First Eagle Investment Management LLC Acquires New Shares in Similarweb Ltd. $SMWB

First Eagle Investment Management LLC bought a new position in shares of Similarweb Ltd. (NYSE:SMWB) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 169,505 shares of the company’s stock, valued at approximately $1,329,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Migdal Insurance & Financial Holdings Ltd. raised its position in shares of Similarweb by 8.8% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,006,157 shares of the company’s stock worth $23,568,000 after purchasing an additional 243,600 shares during the period. Phoenix Financial Ltd. increased its stake in Similarweb by 2.5% during the 1st quarter. Phoenix Financial Ltd. now owns 2,585,985 shares of the company’s stock worth $21,386,000 after purchasing an additional 63,978 shares in the last quarter. Menora Mivtachim Holdings LTD. raised its holdings in Similarweb by 33.2% during the 1st quarter. Menora Mivtachim Holdings LTD. now owns 2,246,470 shares of the company’s stock worth $18,578,000 after buying an additional 560,000 shares during the period. Jennison Associates LLC lifted its stake in Similarweb by 2.9% in the first quarter. Jennison Associates LLC now owns 1,892,110 shares of the company’s stock valued at $15,648,000 after buying an additional 53,055 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. lifted its stake in Similarweb by 109.1% in the first quarter. T. Rowe Price Investment Management Inc. now owns 1,410,826 shares of the company’s stock valued at $11,668,000 after buying an additional 736,004 shares in the last quarter. 57.59% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SMWB has been the subject of several research reports. Barclays reissued an “overweight” rating on shares of Similarweb in a research report on Wednesday, August 13th. Zacks Research raised Similarweb from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 14th. Weiss Ratings restated a “sell (e+)” rating on shares of Similarweb in a report on Wednesday, October 8th. Citigroup reiterated a “market outperform” rating on shares of Similarweb in a report on Tuesday, October 28th. Finally, Oppenheimer boosted their target price on Similarweb from $13.00 to $14.00 and gave the company an “outperform” rating in a research note on Monday, August 18th. Nine 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $14.88.

Similarweb Stock Performance

SMWB opened at $8.41 on Monday. The business’s 50-day simple moving average is $9.22 and its 200 day simple moving average is $8.47. Similarweb Ltd. has a 52-week low of $6.36 and a 52-week high of $17.64. The firm has a market capitalization of $713.73 million, a PE ratio of -24.03 and a beta of 1.09.

Similarweb Profile

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.