Semrush (NASDAQ:SEMR) Sees Strong Trading Volume – Still a Buy?

Semrush Holdings, Inc. (NASDAQ:SEMR) saw unusually-strong trading volume on Friday . Approximately 886,324 shares changed hands during mid-day trading, an increase of 76% from the previous session’s volume of 503,182 shares.The stock last traded at $14.55 and had previously closed at $14.76.

Analyst Upgrades and Downgrades

SEMR has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised their target price on shares of Semrush from $16.00 to $17.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 target price on shares of Semrush in a research report on Monday, November 11th. The Goldman Sachs Group boosted their price target on Semrush from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Monday, October 7th. Finally, KeyCorp boosted their target price on shares of Semrush from $19.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Two investment 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.50.

Semrush Trading Down 2.6 %

The stock has a market capitalization of $2.11 billion, a price-to-earnings ratio of 184.52 and a beta of 1.62. The company’s 50 day moving average is $13.88 and its 200 day moving average is $14.07.

Insider Activity

In other news, CFO Brian Mulroy sold 4,207 shares of the business’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $13.12, for a total transaction of $55,195.84. Following the transaction, the chief financial officer now directly owns 433,211 shares in the company, valued at $5,683,728.32. The trade was a 0.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, President Eugenie Levin sold 3,788 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $14.12, for a total transaction of $53,486.56. Following the sale, the president now directly owns 601,892 shares in the company, valued at approximately $8,498,715.04. This represents a 0.63 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 164,123 shares of company stock valued at $2,320,088. Insiders own 57.83% of the company’s stock.

Hedge Funds Weigh In On Semrush

Institutional investors and hedge funds have recently bought and sold shares of the stock. Point72 Asset Management L.P. bought a new position in shares of Semrush in the 2nd quarter worth about $123,000. DRW Securities LLC bought a new position in Semrush during the third quarter valued at about $157,000. Virtu Financial LLC bought a new stake in Semrush in the third quarter worth about $158,000. Olympiad Research LP bought a new position in shares of Semrush during the 3rd quarter valued at about $159,000. Finally, Summit Global Investments bought a new stake in shares of Semrush in the 2nd quarter worth approximately $156,000. Institutional investors and hedge funds own 32.86% of the company’s stock.

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.