Insider Selling: Similarweb (NYSE:SMWB) CEO Sells 37,500 Shares of Stock

Similarweb Ltd. (NYSE:SMWB) CEO Or Offer sold 37,500 shares of the business’s stock in a transaction on Friday, September 18th. The stock was sold at an average price of $8.25, for a total value of $309,375.00. Following the completion of the transaction, the chief executive officer owned 4,139,881 shares of the company’s stock, valued at $34,154,018.25. This represents a 0.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• 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 transaction of $270,480.00.
• On Thursday, September 17th, Or Offer sold 30,400 shares of Similarweb stock. The shares were 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 transaction 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 transaction 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 transaction 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 value 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 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 value of $3,448,143.00.

Similarweb Stock Performance

SMWB stock opened at $8.47 on Tuesday. The company has a market cap of $741.97 million, a price-to-earnings ratio of -33.88 and a beta of 1.21. The business’s 50-day moving average is $7.94 and its two-hundred day moving average is $5.21. Similarweb Ltd. has a fifty-two week low of $2.22 and a fifty-two week high of $9.87.

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

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SMWB. 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. Citigroup increased their target price on shares of Similarweb from $7.00 to $9.00 and gave the stock a “neutral” rating in a report on Thursday, August 13th. Barclays raised their target price on shares of Similarweb from $5.00 to $11.00 and gave the stock an “overweight” rating in a research note on Thursday, August 13th. Wall Street Zen lowered shares of Similarweb from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 12th. Finally, Northland Securities raised shares of Similarweb from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $5.00 to $10.00 in a research note on Wednesday, August 12th. 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, the stock presently has an average rating of “Hold” and a consensus target price of $9.71.

Institutional Trading of Similarweb

Institutional investors have recently made changes to their positions in the business. Integrated Wealth Concepts LLC bought a new stake in Similarweb during the 2nd quarter valued at approximately $92,000. Bank of America Corp DE boosted its stake in Similarweb by 475.3% in the 1st quarter. Bank of America Corp DE now owns 63,985 shares of the company’s stock worth $167,000 after purchasing an additional 52,863 shares during the period. Persistent Asset Partners Ltd purchased a new stake in Similarweb during the 4th quarter valued at approximately $1,348,000. Lavelle Capital LP purchased a new stake in Similarweb during the 1st quarter valued at approximately $529,000. Finally, Militia Capital Management LLC bought a new stake in shares of Similarweb during the first quarter valued at approximately $572,000. Hedge funds and other institutional investors own 57.59% of the company’s stock.

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.