns 135,171 shares of the company’s stock valued at $1,261,000 after buying an additional 31,950 shares during the period. 32.86% of the stock is owned by institutional investors.

Semrush Price Performance

The company’s fifty day moving average is $9.64 and its 200-day moving average is $12.68. The company has a market capitalization of $1.47 billion, a PE ratio of 125.13 and a beta of 1.79.

Semrush Company Profile

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.