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

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

A number of other hedge funds also recently made changes to their positions in PUBM. The Manufacturers Life Insurance Company bought a new position in shares of PubMatic during the 1st quarter valued at approximately $21,971,000. State Street Corp lifted its holdings in PubMatic by 471.4% in the 2nd quarter. State Street Corp now owns 753,049 shares of the company’s stock worth $11,966,000 after purchasing an additional 621,258 shares in the last quarter. Nuveen Asset Management LLC lifted its holdings in PubMatic by 260.3% in the 3rd quarter. Nuveen Asset Management LLC now owns 487,111 shares of the company’s stock worth $8,100,000 after purchasing an additional 351,918 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in PubMatic by 462.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 412,626 shares of the company’s stock worth $10,778,000 after purchasing an additional 339,233 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in PubMatic by 13.8% in the 1st quarter. Vanguard Group Inc. now owns 2,682,842 shares of the company’s stock worth $70,076,000 after purchasing an additional 325,631 shares in the last quarter. 41.61% of the stock is currently owned by institutional investors.

Insider Buying and Selling at PubMatic

In other PubMatic news, CEO Rajeev K. Goel sold 30,000 shares of the company’s stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $13.78, for a total value of $413,400.00. Following the transaction, the chief executive officer now owns 17,449 shares of the company’s stock, valued at approximately $240,447.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Chairman Amar K. Goel sold 2,577 shares of the stock in a transaction on Wednesday, April 5th. The stock was sold at an average price of $13.42, for a total transaction of $34,583.34. Following the transaction, the chairman now owns 1,309 shares of the company’s stock, valued at approximately $17,566.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 value of $413,400.00. Following the transaction, the chief executive officer now directly owns 17,449 shares in the company, valued at approximately $240,447.22. The disclosure for this sale can be found here. Insiders have sold 59,544 shares of company stock valued at $816,344 in the last quarter. 2.00% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms recently commented on PUBM. Royal Bank of Canada lowered their price target on PubMatic from $24.00 to $20.00 and set an “outperform” rating on the stock in a report on Wednesday, March 1st. Vertical Research cut PubMatic to a “neutral” rating in a report on Tuesday, January 24th. B. Riley began coverage on PubMatic in a report on Wednesday, April 12th. They set a “buy” rating and a $20.00 price objective on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $21.00 price objective on shares of PubMatic in a report on Thursday, March 16th. Finally, Oppenheimer decreased their price objective on PubMatic from $23.00 to $17.00 and set an “outperform” rating on the stock in a report on Wednesday, March 1st. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $18.38.

PubMatic Stock Performance

NASDAQ:PUBM opened at $16.26 on Monday. The stock’s fifty day moving average is $13.77 and its 200 day moving average is $14.33. PubMatic, Inc. has a fifty-two week low of $11.73 and a fifty-two week high of $23.60. The firm has a market capitalization of $844.54 million, a PE ratio of 52.45 and a beta of 0.87.

PubMatic (NASDAQ:PUBM – Get Rating) last announced its quarterly earnings data on Tuesday, February 28th. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.02). The business had revenue of $74.30 million during the quarter, compared to the consensus estimate of $76.74 million. PubMatic had a net margin of 7.02% and a return on equity of 9.89%. Equities analysts forecast that PubMatic, Inc. will post 0.14 EPS for the current year.

PubMatic Profile

(Get Rating)

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.