Semrush (NASDAQ:SEMR) Sees Unusually-High Trading Volume – Should You Buy?

Shares of Semrush Holdings, Inc. (NASDAQ:SEMR) saw unusually-strong trading volume on Thursday . Approximately 4,323,682 shares traded hands during mid-day trading, an increase of 269% from the previous session’s volume of 1,172,271 shares.The stock last traded at $11.8050 and had previously closed at $11.76.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SEMR. KeyCorp restated a “sector weight” rating on shares of Semrush in a report on Wednesday. Needham & Company LLC reiterated a “hold” rating on shares of Semrush in a research note on Wednesday. Morgan Stanley set a $9.00 price objective on shares of Semrush and gave the stock an “equal weight” rating in a report on Tuesday, August 5th. Jefferies Financial Group reiterated a “hold” rating and set a $12.00 target price (up from $10.00) on shares of Semrush in a research note on Thursday. Finally, The Goldman Sachs Group lowered their price target on Semrush from $12.00 to $9.00 and set a “neutral” rating on the stock in a report on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Semrush currently has an average rating of “Hold” and an average price target of $12.00.

Semrush Stock Up 0.3%

The company has a market capitalization of $1.75 billion, a PE ratio of 147.58 and a beta of 1.60. The company’s 50 day moving average is $7.43 and its two-hundred day moving average is $8.46.

Insiders Place Their Bets

In other news, CMO Andrew Warden sold 7,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $7.77, for a total transaction of $54,390.00. Following the sale, the chief marketing officer directly owned 366,917 shares of the company’s stock, valued at $2,850,945.09. This represents a 1.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 55.61% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Semrush

Institutional investors and hedge funds have recently made changes to their positions in the business. Signaturefd LLC bought a new position in shares of Semrush in the 1st quarter valued at about $42,000. Amundi increased its position in shares of Semrush by 29.3% during the 1st quarter. Amundi now owns 4,890 shares of the company’s stock valued at $44,000 after purchasing an additional 1,108 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in Semrush by 96.4% in the second quarter. Canada Pension Plan Investment Board now owns 5,500 shares of the company’s stock worth $50,000 after buying an additional 2,700 shares during the last quarter. State of Alaska Department of Revenue purchased a new position in Semrush during the third quarter worth $41,000. Finally, Tower Research Capital LLC TRC increased its position in Semrush by 56.1% during the second quarter. Tower Research Capital LLC TRC now owns 6,284 shares of the company’s stock valued at $57,000 after acquiring an additional 2,259 shares during the last quarter. 32.86% of the stock is owned by hedge funds and other institutional investors.

Semrush Company Profile

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.