ARK Investment Management LLC Has $1.90 Million Position in Similarweb Ltd. $SMWB

ARK Investment Management LLC boosted its holdings in Similarweb Ltd. (NYSE:SMWB) by 100.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 242,370 shares of the company’s stock after buying an additional 121,619 shares during the period. ARK Investment Management LLC’s holdings in Similarweb were worth $1,900,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Fullcircle Wealth LLC acquired a new stake in Similarweb in the first quarter worth $117,000. Teacher Retirement System of Texas raised its holdings in Similarweb by 70.1% in the first quarter. Teacher Retirement System of Texas now owns 18,362 shares of the company’s stock worth $152,000 after purchasing an additional 7,566 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Similarweb by 15.5% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,032 shares of the company’s stock worth $174,000 after acquiring an additional 2,825 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Similarweb during the first quarter worth $258,000. Finally, Federated Hermes Inc. bought a new stake in shares of Similarweb during the first quarter worth $261,000. 57.59% of the stock is currently owned by institutional investors and hedge funds.

Similarweb Stock Performance

Shares of SMWB stock opened at $8.67 on Thursday. The company has a market capitalization of $735.80 million, a price-to-earnings ratio of -24.77 and a beta of 1.10. The company has a 50-day simple moving average of $9.35 and a 200 day simple moving average of $8.29. Similarweb Ltd. has a 52 week low of $6.36 and a 52 week high of $17.64.

Analyst Upgrades and Downgrades

SMWB has been the subject of several research reports. Oppenheimer increased their price objective on shares of Similarweb from $13.00 to $14.00 and gave the stock an “outperform” rating in a research report on Monday, August 18th. Zacks Research upgraded shares of Similarweb from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 14th. Citigroup lowered their price target on shares of Similarweb from $13.00 to $11.00 and set a “buy” rating on the stock in a research note on Friday, August 1st. Barclays reissued an “overweight” rating on shares of Similarweb in a research report on Wednesday, August 13th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Similarweb in a research report on Wednesday, October 8th. Nine equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.88.

Similarweb Company 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.