Next Century Growth Investors, LLC, an investment Management Company, released its “Micro-Cap Strategy” fourth-quarter investor letter. A copy of the letter can be downloaded here. The recent surge in the stock market highlights the significance of current macroeconomic indicators and the Fed’s outlook on future interest rates. The strategy returned 9.54% (net of fees) compared to 15.63% for the Russell Microcap® Growth Index. Over the trailing year, the strategy returned 10.15% compared to 9.10% for the index. In addition, please check the fund’s top five holdings to know its best picks in 2023.
NCG Micro-Cap Strategy featured stocks like Semrush Holdings, Inc. (NYSE:SEMR) in the Q4 2023 investor letter. Headquartered in Boston, Massachusetts, Semrush Holdings, Inc. (NYSE:SEMR) develops an online visibility management software-as-a-service platform. On April 1, 2024, Semrush Holdings, Inc. (NYSE:SEMR) stock closed at $13.53 per share. One-month return of Semrush Holdings, Inc. (NYSE:SEMR) was 21.53%, and its shares gained 28.62% of their value over the last 52 weeks. Semrush Holdings, Inc. (NYSE:SEMR) has a market capitalization of $1.915 billion.
NCG Micro-Cap Strategy stated the following regarding Semrush Holdings, Inc. (NYSE:SEMR) in its fourth quarter 2023 investor letter:
“Semrush Holdings, Inc. (NYSE:SEMR) provides a software platform for online visibility management, which helps customers drive increased awareness of their businesses and greater traffic to their websites. This is becoming a greater priority for businesses as markets increasingly shift to online commerce. SEMR uses an efficient PLG (product-led growth) strategy to drive customer acquisition, allowing prospects to use the product for free before committing to the full solution with enhanced functionality. SEMR is a company that we owned in the past but sold due to concerns about the growth outlook. SEMR has experienced stabilization in growth and improved profitability over the past couple quarters and trades at an attractive valuation given the strong growth prospects of the business.”
Bespoke software code running on a computer terminal, displaying the complex nature of the software-as-a-service platform.
Semrush Holdings, Inc. (NYSE:SEMR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Semrush Holdings, Inc. (NYSE:SEMR) was held by 17 hedge fund portfolios, compared to 16 in the previous quarter, according to our database.
We discussed Semrush Holdings, Inc. (NYSE:SEMR) in another article and shared the list of best Ahrefs alternatives in 2024. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
