Herald Investment Management Ltd Has $4.71 Million Stake in Similarweb Ltd. $SMWB

Herald Investment Management Ltd boosted its stake in shares of Similarweb Ltd. (NYSE:SMWB) by 100.0% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 600,000 shares of the company’s stock after purchasing an additional 300,000 shares during the period. Herald Investment Management Ltd’s holdings in Similarweb were worth $4,710,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fullcircle Wealth LLC purchased a new position in shares of Similarweb during the 1st quarter valued at $117,000. Teacher Retirement System of Texas grew its stake in Similarweb by 70.1% in the first quarter. Teacher Retirement System of Texas now owns 18,362 shares of the company’s stock valued at $152,000 after purchasing an additional 7,566 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Similarweb by 15.5% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,032 shares of the company’s stock worth $174,000 after purchasing an additional 2,825 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of Similarweb during the 1st quarter worth about $258,000. Finally, Federated Hermes Inc. purchased a new stake in shares of Similarweb during the 1st quarter worth about $261,000. Hedge funds and other institutional investors own 57.59% of the company’s stock.

Wall Street Analysts Forecast Growth

SMWB has been the subject of a number of analyst reports. Oppenheimer lifted their target price on shares of Similarweb from $13.00 to $14.00 and gave the company an “outperform” rating in a research note on Monday, August 18th. Zacks Research upgraded shares of Similarweb from a “strong sell” rating to a “hold” rating in a report on Thursday, August 14th. Weiss Ratings reissued a “sell (e+)” rating on shares of Similarweb in a research report on Saturday, September 27th. Citigroup decreased their price target on Similarweb from $13.00 to $11.00 and set a “buy” rating for the company in a research note on Friday, August 1st. Finally, Barclays reissued an “overweight” rating on shares of Similarweb in a research note on Wednesday, August 13th. Nine analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $14.88.

Similarweb Trading Down 1.3%

NYSE SMWB opened at $9.15 on Monday. Similarweb Ltd. has a 1-year low of $6.36 and a 1-year high of $17.64. The company has a market capitalization of $776.73 million, a price-to-earnings ratio of -26.15 and a beta of 1.10. The stock’s 50 day moving average is $9.12 and its two-hundred day moving average is $8.26.

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.