DRW Securities LLC Takes $157,000 Position in Semrush Holdings, Inc. (NASDAQ:SEMR)

DRW Securities LLC bought a new position in shares of Semrush Holdings, Inc. (NASDAQ:SEMR) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 10,000 shares of the company’s stock, valued at approximately $157,000.

Other hedge funds also recently added to or reduced their stakes in the company. Silvercrest Asset Management Group LLC purchased a new stake in Semrush during the 1st quarter worth about $2,705,000. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Semrush during the first quarter worth approximately $543,000. SG Americas Securities LLC acquired a new stake in Semrush in the second quarter valued at approximately $654,000. Summit Global Investments purchased a new position in Semrush in the second quarter worth approximately $156,000. Finally, Bank of New York Mellon Corp grew its holdings in Semrush by 28.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 104,761 shares of the company’s stock worth $1,403,000 after acquiring an additional 23,313 shares in the last quarter. 32.86% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Semrush news, President Eugenie Levin sold 3,788 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $14.12, for a total transaction of $53,486.56. Following the completion of the sale, the president now directly owns 601,892 shares of the company’s stock, valued at approximately $8,498,715.04. This trade represents a 0.63 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dmitry Melnikov sold 64,140 shares of Semrush stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $14.59, for a total value of $935,802.60. Following the completion of the transaction, the director now owns 9,227,898 shares in the company, valued at $134,635,031.82. This trade represents a 0.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 154,112 shares of company stock valued at $2,179,734. 57.83% of the stock is currently owned by company insiders.

Semrush Stock Performance

Semrush stock opened at $13.42 on Thursday. The stock has a 50-day simple moving average of $13.89 and a 200-day simple moving average of $14.05. The company has a market capitalization of $1.97 billion, a P/E ratio of 167.75 and a beta of 1.62. Semrush Holdings, Inc. has a fifty-two week low of $9.64 and a fifty-two week high of $16.42.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on SEMR shares. The Goldman Sachs Group lifted their price objective on shares of Semrush from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Monday, October 7th. JPMorgan Chase & Co. lifted their price target on Semrush from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Needham & Company LLC reiterated a “buy” rating and issued a $18.00 price objective on shares of Semrush in a report on Monday, November 11th. Finally, KeyCorp boosted their target price on Semrush from $19.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $16.50.

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.