Connor Clark & Lunn Investment Management Ltd. Has $9.60 Million Holdings in Similarweb Ltd. (NYSE:SMWB)

Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Similarweb Ltd. (NYSE:SMWB) by 50.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 677,465 shares of the company’s stock after purchasing an additional 227,569 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Similarweb were worth $9,600,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of SMWB. State of New Jersey Common Pension Fund D acquired a new stake in shares of Similarweb during the third quarter worth $122,000. Oppenheimer & Co. Inc. increased its position in shares of Similarweb by 9.8% during the third quarter. Oppenheimer & Co. Inc. now owns 106,607 shares of the company’s stock worth $942,000 after buying an additional 9,555 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Similarweb during the third quarter worth $75,000. Walleye Capital LLC increased its position in shares of Similarweb by 115.9% during the third quarter. Walleye Capital LLC now owns 354,653 shares of the company’s stock worth $3,135,000 after buying an additional 190,380 shares during the period. Finally, Verition Fund Management LLC acquired a new stake in Similarweb in the third quarter worth $160,000. 57.59% of the stock is currently owned by institutional investors and hedge funds.

Similarweb Trading Up 4.2 %

Similarweb stock opened at $9.02 on Friday. Similarweb Ltd. has a 1-year low of $5.71 and a 1-year high of $17.64. The firm has a market capitalization of $745.55 million, a price-to-earnings ratio of -64.45 and a beta of 1.08. The firm’s fifty day moving average price is $13.09 and its two-hundred day moving average price is $11.49.

Similarweb (NYSE:SMWB) last released its quarterly earnings data on Tuesday, February 11th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.10). Similarweb had a negative net margin of 4.58% and a negative return on equity of 47.62%. On average, research analysts forecast that Similarweb Ltd. will post -0.24 EPS for the current year.

Analyst Upgrades and Downgrades

SMWB has been the subject of a number of research reports. Jefferies Financial Group raised their price target on shares of Similarweb from $13.00 to $23.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. The Goldman Sachs Group initiated coverage on shares of Similarweb in a report on Wednesday, December 11th. They issued a “buy” rating and a $16.00 price target for the company. William Blair restated an “outperform” rating on shares of Similarweb in a report on Thursday, December 19th. Needham & Company LLC restated a “buy” rating and issued a $14.00 price target on shares of Similarweb in a report on Thursday, February 13th. Finally, Citigroup raised their price target on shares of Similarweb from $14.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Nine equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Similarweb presently has an average rating of “Buy” and a consensus price target of $16.50.

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.