Connor Clark & Lunn Investment Management Ltd. Has $3.98 Million Stock Position in Similarweb Ltd. (NYSE:SMWB)

Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Similarweb Ltd. (NYSE:SMWB) by 112.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 449,896 shares of the company’s stock after buying an additional 238,428 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Similarweb were worth $3,977,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Cubist Systematic Strategies LLC raised its position in Similarweb by 4.4% during the second quarter. Cubist Systematic Strategies LLC now owns 51,272 shares of the company’s stock worth $398,000 after acquiring an additional 2,138 shares in the last quarter. California State Teachers Retirement System lifted its stake in Similarweb by 10.1% in the 1st quarter. California State Teachers Retirement System now owns 26,892 shares of the company’s stock valued at $242,000 after purchasing an additional 2,475 shares during the last quarter. Legato Capital Management LLC grew its holdings in Similarweb by 4.5% during the second quarter. Legato Capital Management LLC now owns 102,987 shares of the company’s stock worth $800,000 after purchasing an additional 4,455 shares during the period. Renaissance Technologies LLC increased its position in Similarweb by 4.3% during the second quarter. Renaissance Technologies LLC now owns 110,600 shares of the company’s stock worth $859,000 after buying an additional 4,599 shares during the last quarter. Finally, ANTIPODES PARTNERS Ltd raised its stake in Similarweb by 122.5% in the second quarter. ANTIPODES PARTNERS Ltd now owns 11,580 shares of the company’s stock valued at $90,000 after buying an additional 6,376 shares during the period. 57.59% of the stock is currently owned by institutional investors.

Similarweb Stock Up 0.6 %

NYSE SMWB opened at $12.57 on Friday. Similarweb Ltd. has a 12-month low of $4.58 and a 12-month high of $12.89. The firm has a 50-day moving average price of $9.38 and a two-hundred day moving average price of $8.32. The company has a market capitalization of $1.02 billion, a P/E ratio of -114.27 and a beta of 0.84.

Analysts Set New Price Targets

A number of research firms recently weighed in on SMWB. JMP Securities boosted their target price on Similarweb from $16.00 to $17.00 and gave the stock a “market outperform” rating in a report on Thursday, November 14th. Needham & Company LLC upped their price objective on shares of Similarweb from $11.00 to $14.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Citigroup raised their target price on shares of Similarweb from $10.00 to $14.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Northland Capmk upgraded shares of Similarweb to a “strong-buy” rating in a research note on Tuesday, September 10th. Finally, William Blair restated an “outperform” rating on shares of Similarweb in a research report on Monday, September 9th. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $12.86.

Similarweb Company 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.