ARK Investment Management LLC Has $1.90 Million Stock Position in Similarweb Ltd. $SMWB

ARK Investment Management LLC lifted its holdings in shares of Similarweb Ltd. (NYSE:SMWB) by 100.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 242,370 shares of the company’s stock after purchasing an additional 121,619 shares during the quarter. ARK Investment Management LLC owned approximately 0.29% of Similarweb worth $1,900,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Nuveen LLC acquired a new position in shares of Similarweb during the 1st quarter worth $5,979,000. Herald Investment Management Ltd bought a new position in Similarweb in the 1st quarter worth $2,478,000. T. Rowe Price Investment Management Inc. raised its holdings in Similarweb by 109.1% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,410,826 shares of the company’s stock worth $11,668,000 after acquiring an additional 736,004 shares during the period. Migdal Insurance & Financial Holdings Ltd. raised its holdings in Similarweb by 61.3% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,762,557 shares of the company’s stock worth $22,846,000 after acquiring an additional 1,050,000 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in Similarweb by 14.8% in the 1st quarter. Victory Capital Management Inc. now owns 493,370 shares of the company’s stock worth $4,080,000 after acquiring an additional 63,588 shares during the period. Institutional investors and hedge funds own 57.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SMWB. Citigroup cut their price objective on shares of Similarweb from $13.00 to $11.00 and set a “buy” rating for the company in a research report on Friday, August 1st. Oppenheimer upped their price objective on shares of Similarweb from $13.00 to $14.00 and gave the company an “outperform” rating in a research report on Monday, August 18th. Barclays reaffirmed an “overweight” rating on shares of Similarweb in a research report on Wednesday, August 13th. Zacks Research raised shares of Similarweb from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 14th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Similarweb in a research report on Wednesday, October 8th. Nine analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $14.88.

Similarweb Trading Down 1.6%

Shares of SMWB stock opened at $8.67 on Thursday. Similarweb Ltd. has a 1 year low of $6.36 and a 1 year high of $17.64. The firm’s 50 day moving average is $9.35 and its 200-day moving average is $8.29. The firm has a market capitalization of $735.80 million, a price-to-earnings ratio of -24.77 and a beta of 1.10.

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.