Similarweb (NYSE:SMWB) CEO Sells $242,536.00 in Stock

Similarweb Ltd. (NYSE:SMWB) CEO Or Offer sold 28,400 shares of the company’s stock in a transaction dated Wednesday, September 23rd. The stock was sold at an average price of $8.54, for a total value of $242,536.00. Following the completion of the transaction, the chief executive officer directly owned 4,044,781 shares of the company’s stock, valued at approximately $34,542,429.74. This trade represents a 0.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, September 22nd, Or Offer sold 34,500 shares of Similarweb stock. The shares were sold at an average price of $8.38, for a total value of $289,110.00.
• On Monday, September 21st, Or Offer sold 32,200 shares of Similarweb stock. The stock was sold at an average price of $8.40, for a total value of $270,480.00.
• On Friday, September 18th, Or Offer sold 37,500 shares of Similarweb stock. The stock was sold at an average price of $8.25, for a total value of $309,375.00.
• On Thursday, September 17th, Or Offer sold 30,400 shares of Similarweb stock. The stock was sold at an average price of $8.35, for a total transaction of $253,840.00.
• On Wednesday, September 16th, Or Offer sold 45,719 shares of Similarweb stock. The stock was sold at an average price of $8.40, for a total value of $384,039.60.
• On Monday, September 14th, Or Offer sold 52,900 shares of Similarweb stock. The stock was sold at an average price of $8.54, for a total transaction of $451,766.00.
• On Tuesday, September 15th, Or Offer sold 26,691 shares of Similarweb stock. The stock was sold at an average price of $8.53, for a total value of $227,674.23.
• On Friday, September 11th, Or Offer sold 59,000 shares of Similarweb stock. The shares were sold at an average price of $8.05, for a total value of $474,950.00.
• On Thursday, September 10th, Or Offer sold 59,200 shares of Similarweb stock. The shares were sold at an average price of $8.06, for a total transaction of $477,152.00.
• On Wednesday, September 9th, Or Offer sold 86,300 shares of Similarweb stock. The stock was sold at an average price of $8.06, for a total transaction of $695,578.00.

Similarweb Stock Up 0.9%

Similarweb stock opened at $8.57 on Thursday. The firm has a market cap of $751.09 million, a P/E ratio of -34.30 and a beta of 1.21. Similarweb Ltd. has a twelve month low of $2.22 and a twelve month high of $9.82. The business has a fifty day moving average of $8.00 and a two-hundred day moving average of $5.29.

Similarweb (NYSE:SMWB) last announced its earnings results on Wednesday, August 12th. The company reported $0.06 EPS for the quarter. Similarweb had a negative net margin of 7.37% and a negative return on equity of 19.81%. The business had revenue of $77.19 million for the quarter.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on SMWB shares. Barclays boosted their target price on shares of Similarweb from $5.00 to $11.00 and gave the stock an “overweight” rating in a report on Thursday, August 13th. Northland Securities raised Similarweb from a “market perform” rating to an “outperform” rating and increased their price target for the company from $5.00 to $10.00 in a report on Wednesday, August 12th. Oppenheimer raised their price target on shares of Similarweb from $7.00 to $8.50 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. Citigroup upped their target price on Similarweb from $7.00 to $9.00 and gave the company a “neutral” rating in a research report on Thursday, August 13th. Finally, Needham & Company LLC upgraded shares of Similarweb from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a research report on Wednesday, September 16th. Five equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Similarweb has an average rating of “Hold” and an average price target of $9.71.

Hedge Funds Weigh In On Similarweb

A number of institutional investors have recently modified their holdings of the business. Integrated Wealth Concepts LLC purchased a new stake in Similarweb during the 2nd quarter worth about $92,000. Bank of America Corp DE lifted its holdings in shares of Similarweb by 475.3% during the first quarter. Bank of America Corp DE now owns 63,985 shares of the company’s stock valued at $167,000 after purchasing an additional 52,863 shares during the last quarter. Persistent Asset Partners Ltd acquired a new stake in shares of Similarweb in the fourth quarter valued at $1,348,000. Lavelle Capital LP bought a new stake in Similarweb in the 1st quarter valued at $529,000. Finally, Militia Capital Management LLC acquired a new position in shares of Similarweb during the 1st quarter worth $572,000. 57.59% of the stock is owned by institutional investors and hedge funds.

About Similarweb

Similarweb Ltd. is a digital intelligence company that provides data and analytics about online activity. Its platform helps organizations analyze website and mobile application performance, understand audience behavior, evaluate competitors, and identify trends across digital markets.

The company’s products support a range of business functions, including marketing, sales, market research, search engine optimization, investor research and business development. Similarweb combines data from multiple sources to provide insights into web traffic, mobile app usage, customer engagement, acquisition channels and industry positioning.

Founded in 2007, Similarweb serves businesses, agencies, financial institutions and other organizations in markets around the world.