Or Offer Sells 59,000 Shares of Similarweb (NYSE:SMWB) Stock

Similarweb Ltd. (NYSE:SMWB) CEO Or Offer sold 59,000 shares of Similarweb stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $8.05, for a total transaction of $474,950.00. Following the sale, the chief executive officer directly owned 4,333,091 shares in the company, valued at approximately $34,881,382.55. The trade was a 1.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• 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 value of $477,152.00.
• On Wednesday, September 9th, Or Offer sold 86,300 shares of Similarweb stock. The shares were sold at an average price of $8.06, for a total value of $695,578.00.
• On Tuesday, September 8th, Or Offer sold 60,700 shares of Similarweb stock. The stock was sold at an average price of $8.33, for a total value of $505,631.00.
• On Wednesday, August 26th, Or Offer sold 383,127 shares of Similarweb stock. The shares were sold at an average price of $9.00, for a total transaction of $3,448,143.00.
• On Thursday, August 13th, Or Offer sold 574,605 shares of Similarweb stock. The shares were sold at an average price of $8.80, for a total transaction of $5,056,524.00.
• 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.

Similarweb Price Performance

Shares of SMWB stock traded up $0.42 during trading hours on Monday, hitting $8.49. The company had a trading volume of 100,648 shares, compared to its average volume of 885,768. The stock has a market capitalization of $743.99 million, a PE ratio of -33.97 and a beta of 1.21. The company’s fifty day moving average is $7.72 and its 200 day moving average is $4.97. Similarweb Ltd. has a fifty-two week low of $2.22 and a fifty-two week high of $10.26.

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

Hedge Funds Weigh In On Similarweb

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Lavelle Capital LP acquired a new position in Similarweb during the first quarter worth $529,000. Renaissance Technologies LLC boosted its position in shares of Similarweb by 104.6% in the 1st 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 in the last quarter. Militia Capital Management LLC purchased a new position in Similarweb during the 1st quarter valued at about $616,000. Wellington Management Group LLP lifted its holdings in shares of Similarweb by 22.2% in the second quarter. Wellington Management Group LLP now owns 3,624,685 shares of the company’s stock valued at $22,219,000 after purchasing an additional 657,928 shares in the last quarter. Finally, UBS Group AG grew its position in shares of Similarweb by 71.4% in the fourth quarter. UBS Group AG now owns 536,549 shares of the company’s stock valued at $4,019,000 after purchasing an additional 223,562 shares during the last quarter. Institutional investors and hedge funds own 57.59% of the company’s stock.

Analyst Upgrades and Downgrades

SMWB has been the subject of a number of analyst reports. Oppenheimer boosted their price objective on Similarweb from $7.00 to $8.50 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. Barclays increased their price objective on shares of Similarweb from $5.00 to $11.00 and gave the company an “overweight” rating in a research report on Thursday, August 13th. Northland Securities raised Similarweb from a “market perform” rating to an “outperform” rating and increased their target price for the company from $5.00 to $10.00 in a report on Wednesday, August 12th. Citigroup lifted their price target on Similarweb from $7.00 to $9.00 and gave the stock a “neutral” rating in a report on Thursday, August 13th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Similarweb in a report on Wednesday, August 12th. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $10.14.

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.