Insider Selling: Similarweb (NYSE:SMWB) CEO Sells $451,766.00 in Stock

Similarweb Ltd. (NYSE:SMWB) CEO Or Offer sold 52,900 shares of the stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $8.54, for a total value of $451,766.00. Following the completion of the sale, the chief executive officer directly owned 4,280,191 shares of the company’s stock, valued at $36,552,831.14. The trade was a 1.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, 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 Tuesday, September 15th, Or Offer sold 26,691 shares of Similarweb stock. The shares were 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 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 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.
• On Tuesday, September 8th, Or Offer sold 60,700 shares of Similarweb stock. The shares were 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 stock was sold at an average price of $9.00, for a total value 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 value 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 value of $1,197,379.04.

Similarweb Trading Down 1.6%

NYSE:SMWB opened at $8.47 on Wednesday. Similarweb Ltd. has a 12-month low of $2.22 and a 12-month high of $10.19. The stock’s 50 day simple moving average is $7.81 and its 200-day simple moving average is $5.05. The firm has a market cap of $741.97 million, a P/E ratio of -33.88 and a beta of 1.21.

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

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SMWB. Northland Securities raised Similarweb from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $5.00 to $10.00 in a research note on Wednesday, August 12th. Oppenheimer upped their price target on shares of Similarweb from $7.00 to $8.50 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. Needham & Company LLC upgraded shares of Similarweb from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a research report on Wednesday. Wall Street Zen cut Similarweb from a “strong-buy” rating to a “buy” rating in a report on Saturday. Finally, Barclays boosted their target price on Similarweb from $5.00 to $11.00 and gave the stock an “overweight” rating in a research report on Thursday, August 13th. Five equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $9.71.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Integrated Wealth Concepts LLC purchased a new stake in shares of Similarweb during the second quarter valued at approximately $92,000. Royce & Associates LP lifted its holdings in Similarweb by 8.7% in the 4th quarter. Royce & Associates LP now owns 537,406 shares of the company’s stock worth $4,025,000 after buying an additional 43,078 shares in the last quarter. Bank of America Corp DE boosted its position in Similarweb by 475.3% in the 1st quarter. Bank of America Corp DE now owns 63,985 shares of the company’s stock valued at $167,000 after buying an additional 52,863 shares during the last quarter. S Squared Technology LLC grew its stake in shares of Similarweb by 12.9% during the fourth quarter. S Squared Technology LLC now owns 775,161 shares of the company’s stock valued at $5,806,000 after acquiring an additional 88,489 shares in the last quarter. Finally, Nano Cap New Millennium Growth Fund L P purchased a new stake in shares of Similarweb during the fourth quarter worth about $1,255,000. 57.59% of the stock is currently 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.