Renaissance Technologies LLC Has $1.93 Million Stock Position in Similarweb Ltd. $SMWB

Renaissance Technologies LLC lifted its position in shares of Similarweb Ltd. (NYSE:SMWB) by 104.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 739,673 shares of the company’s stock after purchasing an additional 378,200 shares during the period. Renaissance Technologies LLC’s holdings in Similarweb were worth $1,931,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Jump Financial LLC acquired a new stake in shares of Similarweb in the second quarter valued at approximately $1,457,000. Federated Hermes Inc. lifted its holdings in shares of Similarweb by 52.4% in the second quarter. Federated Hermes Inc. now owns 48,000 shares of the company’s stock worth $376,000 after acquiring an additional 16,500 shares during the last quarter. Qube Research & Technologies Ltd bought a new position in Similarweb in the 2nd quarter valued at approximately $878,000. Nebula Research & Development LLC acquired a new stake in shares of Similarweb during the 2nd quarter valued at $146,000. Finally, California State Teachers Retirement System boosted its stake in shares of Similarweb by 29.7% during the second quarter. California State Teachers Retirement System now owns 49,654 shares of the company’s stock valued at $389,000 after purchasing an additional 11,356 shares in the last quarter. Institutional investors and hedge funds own 57.59% of the company’s stock.

Insider Activity at Similarweb

In related news, Director Barak Eilam bought 50,000 shares of the company’s stock in a transaction on Thursday, May 21st. The shares were purchased at an average cost of $3.86 per share, for a total transaction of $193,000.00. Following the completion of the purchase, the director directly owned 101,315 shares in the company, valued at $391,075.90. The trade was a 97.44% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Tamar Rapaport-Dagim acquired 40,000 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The stock was purchased at an average price of $3.22 per share, for a total transaction of $128,800.00. Following the purchase, the director owned 63,584 shares of the company’s stock, valued at $204,740.48. The trade was a 169.61% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders acquired 271,105 shares of company stock worth $1,020,726.

Similarweb Price Performance

Shares of SMWB stock opened at $7.16 on Wednesday. Similarweb Ltd. has a one year low of $2.22 and a one year high of $10.75. The firm has a 50-day moving average of $6.06 and a 200-day moving average of $4.29. The company has a market cap of $627.13 million, a P/E ratio of -20.45 and a beta of 1.14.

Similarweb (NYSE:SMWB) last announced its earnings results on Wednesday, May 13th. The company reported $0.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.01. The firm had revenue of $73.88 million for the quarter, compared to the consensus estimate of $73.04 million. Similarweb had a negative return on equity of 48.57% and a negative net margin of 10.38%. As a group, research analysts expect that Similarweb Ltd. will post -0.08 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SMWB. Oppenheimer lifted their price target on shares of Similarweb from $7.00 to $8.50 and gave the stock an “outperform” rating in a report on Wednesday, August 5th. Barclays cut their price target on Similarweb from $7.00 to $5.00 and set an “overweight” rating on the stock in a report on Monday, April 20th. Finally, Citigroup raised their target price on Similarweb from $3.00 to $7.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Three research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Similarweb presently has an average rating of “Hold” and a consensus target price of $8.29.

Similarweb Profile

Similarweb Ltd. (NYSE: SMWB) is a digital intelligence company that provides insights into website and mobile app performance. Its cloud-based platform aggregates and analyzes data on global web traffic, user engagement, and referral sources, enabling businesses to benchmark their digital presence against competitors. The company’s core offering includes metrics on audience behavior, traffic acquisition channels, and industry trends, which are designed to inform strategic decisions in marketing, sales, and product development.

Similarweb’s platform delivers a suite of tools for market research, competitor analysis, and performance optimization.