George Baxter’s Sabrepoint Capital is Buying These 5 Stocks

4. SEMrush Holdings, Inc. (NYSE:SEMR)

Baxter’s  Stake Value: $18,433,000

Percentage of George Baxter’s 13F Portfolio: 5.8% 

Number of Hedge Fund Holders: 7

SEMrush Holdings, Inc. (NYSE: SEMR) is a digital SaaS platform that caters to online visibility management and content marketing strategies. The latest data shows that Sabrepoint Capital owned 800,744 shares in the company at the end of the second quarter of 2021, worth $18.4 million.

As of the second quarter of 2021, 7 hedge funds in the database of Insider Monkey reported owning shares worth $111.4 million in SEMrush Holdings, Inc. (NYSE: SEMR), compared to 20 in the previous quarter worth $57.5 million. With a stake of over $55.6 million, Ancient Art (Teton Capital) is the leading investor in the company.

On October 10, investment advisory Stifel raised the price target on SEMrush Holdings, Inc. (SEMR) stock from $20 to $25 and maintained a Hold rating. The rating was issued by J.Parker, an analyst at the advisory, who described SEMrush Holdings, Inc. (SEMR) as “a leader in online visibility management” but believed the market to be crowded.

Clearbridge Investments shared its insights on the company in its Q1 2021 investor letter. Here’s what the investment management firm said:

“We established seven new positions during the quarter, (including SEMrush) largely financed through trims in existing holdings whose market values have risen. Four of the additions play roles in the accelerating digital transformation of the sales, marketing and customer development processes. SEMrush, in the IT sector, is a software provider that help clients optimize their marketing spend across digital search and social media platforms.”