SEMrush Holdings, Inc. (NYSE:SEMR) director Dmitry Melnikov engaged in a stock transaction involving the sale of company shares, according to a recent filing with the Securities and Exchange Commission. The transaction took place on April 2, 2024, and involved the sale of 1,445 shares of Class A Common Stock at an average price of $13.12 per share, resulting in a total sale value of approximately $18,958.
The sale was conducted in multiple transactions at prices ranging from $13.05 to $13.16. The shares sold were necessary to meet tax withholding obligations due to the vesting of restricted stock units (RSUs) and were not discretionary trades by Melnikov. Following the sale, Melnikov's direct holdings in SEMrush Holdings, Inc. amount to 2,972,163 shares.
Additionally, Melnikov has indirect holdings through several family trusts. The Melnikov Family GRAT Remainder Trust holds 9,383,659 shares, Min Choron LLC owns 5,924,595 shares, and The Dmitry Melnikov Grantor Retained Annuity Trust - Three has 1,346,975 shares. Melnikov's spouse serves as the trust advisor for these entities, directing the trustee on voting and disposal of the assets. Melnikov has disclaimed beneficial ownership of these securities except to the extent of his pecuniary interest.
The reported transactions provide insight into the trading activity of SEMrush's insiders and may interest investors monitoring the buying and selling trends of company executives.
InvestingPro Insights
As investors digest the news of SEMrush Holdings, Inc. (NYSE:SEMR) director Dmitry Melnikov's recent stock transaction, it's worth noting that the company presents some interesting financial metrics and analyst expectations. According to InvestingPro, SEMrush is trading at a high earnings multiple, with a P/E ratio of 1880, signaling high investor expectations for future earnings growth.
InvestingPro Tips highlight that SEMrush holds more cash than debt on its balance sheet, providing a solid financial foundation. Additionally, 4 analysts have revised their earnings upwards for the upcoming period, suggesting confidence in the company's financial prospects. With a gross profit margin of 82.99% over the last twelve months as of Q4 2023, SEMrush demonstrates its ability to retain a significant portion of its revenue as profit, underlining an impressive operational efficiency.
InvestingPro Data further reveals that SEMrush has a market capitalization of 1900M USD, and its revenue has grown by nearly 21% in the last quarter of 2023. These figures, combined with the company's profitability over the last twelve months and the analysts' prediction that SEMrush will remain profitable this year, may offer investors a broader context when considering the company's stock performance and insider trading activities.
For more detailed analysis and real-time metrics, visit InvestingPro's SEMR page.
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