Palogic Value Management L.P. Buys 13,000 Shares of Similarweb Ltd. $SMWB

Palogic Value Management L.P. lifted its position in Similarweb Ltd. (NYSE:SMWB) by 12.4% during the second quarter, HoldingsChannel.com reports. The fund owned 117,423 shares of the company’s stock after purchasing an additional 13,000 shares during the period. Palogic Value Management L.P.’s holdings in Similarweb were worth $921,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of SMWB. Fullcircle Wealth LLC bought a new stake in Similarweb in the first quarter valued at approximately $117,000. MQS Management LLC bought a new position in shares of Similarweb during the second quarter worth $125,000. ANTIPODES PARTNERS Ltd grew its holdings in shares of Similarweb by 8.3% in the 2nd quarter. ANTIPODES PARTNERS Ltd now owns 17,510 shares of the company’s stock valued at $137,000 after buying an additional 1,344 shares during the period. Teacher Retirement System of Texas increased its position in shares of Similarweb by 70.1% in the 1st quarter. Teacher Retirement System of Texas now owns 18,362 shares of the company’s stock valued at $152,000 after buying an additional 7,566 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Similarweb by 15.5% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,032 shares of the company’s stock valued at $174,000 after buying an additional 2,825 shares in the last quarter. Institutional investors and hedge funds own 57.59% of the company’s stock.

Similarweb Stock Performance

NYSE:SMWB opened at $8.55 on Friday. The stock has a 50-day simple moving average of $9.35 and a 200 day simple moving average of $8.40. Similarweb Ltd. has a 52-week low of $6.36 and a 52-week high of $17.64. The company has a market cap of $725.98 million, a PE ratio of -24.44 and a beta of 1.10.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Barclays reiterated an “overweight” rating on shares of Similarweb in a report on Wednesday, August 13th. Zacks Research raised Similarweb from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 14th. Oppenheimer lifted their price objective on Similarweb from $13.00 to $14.00 and gave the company an “outperform” rating in a report on Monday, August 18th. Citigroup reissued a “market outperform” rating on shares of Similarweb in a research note on Tuesday. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Similarweb in a report on Wednesday, October 8th. Nine equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $14.88.

About Similarweb

Similarweb Ltd. provides cloud-based digital intelligence solutions in the United States, Europe, the Asia Pacific, the United Kingdom, Israel, and internationally. The company offers digital research intelligence solutions for its customers to benchmark performance against competitors and market leaders, analyze trends in the market, conduct deeper research into specific companies, and analyze audience behavior; and digital marketing intelligence solutions for its customers to understand their competitors' online acquisition strategies in each marketing channel, and optimize their own strategies.