Levin Eugenie, President of SEMrush Holdings, Inc. (NASDAQ:SEMR), has sold a significant portion of her Class A Common Stock holdings. According to a recent SEC filing, Eugenie sold 28,800 shares on January 21, 2025. The shares were sold at a weighted average price of $16.29, with transactions occurring within a price range of $16.00 to $16.52. The total value of the sale amounted to $469,152. The transaction comes as SEMrush trades near its 52-week high of $16.95, with the stock showing impressive momentum, up over 32% year-to-date. According to InvestingPro analysis, the company currently appears fairly valued. Following this transaction, Eugenie retains ownership of 508,549 shares, some of which include restricted stock units. The sale was conducted under a Rule 10b5-1 trading plan, which was originally adopted in May 2023 and modified in August 2024. SEMrush, with a market capitalization of $2.32 billion, maintains a "GREAT" financial health score according to InvestingPro, which offers comprehensive analysis including 16 additional ProTips and a detailed Pro Research Report for deeper insights into the company's fundamentals and outlook.
In other recent news, SEMrush Holdings Inc. reported robust growth in the third quarter of 2024, with a year-over-year revenue increase of 24% to $97.4 million. The non-GAAP operating income stood at $12.1 million, and the annual recurring revenue rose by 24% to $401 million, adding approximately 1,300 new paying customers. In light of these developments, SEMrush raised its full-year revenue guidance for 2024.
The company's enterprise SEO product, launched in May 2023, has been gaining traction with over 90 accounts migrated by October. The net revenue retention rate stood at 107%, with higher ARR segments retaining above 120%.
On the analyst front, Northland initiated coverage on SEMrush shares with an Outperform rating and a price target of $18.00, citing the company's strong financial health and impressive gross profit margins. Similarly, Morgan Stanley (NYSE:MS) upgraded SEMrush's stock from Equalweight to Overweight, increasing the price target to $20.00. Both firms highlighted SEMrush's growth potential and strategic initiatives.
These recent developments underscore SEMrush's continued growth and adaptability in the expanding digital marketing landscape.
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