Similarweb Ltd. (NYSE:SMWB) Shares Sold by ARK Investment Management LLC

ARK Investment Management LLC trimmed its position in shares of Similarweb Ltd. (NYSE:SMWB) by 40.7% in the first quarter, Holdings Channel.com reports. The firm owned 120,751 shares of the company’s stock after selling 82,923 shares during the period. ARK Investment Management LLC’s holdings in Similarweb were worth $999,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Phoenix Financial Ltd. lifted its holdings in Similarweb by 2.5% in the 1st quarter. Phoenix Financial Ltd. now owns 2,585,985 shares of the company’s stock worth $21,386,000 after buying an additional 63,978 shares in the last quarter. Cetera Investment Advisers acquired a new position in shares of Similarweb in the first quarter worth about $332,000. Y Intercept Hong Kong Ltd purchased a new position in Similarweb in the first quarter valued at about $258,000. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in Similarweb by 61.3% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,762,557 shares of the company’s stock valued at $22,846,000 after purchasing an additional 1,050,000 shares during the last quarter. Finally, Jennison Associates LLC grew its stake in Similarweb by 2.9% during the 1st quarter. Jennison Associates LLC now owns 1,892,110 shares of the company’s stock valued at $15,648,000 after purchasing an additional 53,055 shares in the last quarter. Hedge funds and other institutional investors own 57.59% of the company’s stock.

Similarweb Trading Down 1.0%

SMWB stock opened at $8.66 on Friday. The stock’s 50 day simple moving average is $8.01 and its 200 day simple moving average is $9.53. Similarweb Ltd. has a 12-month low of $5.71 and a 12-month high of $17.64. The firm has a market cap of $715.41 million, a P/E ratio of -39.36 and a beta of 1.10.

Similarweb (NYSE:SMWB) last issued its earnings results on Tuesday, May 13th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.09). Similarweb had a negative return on equity of 71.14% and a negative net margin of 6.97%. The business had revenue of $67.09 million for the quarter, compared to analyst estimates of $66.37 million. On average, research analysts forecast that Similarweb Ltd. will post -0.24 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. The Goldman Sachs Group reduced their target price on Similarweb from $13.00 to $10.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Barclays cut their price target on shares of Similarweb from $15.00 to $10.00 and set an “overweight” rating on the stock in a report on Thursday, May 15th. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Similarweb has a consensus rating of “Buy” and an average target price of $15.75.

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.