Semrush (NASDAQ:SEMR) Price Target Lowered to $13.00 at Morgan Stanley

Semrush (NASDAQ:SEMR) had its target price lowered by Morgan Stanley from $19.00 to $13.00 in a research report report published on Wednesday,Benzinga reports. The firm currently has an overweight rating on the stock.

SEMR has been the topic of several other reports. Northland Securities began coverage on Semrush in a research report on Tuesday, January 14th. They set an “outperform” rating and a $18.00 target price on the stock. The Goldman Sachs Group cut their price objective on shares of Semrush from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Friday, March 28th. Jefferies Financial Group boosted 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. Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 price target on shares of Semrush in a research note on Wednesday, January 15th. Finally, Northland Capmk upgraded shares of Semrush to a “strong-buy” rating in a report on Tuesday, January 14th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $17.14.

Semrush Stock Down 0.8 %

Shares of NASDAQ:SEMR opened at $8.89 on Wednesday. The company has a market capitalization of $1.31 billion, a P/E ratio of 111.14 and a beta of 1.80. The stock’s fifty day simple moving average is $11.58 and its 200-day simple moving average is $13.11. Semrush has a 52-week low of $7.90 and a 52-week high of $18.74.

Insider Transactions at Semrush

In other Semrush news, President Eugenie Levin sold 43,200 shares of the stock in a transaction on Friday, January 17th. The stock was sold at an average price of $15.39, for a total value of $664,848.00. Following the sale, the president now directly owns 537,349 shares of the company’s stock, valued at $8,269,801.11. This trade represents a 7.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Brian Mulroy sold 4,207 shares of Semrush stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $8.61, for a total transaction of $36,222.27. Following the completion of the sale, the chief financial officer now owns 694,351 shares in the company, valued at approximately $5,978,362.11. This represents a 0.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 242,374 shares of company stock worth $3,096,411. 57.83% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Semrush

Several hedge funds and other institutional investors have recently made changes to their positions in SEMR. Vanguard Group Inc. increased its holdings in shares of Semrush by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 5,177,228 shares of the company’s stock valued at $61,505,000 after purchasing an additional 113,222 shares during the period. Dorsey Asset Management LLC raised its position in shares of Semrush by 6.8% during the 4th quarter. Dorsey Asset Management LLC now owns 2,258,481 shares of the company’s stock worth $26,831,000 after buying an additional 144,534 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Semrush by 153.8% in the 4th quarter. Millennium Management LLC now owns 1,246,109 shares of the company’s stock worth $14,804,000 after acquiring an additional 755,220 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in shares of Semrush by 122.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 984,544 shares of the company’s stock valued at $11,696,000 after acquiring an additional 541,899 shares during the period. Finally, State Street Corp raised its holdings in Semrush by 1.4% during the third quarter. State Street Corp now owns 954,409 shares of the company’s stock worth $14,994,000 after purchasing an additional 13,374 shares in the last quarter. 32.86% of the stock is currently owned by institutional investors and hedge funds.

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.