Similarweb (NYSE:SMWB) CEO Sells $289,110.00 in Stock

Similarweb Ltd. (NYSE:SMWB) CEO Or Offer sold 34,500 shares of Similarweb stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of $8.38, for a total transaction of $289,110.00. Following the sale, the chief executive officer owned 4,073,181 shares in the company, valued at $34,133,256.78. This represents a 0.84% 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 Wednesday, September 23rd, Or Offer sold 28,400 shares of Similarweb stock. The stock was sold at an average price of $8.54, for a total transaction of $242,536.00.
• On Monday, September 21st, Or Offer sold 32,200 shares of Similarweb stock. The shares were 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 shares were 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 shares were 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 transaction of $227,674.23.
• On Friday, September 11th, Or Offer sold 59,000 shares of Similarweb stock. The stock was 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 stock was 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 Performance

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

Similarweb (NYSE:SMWB) last announced its quarterly earnings results on Wednesday, August 12th. The company reported $0.06 earnings per share (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 during the quarter.

Hedge Funds Weigh In On Similarweb

A number of institutional investors have recently modified their holdings of the company. Integrated Wealth Concepts LLC bought a new position in shares of Similarweb in the second quarter worth $92,000. Bank of America Corp DE lifted its holdings in shares of 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 acquiring an additional 52,863 shares during the period. Persistent Asset Partners Ltd acquired a new position in shares of Similarweb in the 4th quarter valued at $1,348,000. Lavelle Capital LP acquired a new stake in shares of Similarweb in the 1st quarter valued at approximately $529,000. Finally, Militia Capital Management LLC bought a new stake in shares of Similarweb in the first quarter valued at approximately $572,000. 57.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Similarweb in a report on Wednesday, August 12th. Needham & Company LLC raised Similarweb from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a research note on Wednesday, September 16th. Northland Securities upgraded shares of Similarweb from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $5.00 to $10.00 in a research note on Wednesday, August 12th. Citigroup lifted their price objective on shares of Similarweb from $7.00 to $9.00 and gave the company a “neutral” rating in a research note on Thursday, August 13th. Finally, Barclays increased their price target on shares of Similarweb from $5.00 to $11.00 and gave the stock an “overweight” rating in a report on Thursday, August 13th. Five equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $9.71.

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.