Renaissance Group LLC Takes Position in Semrush Holdings, Inc. (NASDAQ:SEMR)

Renaissance Group LLC bought a new position in shares of Semrush Holdings, Inc. (NASDAQ:SEMR) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 302,803 shares of the company’s stock, valued at approximately $3,597,000.

A number of other institutional investors have also recently added to or reduced their stakes in SEMR. Charles Schwab Investment Management Inc. raised its stake in shares of Semrush by 12.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 301,405 shares of the company’s stock worth $4,735,000 after buying an additional 33,950 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in Semrush by 30.2% in the third quarter. The Manufacturers Life Insurance Company now owns 21,845 shares of the company’s stock worth $343,000 after acquiring an additional 5,068 shares in the last quarter. Point72 Asset Management L.P. raised its position in Semrush by 1,107.7% in the third quarter. Point72 Asset Management L.P. now owns 110,965 shares of the company’s stock worth $1,743,000 after acquiring an additional 101,777 shares in the last quarter. State Street Corp lifted its holdings in Semrush by 1.4% in the 3rd quarter. State Street Corp now owns 954,409 shares of the company’s stock valued at $14,994,000 after acquiring an additional 13,374 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of Semrush by 12.4% during the 3rd quarter. Wellington Management Group LLP now owns 1,529,624 shares of the company’s stock valued at $24,030,000 after purchasing an additional 168,400 shares in the last quarter. 32.86% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Semrush news, General Counsel David W. Mason sold 1,875 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $17.15, for a total value of $32,156.25. Following the transaction, the general counsel now directly owns 158,415 shares of the company’s stock, valued at $2,716,817.25. This represents a 1.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CMO Andrew Warden sold 17,118 shares of Semrush stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $11.20, for a total value of $191,721.60. Following the sale, the chief marketing officer now owns 404,992 shares of the company’s stock, valued at approximately $4,535,910.40. This represents a 4.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 241,182 shares of company stock worth $3,097,575. Corporate insiders own 57.83% of the company’s stock.

Analyst Upgrades and Downgrades

SEMR has been the subject of a number of research reports. Needham & Company LLC restated a “buy” rating and set a $18.00 target price on shares of Semrush in a report on Wednesday, January 15th. Morgan Stanley raised Semrush from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $17.00 to $20.00 in a research note on Monday, January 13th. Northland Securities assumed coverage on Semrush in a report on Tuesday, January 14th. They set an “outperform” rating and a $18.00 target price for the company. Northland Capmk raised Semrush to a “strong-buy” rating in a research note on Tuesday, January 14th. Finally, The Goldman Sachs Group reduced their price objective on shares of Semrush from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Friday, March 28th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Semrush has an average rating of “Buy” and a consensus price target of $18.14.

Semrush Price Performance

NASDAQ SEMR opened at $8.28 on Wednesday. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of 103.46 and a beta of 1.80. The company has a 50 day simple moving average of $12.79 and a 200-day simple moving average of $13.39. Semrush Holdings, Inc. has a 52-week low of $7.90 and a 52-week high of $18.74.

Semrush 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.