Aviva PLC Sells 17,451 Shares of PubMatic, Inc. (NASDAQ:PUBM)

Aviva PLC reduced its position in shares of PubMatic, Inc. (NASDAQ:PUBM – Get Rating) by 19.9% in the fourth quarter, HoldingsChannel reports. The firm owned 70,319 shares of the company’s stock after selling 17,451 shares during the quarter. Aviva PLC’s holdings in PubMatic were worth $901,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the company. Jasper Ridge Partners L.P. grew its stake in shares of PubMatic by 3.6% during the 1st quarter. Jasper Ridge Partners L.P. now owns 15,032 shares of the company’s stock valued at $393,000 after purchasing an additional 524 shares during the period. Verition Fund Management LLC grew its stake in shares of PubMatic by 7.6% during the 2nd quarter. Verition Fund Management LLC now owns 11,554 shares of the company’s stock valued at $184,000 after acquiring an additional 819 shares during the period. Aurora Investment Counsel grew its stake in shares of PubMatic by 2.3% during the 3rd quarter. Aurora Investment Counsel now owns 60,254 shares of the company’s stock valued at $1,002,000 after acquiring an additional 1,378 shares during the period. Commonwealth Equity Services LLC grew its stake in shares of PubMatic by 12.6% during the 3rd quarter. Commonwealth Equity Services LLC now owns 13,199 shares of the company’s stock valued at $219,000 after acquiring an additional 1,472 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of PubMatic by 47.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,852 shares of the company’s stock valued at $93,000 after acquiring an additional 1,880 shares during the period. 41.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PUBM. B. Riley began coverage on PubMatic in a research note on Wednesday, April 12th. They set a “buy” rating and a $20.00 price objective for the company. Oppenheimer cut their price objective on PubMatic from $23.00 to $17.00 and set an “outperform” rating for the company in a research note on Wednesday, March 1st. JMP Securities reiterated a “market outperform” rating and set a $21.00 price objective on shares of PubMatic in a research note on Thursday, March 16th. Vertical Research downgraded PubMatic to a “neutral” rating in a research note on Tuesday, January 24th. Finally, Raymond James lowered their price target on PubMatic from $18.00 to $17.00 and set an “outperform” rating on the stock in a report on Wednesday, March 1st. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $18.38.

PubMatic Price Performance

Shares of PUBM opened at $16.26 on Monday. The stock has a market capitalization of $844.54 million, a price-to-earnings ratio of 52.45 and a beta of 0.87. PubMatic, Inc. has a 1 year low of $11.73 and a 1 year high of $23.60. The business’s 50 day simple moving average is $13.77 and its 200-day simple moving average is $14.33.

PubMatic (NASDAQ:PUBM – Get Rating) last issued its quarterly earnings data on Tuesday, February 28th. The company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.02). The firm had revenue of $74.30 million for the quarter, compared to analysts’ expectations of $76.74 million. PubMatic had a return on equity of 9.89% and a net margin of 7.02%. On average, sell-side analysts expect that PubMatic, Inc. will post 0.14 earnings per share for the current year.

Insider Activity at PubMatic

In related news, CFO Steven Pantelick sold 4,673 shares of the stock in a transaction on Wednesday, April 5th. The stock was sold at an average price of $13.43, for a total transaction of $62,758.39. Following the sale, the chief financial officer now owns 17,442 shares in the company, valued at approximately $234,246.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Rajeev K. Goel sold 30,000 shares of the stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $13.78, for a total transaction of $413,400.00. Following the sale, the chief executive officer now owns 17,449 shares in the company, valued at approximately $240,447.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Steven Pantelick sold 4,673 shares of the stock in a transaction on Wednesday, April 5th. The shares were sold at an average price of $13.43, for a total value of $62,758.39. Following the sale, the chief financial officer now owns 17,442 shares in the company, valued at approximately $234,246.06. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 59,544 shares of company stock worth $816,344. Company insiders own 2.00% of the company’s stock.

PubMatic Profile

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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.