Cannon Global Investment Management LLC Takes Position in Semrush Holdings, Inc. (NASDAQ:SEMR)

Cannon Global Investment Management LLC purchased a new position in Semrush Holdings, Inc. (NASDAQ:SEMR) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 29,700 shares of the company’s stock, valued at approximately $353,000.

A number of other hedge funds have also modified their holdings of SEMR. US Bancorp DE lifted its stake in Semrush by 2,127.2% in the 4th quarter. US Bancorp DE now owns 3,608 shares of the company’s stock worth $43,000 after acquiring an additional 3,446 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in Semrush in the fourth quarter worth approximately $71,000. DRW Securities LLC acquired a new position in Semrush during the third quarter worth $157,000. Virtu Financial LLC bought a new position in shares of Semrush in the 3rd quarter valued at approximately $158,000. Finally, Arizona State Retirement System bought a new position in shares of Semrush in the fourth quarter valued at approximately $128,000. 32.86% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Semrush

In other news, CEO Oleg Shchegolev sold 32,932 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $11.19, for a total transaction of $368,509.08. Following the completion of the transaction, the chief executive officer now owns 7,268,282 shares in the company, valued at approximately $81,332,075.58. This represents a 0.45 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel David W. Mason sold 1,875 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $17.15, for a total transaction of $32,156.25. Following the completion of the transaction, the general counsel now owns 158,415 shares of the company’s stock, valued at $2,716,817.25. This trade represents a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 283,169 shares of company stock worth $3,643,401 over the last 90 days. Insiders own 57.83% of the company’s stock.

Semrush Trading Down 2.0 %

Shares of NASDAQ SEMR opened at $9.93 on Monday. The business’s 50 day moving average is $14.45 and its 200-day moving average is $13.81. The firm has a market cap of $1.46 billion, a P/E ratio of 124.10 and a beta of 1.77. Semrush Holdings, Inc. has a 1-year low of $9.21 and a 1-year high of $18.74.

Wall Street Analyst Weigh In

SEMR has been the subject of a number of research analyst reports. Northland Capmk upgraded Semrush to a “strong-buy” rating in a report on Tuesday, January 14th. Jefferies Financial Group increased their target price on Semrush from $17.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Northland Securities assumed coverage on shares of Semrush in a research note on Tuesday, January 14th. They set an “outperform” rating and a $18.00 price objective on the stock. Morgan Stanley raised Semrush from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $17.00 to $20.00 in a report on Monday, January 13th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 price objective on shares of Semrush in a report on Wednesday, January 15th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Semrush presently has a consensus rating of “Buy” and a consensus price target of $18.71.

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.