Similarweb Ltd. (NYSE:SMWB) Short Interest Update

Similarweb Ltd. (NYSE:SMWB) was the recipient of a large increase in short interest during the month of August. As of August 31st, there was short interest totaling 640,766 shares, an increase of 59.2% from the August 15th total of 402,389 shares. Currently, 1.9% of the shares of the stock are sold short. Based on an average trading volume of 827,895 shares, the days-to-cover ratio is currently 0.8 days.

Insider Activity at Similarweb

In other news, CEO Or Offer sold 574,605 shares of the business’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $8.80, for a total transaction 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 approximately $40,464,960.80. The trade was a 11.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 1,513,634 shares of company stock worth $13,172,677 over the last ninety days. 62.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Similarweb

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP increased its stake in Similarweb by 22.2% in the 2nd quarter. Wellington Management Group LLP now owns 3,624,685 shares of the company’s stock worth $22,219,000 after purchasing an additional 657,928 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Similarweb by 104.6% during the first quarter. Renaissance Technologies LLC now owns 739,673 shares of the company’s stock valued at $1,931,000 after purchasing an additional 378,200 shares during the period. Militia Capital Management LLC bought a new position in shares of Similarweb in the first quarter worth approximately $616,000. UBS Group AG increased its stake in shares of Similarweb by 71.4% in the fourth quarter. UBS Group AG now owns 536,549 shares of the company’s stock worth $4,019,000 after buying an additional 223,562 shares during the period. Finally, Lavelle Capital LP bought a new stake in Similarweb during the 1st quarter valued at $529,000. Institutional investors own 57.59% of the company’s stock.

Similarweb Stock Performance

Shares of Similarweb stock opened at $8.22 on Friday. Similarweb has a 52-week low of $2.22 and a 52-week high of $10.04. The company has a fifty day moving average of $7.91 and a 200-day moving average of $5.16. The stock has a market capitalization of $720.42 million, a price-to-earnings ratio of -32.90 and a beta of 1.21.

Similarweb (NYSE:SMWB) last issued 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 company had revenue of $77.19 million for the quarter.

Analyst Upgrades and Downgrades

A number of research firms have commented on SMWB. Citigroup boosted their price target on shares of Similarweb from $7.00 to $9.00 and gave the stock a “neutral” rating in a research note on Thursday, August 13th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Similarweb in a report on Wednesday, August 12th. Barclays upped their target price on shares of Similarweb from $5.00 to $11.00 and gave the stock 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 research note on Wednesday, August 12th. Finally, Oppenheimer raised their price target on Similarweb from $7.00 to $8.50 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. Five analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price 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.