Semrush president Levin Eugenie sells shares worth $664,848

Levin Eugenie, the President of SEMrush Holdings, Inc. (NASDAQ:SEMR), precocious sold 43,200 shares of the company's Class A Common Stock. The merchantability comes arsenic SEMrush trades adjacent its 52-week high, with the banal showing awesome momentum, gaining implicit 17% successful the past week. According to InvestingPro analysis, the institution maintains beardown fiscal wellness with an awesome 83% gross nett margin. The shares were sold astatine an mean terms of $15.39, resulting successful a full transaction worth of astir $664,848.

The income were conducted nether a Rule 10b5-1 trading plan, which was initially adopted by Eugenie connected May 15, 2023, and subsequently modified connected August 8, 2024. The shares were sold successful aggregate transactions, with prices ranging from $15.10 to $15.60. Following this transaction, Eugenie holds 537,349 shares, immoderate of which see restricted banal units that volition person to communal banal upon vesting. For deeper insights into insider transactions and broad fiscal analysis, including 20 further ProTips, cheque retired the elaborate Pro Research Report disposable connected InvestingPro.

In different caller news, SEMrush Holdings has been receiving affirmative attraction from analysts and investors alike, pursuing robust fiscal show successful the 3rd 4th of 2024. The institution reported a 24% year-over-year summation successful revenue, reaching $97.4 million, and a non-GAAP operating income of $12.1 million. The yearly recurring gross besides grew by 24% to $401 million, adding astir 1,300 caller paying customers.

Research steadfast Northland initiated sum connected SEMrush, assigning an Outperform standing and a terms people of $18.00. This affirmative outlook is based connected SEMrush's relation arsenic a broad integer information level and its strategical initiatives, including acquiring caller customers, processing caller products, and scaling its endeavor solutions.

SEMrush besides received an upgrade from Morgan Stanley (NYSE:), moving from Equalweight to Overweight. This alteration reflects the firm's assurance successful SEMrush's beardown fiscal health, awesome gross nett borderline of 83%, and gross maturation of 22% implicit the past 12 months. Morgan Stanley besides accrued the terms people for SEMrush to $20.00.

In airy of these developments, SEMrush has raised its full-year gross guidance for 2024. The company's endeavor SEO product, launched successful May 2023, has been gaining traction with implicit 90 accounts migrated by October, further highlighting SEMrush's continued maturation and adaptability successful the expanding integer selling landscape.

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