Similarweb Ltd. (NYSE:SMWB) Shares Sold by ARK Investment Management LLC

ARK Investment Management LLC decreased its position in shares of Similarweb Ltd. (NYSE:SMWB) by 25.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 287,585 shares of the company’s stock after selling 96,645 shares during the quarter. ARK Investment Management LLC owned about 0.37% of Similarweb worth $2,235,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Russell Investments Group Ltd. bought a new position in Similarweb in the 1st quarter valued at about $2,820,000. Roubaix Capital LLC bought a new position in Similarweb during the 1st quarter valued at $2,449,000. Acadian Asset Management LLC increased its position in shares of Similarweb by 3,663.6% during the 1st quarter. Acadian Asset Management LLC now owns 275,417 shares of the company’s stock valued at $2,468,000 after purchasing an additional 268,099 shares during the period. Essex Investment Management Co. LLC acquired a new stake in shares of Similarweb in the first quarter valued at $2,344,000. Finally, Scalar Gauge Management LLC acquired a new position in Similarweb during the fourth quarter worth about $1,188,000. Institutional investors own 57.59% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $10.00 price objective on shares of Similarweb in a research note on Wednesday, August 7th. JMP Securities increased their price objective on Similarweb from $14.00 to $16.00 and gave the company a “market outperform” rating in a research report on Wednesday, August 21st. Finally, Barclays boosted their target price on Similarweb from $9.00 to $10.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $11.20.

Similarweb Trading Up 5.0 %

SMWB stock traded up $0.45 during midday trading on Tuesday, hitting $9.47. The stock had a trading volume of 784,880 shares, compared to its average volume of 174,180. Similarweb Ltd. has a 52 week low of $4.58 and a 52 week high of $9.76. The stock has a 50-day simple moving average of $7.35 and a 200 day simple moving average of $7.85. The firm has a market capitalization of $744.82 million, a price-to-earnings ratio of -36.08 and a beta of 0.76.

Similarweb (NYSE:SMWB) last issued its earnings results on Tuesday, August 6th. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.04. Similarweb had a negative net margin of 5.07% and a negative return on equity of 60.53%. The business had revenue of $60.64 million for the quarter, compared to analyst estimates of $60.23 million. On average, equities analysts forecast that Similarweb Ltd. will post -0.05 EPS for the current year.

Similarweb Profile

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.