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BOSTON—Oleg Shchegolev, the Chief Executive Officer of SEMrush Holdings, Inc. (NASDAQ:SEMR), recently sold shares of the company's Class A Common Stock valued at $80,318. The transaction, reported on January 7, 2025, involved the sale of 6,859 shares at a weighted average price of $11.71 per share. The company, currently valued at $1.7 billion, maintains impressive gross profit margins of 83% and shows strong financial health with more cash than debt on its balance sheet. According to InvestingPro analysis, the stock appears slightly undervalued at current levels.
According to the filing, the sale was made to satisfy tax withholding obligations stemming from the vesting of restricted stock units (RSUs) and was not a discretionary trade by Shchegolev. Following this transaction, Shchegolev holds 7,301,214 shares directly. In addition, he has indirect ownership of shares through entities such as The Oleg Shchegolev Irrevocable Non-Exempt Trust of 2020 and Shchegolev Holdings, LLC. For comprehensive insider trading analysis and 16 additional key insights, visit InvestingPro.
The transaction details were disclosed in a Form 4 filing with the Securities and Exchange Commission (SEC). Five analysts have recently revised their earnings expectations upward for the upcoming period, with revenue growth forecast at 22% for fiscal year 2024.
In other recent news, Semrush Holdings has reported a robust growth for the third quarter of 2024, with a 24% increase in revenue year-over-year, reaching $97.4 million. The company's operational success was reflected in 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. Additionally, Semrush's annual recurring revenue (ARR) also 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 its full-year revenue guidance for 2024.
Semrush's Q4 2024 revenue is expected to be between $100.8 million and $101.8 million, representing a 21% year-over-year growth. Furthermore, the company maintains a strong balance sheet with $233 million in cash and investments. Notably, over 4,000 customers are now paying more than $10,000 annually, a significant increase from 200 in 2018. The net revenue retention rate stood at 107%, with higher ARR segments retaining above 120%. These are some of the recent developments that highlight the company's continued growth and its ability to adapt to the expanding digital marketing landscape.
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