Dmitry Melnikov, a director and significant shareholder of SEMrush Holdings, Inc. (NASDAQ:SEMR), recently sold 42,342 shares of the company's Class A Common Stock. The transaction, which took place on December 12, 2024, was executed at a weighted average price of $13.87 per share, totaling approximately $587,283. This sale was conducted under a Rule 10b5-1 trading plan by The Melnikov Family GRAT Remainder Trust. The sale occurred as SEMrush, currently valued at $1.95 billion, maintains impressive gross profit margins of 83% and demonstrates strong financial health according to InvestingPro analysis.
Following this transaction, Melnikov holds a substantial number of shares through various entities. These include direct ownership of 1,702,590 shares and indirect ownership through Min Choron LLC, The Dmitry Melnikov Grantor Retained Annuity Trust - Three, and The Dmitry Melnikov Grantor Retained Annuity Trust - Four, totaling several million shares. With the stock trading near its 52-week range of $9.64-$16.42, InvestingPro subscribers can access 13 additional key insights and a comprehensive Pro Research Report covering SEMrush's valuation and growth prospects.
In other recent news, Semrush Holdings reported a strong Q3 performance with a 24% increase in revenue year-over-year, reaching $97.4 million. The online visibility management SaaS platform also saw a non-GAAP operating income of $12.1 million and a non-GAAP operating margin improvement to 12.4%, up from 9.5% in the previous year. The company's annual recurring revenue (ARR) grew by 24% to $401 million, with the addition of approximately 1,300 net new paying customers. In light of these developments, the company has raised the full-year revenue guidance for 2024. The forecast for Q4 2024 revenue is expected to be between $100.8 million and $101.8 million, representing a 21% year-over-year growth. Semrush maintains a strong balance sheet with $233 million in cash and investments. Lastly, the company aims for a 20% compound annual revenue growth rate in the near term.
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