Insider Selling: Similarweb (NYSE:SMWB) CEO Sells $227,674.23 in Stock

Similarweb Ltd. (NYSE:SMWB) CEO Or Offer sold 26,691 shares of the stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $8.53, for a total transaction of $227,674.23. Following the completion of the transaction, the chief executive officer directly owned 4,253,500 shares of the company’s stock, valued at approximately $36,282,355. The trade was a 0.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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 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 stock was 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 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 value 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 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 1.4%

NYSE:SMWB opened at $8.22 on Friday. The stock has a market cap of $720.42 million, a P/E ratio of -32.90 and a beta of 1.21. The stock’s 50-day moving average is $7.91 and its 200-day moving average is $5.16. Similarweb Ltd. has a 1-year low of $2.22 and a 1-year high of $10.04.

Similarweb (NYSE:SMWB) last issued its quarterly earnings data on Wednesday, August 12th. The company reported $0.06 earnings per share (EPS) for the quarter. The business 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%.

Hedge Funds Weigh In On Similarweb

Institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP boosted its holdings in shares of Similarweb by 22.2% during the 2nd quarter. Wellington Management Group LLP now owns 3,624,685 shares of the company’s stock worth $22,219,000 after buying an additional 657,928 shares in the last quarter. S Squared Technology LLC increased its stake in shares of Similarweb by 12.9% in the 4th 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. Renaissance Technologies LLC lifted its position in shares of Similarweb by 104.6% during the 1st quarter. Renaissance Technologies LLC now owns 739,673 shares of the company’s stock valued at $1,931,000 after acquiring an additional 378,200 shares during the period. Royce & Associates LP boosted its stake in Similarweb by 8.7% during the fourth quarter. Royce & Associates LP now owns 537,406 shares of the company’s stock worth $4,025,000 after acquiring an additional 43,078 shares in the last quarter. Finally, UBS Group AG grew its holdings in 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 purchasing an additional 223,562 shares during the period. 57.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Needham & Company LLC raised shares of Similarweb from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a research note on Wednesday. Northland Securities upgraded Similarweb from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $5.00 to $10.00 in a report on Wednesday, August 12th. Citigroup upped their price target on Similarweb from $7.00 to $9.00 and gave the company a “neutral” rating in a research report on Thursday, August 13th. Weiss Ratings reissued a “sell (e+)” rating on shares of Similarweb in a research note on Wednesday, August 12th. Finally, Barclays raised their price objective on Similarweb from $5.00 to $11.00 and gave the stock an “overweight” rating in a research report on Thursday, August 13th. Five investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $9.71.

Similarweb Company Profile

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.