Insider Selling: Similarweb (NYSE:SMWB) CEO Sells 574,605 Shares of Stock

Similarweb Ltd. (NYSE:SMWB) CEO Or Offer sold 574,605 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $8.80, for a total value of $5,056,524.00. Following the completion of the transaction, the chief executive officer owned 4,598,291 shares of the company’s stock, valued at $40,464,960.80. The trade was a 11.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Or Offer also recently made the following trade(s):

• On Friday, August 14th, Or Offer sold 134,992 shares of Similarweb stock. The shares were sold at an average price of $8.87, for a total transaction of $1,197,379.04.
• On Monday, June 1st, Or Offer bought 50,000 shares of Similarweb stock. The stock was acquired at an average price of $4.15 per share, with a total value of $207,500.00.
• On Tuesday, May 19th, Or Offer acquired 53,000 shares of Similarweb stock. The shares were bought at an average cost of $3.58 per share, with a total value of $189,740.00.

Similarweb Stock Performance

Shares of NYSE:SMWB opened at $8.88 on Monday. Similarweb Ltd. has a 1 year low of $2.22 and a 1 year high of $10.75. The stock has a 50-day simple moving average of $6.34 and a 200-day simple moving average of $4.35. The stock has a market capitalization of $777.45 million, a P/E ratio of -35.50 and a beta of 1.13.

Similarweb (NYSE:SMWB) last released its quarterly earnings data on Wednesday, August 12th. The company reported $0.06 EPS for the quarter. Similarweb had a negative return on equity of 19.81% and a negative net margin of 7.37%.The company had revenue of $77.19 million for the quarter. Analysts predict that Similarweb Ltd. will post -0.08 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SMWB. Barclays lifted their target price on Similarweb from $5.00 to $11.00 and gave the stock an “overweight” rating in a research report on Thursday. Oppenheimer raised their price objective on Similarweb from $7.00 to $8.50 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Wall Street Zen upgraded Similarweb from a “hold” rating to a “buy” rating in a report on Saturday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Similarweb in a research report on Wednesday. Finally, Citigroup increased their target price on Similarweb from $7.00 to $9.00 and gave the company a “neutral” rating in a research note on Thursday. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $10.14.

Hedge Funds Weigh In On Similarweb

A number of hedge funds have recently bought and sold shares of the company. Militia Capital Management LLC acquired a new stake in Similarweb during the first quarter valued at approximately $616,000. Lavelle Capital LP acquired a new position in Similarweb during the 1st quarter valued at approximately $529,000. Bank of America Corp DE grew its stake in Similarweb by 475.3% during the 1st quarter. Bank of America Corp DE now owns 63,985 shares of the company’s stock worth $167,000 after buying an additional 52,863 shares during the last quarter. Renaissance Technologies LLC increased its position in Similarweb by 104.6% in the first quarter. Renaissance Technologies LLC now owns 739,673 shares of the company’s stock worth $1,931,000 after buying an additional 378,200 shares during the period. Finally, Sphera Management Technology Funds Ltd lifted its stake in Similarweb by 3.7% in the fourth quarter. Sphera Management Technology Funds Ltd now owns 480,000 shares of the company’s stock valued at $3,595,000 after buying an additional 17,122 shares during the last quarter. 57.59% of the stock is currently owned by institutional investors and hedge funds.

Similarweb Company 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.