Bamco Inc. NY purchased a new stake in Similarweb Ltd. (NYSE:SMWB) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 517,962 shares of the company’s stock, valued at approximately $10,204,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Carmignac Gestion bought a new position in shares of Similarweb during the 2nd quarter worth approximately $236,000. FMR LLC bought a new position in shares of Similarweb during the 2nd quarter worth approximately $13,794,000. Noked Capital LTD bought a new position in shares of Similarweb during the 2nd quarter worth approximately $591,000. Arena Capital Advisors LLC CA purchased a new stake in shares of Similarweb during the 2nd quarter worth approximately $788,000. Finally, BlackRock Inc. purchased a new stake in shares of Similarweb during the 2nd quarter worth approximately $13,789,000. 19.87% of the stock is currently owned by institutional investors and hedge funds.
Separately, Zacks Investment Research lowered shares of Similarweb from a “hold” rating to a “sell” rating in a research note on Tuesday, August 17th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $27.67.
Similarweb (NYSE:SMWB) last issued its quarterly earnings data on Wednesday, August 11th. The company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.05). The firm had revenue of $32.51 million for the quarter, compared to analysts’ expectations of $30.33 million. On average, equities analysts anticipate that Similarweb Ltd. will post -1.07 EPS for the current fiscal year.
Similarweb Ltd. provides website traffic solutions through AI-driven data analytics worldwide. It offers digital research intelligence solutions that allow senior leaders, strategy, business intelligence, and consumer insights teams 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 solutions, which enable marketing leaders, search engine optimization, and content managers, pay-per-click, performance marketers, affiliate marketers, and media buyers to understand their competitors' online acquisition strategies in each marketing channel.
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