Mirae Asset Global Investments Co. Ltd. lessened its stake in shares of PubMatic, Inc. (NASDAQ:PUBM – Get Rating) by 7.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 190,121 shares of the company’s stock after selling 15,989 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in PubMatic were worth $4,966,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of PUBM. The Manufacturers Life Insurance Company purchased a new stake in shares of PubMatic during the 1st quarter valued at $21,971,000. Renaissance Technologies LLC purchased a new stake in shares of PubMatic during the 4th quarter valued at $23,173,000. Goldman Sachs Group Inc. lifted its holdings in shares of PubMatic by 462.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 412,626 shares of the company’s stock valued at $10,778,000 after purchasing an additional 339,233 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of PubMatic by 13.8% during the 1st quarter. Vanguard Group Inc. now owns 2,682,842 shares of the company’s stock valued at $70,076,000 after purchasing an additional 325,631 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC lifted its holdings in shares of PubMatic by 146.8% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 442,477 shares of the company’s stock valued at $15,066,000 after purchasing an additional 263,178 shares during the last quarter. Institutional investors own 42.94% of the company’s stock.
Insiders Place Their Bets
In other PubMatic news, Chairman Amar K. Goel sold 24,000 shares of the stock in a transaction dated Monday, July 18th. The stock was sold at an average price of $15.93, for a total transaction of $382,320.00. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Rajeev K. Goel sold 5,865 shares of the firm’s stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $15.28, for a total transaction of $89,617.20. Following the sale, the chief executive officer now directly owns 5,371 shares in the company, valued at approximately $82,068.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Amar K. Goel sold 24,000 shares of the firm’s stock in a transaction dated Monday, July 18th. The shares were sold at an average price of $15.93, for a total value of $382,320.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 227,823 shares of company stock valued at $4,505,945. Company insiders own 1.20% of the company’s stock.
PubMatic Stock Performance
PubMatic (NASDAQ:PUBM – Get Rating) last announced its quarterly earnings results on Monday, August 8th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.07. The company had revenue of $63.03 million for the quarter, compared to the consensus estimate of $60.64 million. PubMatic had a return on equity of 19.13% and a net margin of 21.64%. The firm’s revenue for the quarter was up 26.9% compared to the same quarter last year. During the same period last year, the firm earned $0.18 EPS. Analysts forecast that PubMatic, Inc. will post 0.68 EPS for the current year.
Analysts Set New Price Targets
PUBM has been the subject of several analyst reports. Raymond James increased their price objective on PubMatic from $24.00 to $25.00 and gave the company an “outperform” rating in a report on Tuesday, August 9th. JMP Securities reduced their target price on PubMatic from $40.00 to $34.00 and set a “market outperform” rating for the company in a research note on Tuesday, August 9th. Jefferies Financial Group reduced their target price on PubMatic from $23.00 to $20.00 in a research note on Thursday, August 4th. KeyCorp lowered PubMatic to a “sector weight” rating in a research note on Tuesday, August 9th. Finally, Lake Street Capital reduced their target price on PubMatic from $26.00 to $24.00 in a research note on Tuesday, August 9th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $32.75.
PubMatic Company Profile
PubMatic, Inc provides a cloud infrastructure platform that enables real-time programmatic advertising transactions for Internet content creators and advertisers worldwide. The company's solutions include Openwrap, a header bidding solution that provides enterprise-grade management and analytics tools; Openwrap OTT, a header bidding management solution for OTT; Openwrap SDK, a header bidding solution for in-app developers; private marketplace solutions; and media buyer consoles.
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