Meitav Investment House Ltd. Cuts Stock Position in Similarweb Ltd. $SMWB

Meitav Investment House Ltd. decreased its holdings in shares of Similarweb Ltd. (NYSE:SMWB) by 47.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,000 shares of the company’s stock after selling 9,075 shares during the quarter. Meitav Investment House Ltd.’s holdings in Similarweb were worth $78,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in SMWB. Fullcircle Wealth LLC purchased a new stake in shares of Similarweb during the 1st quarter valued at about $117,000. Teacher Retirement System of Texas raised its position in Similarweb by 70.1% during the first quarter. Teacher Retirement System of Texas now owns 18,362 shares of the company’s stock valued at $152,000 after purchasing an additional 7,566 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake 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 purchasing an additional 2,825 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Similarweb in the 1st quarter valued at approximately $258,000. Finally, Federated Hermes Inc. purchased a new position in shares of Similarweb in the 1st quarter worth approximately $261,000. 57.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SMWB. Weiss Ratings restated a “sell (e+)” rating on shares of Similarweb in a research report on Saturday, September 27th. Citigroup lowered their target price on shares of Similarweb from $13.00 to $11.00 and set a “buy” rating for the company in a report on Friday, August 1st. Zacks Research raised shares of Similarweb from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 14th. Oppenheimer upped their price target on shares of Similarweb from $13.00 to $14.00 and gave the company an “outperform” rating in a report on Monday, August 18th. Finally, Barclays reissued an “overweight” rating on shares of Similarweb in a research report on Wednesday, August 13th. Nine equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $14.88.

Similarweb Price Performance

Similarweb stock opened at $8.91 on Wednesday. The stock has a market cap of $756.28 million, a price-to-earnings ratio of -25.46 and a beta of 1.10. The firm has a 50-day moving average of $9.13 and a two-hundred day moving average of $8.27. Similarweb Ltd. has a 1 year low of $6.36 and a 1 year high of $17.64.

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.