BOSTON—Dmitry Melnikov, a director and significant shareholder at SEMrush Holdings, Inc. (NASDAQ:SEMR), recently sold shares worth approximately $889,113, according to a recent SEC filing. The transactions involved the sale of 72,476 shares of Class A Common Stock over two days, with prices ranging from $12.22 to $12.32 per share. The sales come as SEMrush demonstrates strong financial health with impressive gross profit margins of 83% and revenue growth of 22% over the last twelve months, according to InvestingPro data.
The sales were conducted through The Melnikov Family GRAT Remainder Trust, as part of a pre-arranged Rule 10b5-1 trading plan established in March 2024. Following these transactions, Melnikov retains indirect ownership of a significant number of shares through various trusts, including the Melnikov Family GRAT Remainder Trust, Min Choron LLC, and other grantor retained annuity trusts. While the stock has experienced a 9% decline over the past week, analysts maintain optimistic price targets ranging from $16 to $21.
These recent sales reduce Melnikov's indirect holdings but still leave him with substantial equity in SEMrush Holdings. The transactions were executed as part of a strategic financial plan, allowing Melnikov to manage his investment portfolio while maintaining a significant stake in the company. For comprehensive insider trading analysis and 16 additional key insights about SEMR, visit InvestingPro, where you'll find detailed research reports and valuation metrics.
In other recent news, Semrush Holdings reported a robust growth for Q3, with a 24% year-over-year increase in revenue, reaching $97.4 million. The company's operational success has led to 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. Semrush's annual recurring revenue (ARR) also grew by 24% to $401 million, with the addition of approximately 1,300 net new paying customers.
The company has raised its full-year revenue guidance for 2024, reflecting confidence in its growth trajectory. For Q4 2024, the revenue is expected to be between $100.8 million and $101.8 million, representing a 21% year-over-year growth. The full-year 2024 revenue guidance has been raised to $375 million to $376 million, indicating a 22% growth rate at the midpoint.
In addition to financial growth, Semrush has seen positive customer feedback on AI capabilities integrated into product offerings. The enterprise SEO product launched in May 2023 is gaining traction, with over 90 accounts migrated by October. These recent developments signal Semrush's continued growth and its ability to adapt to the expanding digital marketing landscape.
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