UBS Group AG boosted its stake in shares of Similarweb Ltd. (NYSE:SMWB – Free Report) by 71.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 536,549 shares of the company’s stock after acquiring an additional 223,562 shares during the quarter. UBS Group AG’s holdings in Similarweb were worth $4,019,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in SMWB. New York State Common Retirement Fund acquired a new position in shares of Similarweb in the third quarter valued at approximately $7,903,000. Royce & Associates LP acquired a new position in shares of Similarweb in the third quarter valued at approximately $4,597,000. First Eagle Investment Management LLC grew its holdings in shares of Similarweb by 221.5% in the third quarter. First Eagle Investment Management LLC now owns 545,001 shares of the company’s stock valued at $5,069,000 after purchasing an additional 375,496 shares in the last quarter. Penn Capital Management Company LLC grew its holdings in shares of Similarweb by 299.4% in the third quarter. Penn Capital Management Company LLC now owns 1,646,094 shares of the company’s stock valued at $15,321,000 after purchasing an additional 1,233,928 shares in the last quarter. Finally, Portolan Capital Management LLC grew its holdings in shares of Similarweb by 62.0% in the third quarter. Portolan Capital Management LLC now owns 1,179,000 shares of the company’s stock valued at $10,965,000 after purchasing an additional 451,408 shares in the last quarter. Hedge funds and other institutional investors own 57.59% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on SMWB shares. Citizens Jmp cut shares of Similarweb from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 18th. Citigroup cut shares of Similarweb from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $8.50 to $3.00 in a report on Friday, April 10th. Barclays dropped their price objective on shares of Similarweb from $7.00 to $5.00 and set an “overweight” rating for the company in a report on Monday, April 20th. William Blair cut shares of Similarweb from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 18th. Finally, Oppenheimer dropped their price objective on shares of Similarweb from $7.00 to $4.00 and set an “outperform” rating for the company in a report on Thursday, February 19th. Three research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $7.07.
Insider Activity at Similarweb
In related news, Director Harel Moshe Beit-On acquired 75,000 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were bought at an average price of $3.89 per share, with a total value of $291,750.00. Following the completion of the acquisition, the director owned 10,885,778 shares in the company, valued at $42,345,676.42. This trade represents a 0.69% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Barak Eilam acquired 50,000 shares of the business’s stock in a transaction on Thursday, May 21st. The shares were bought at an average cost of $3.86 per share, for a total transaction of $193,000.00. Following the acquisition, the director owned 101,315 shares of the company’s stock, valued at $391,075.90. This represents a 97.44% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 221,105 shares of company stock worth $813,226 in the last ninety days. Company insiders own 62.40% of the company’s stock.
Similarweb Trading Up 9.0%
SMWB stock opened at $4.12 on Friday. Similarweb Ltd. has a twelve month low of $2.22 and a twelve month high of $10.75. The company’s 50 day moving average is $2.84 and its two-hundred day moving average is $4.93. The stock has a market cap of $361.00 million, a P/E ratio of -11.77 and a beta of 1.11.
Similarweb (NYSE:SMWB – Get Free Report) last released its quarterly earnings data on Wednesday, May 13th. The company reported $0.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.01. Similarweb had a negative net margin of 10.38% and a negative return on equity of 48.57%. The company had revenue of $73.88 million for the quarter, compared to analysts’ expectations of $73.04 million. On average, equities research analysts predict that Similarweb Ltd. will post -0.09 earnings per share for the current year.
Similarweb Profile
Similarweb Ltd. (NYSE: SMWB) is a digital intelligence company that provides insights into website and mobile app performance. Its cloud-based platform aggregates and analyzes data on global web traffic, user engagement, and referral sources, enabling businesses to benchmark their digital presence against competitors. The company’s core offering includes metrics on audience behavior, traffic acquisition channels, and industry trends, which are designed to inform strategic decisions in marketing, sales, and product development.
Similarweb’s platform delivers a suite of tools for market research, competitor analysis, and performance optimization.
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