Vanguard Group Inc. Decreases Position in PubMatic, Inc. (NASDAQ:PUBM)

Vanguard Group Inc. reduced its stake in PubMatic, Inc. (NASDAQ:PUBM) by 2.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,240,289 shares of the company’s stock after selling 110,613 shares during the period. Vanguard Group Inc. owned 0.09% of PubMatic worth $62,290,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. purchased a new position in shares of PubMatic in the 4th quarter valued at $27,000. Principal Financial Group Inc. boosted its stake in PubMatic by 9.7% in the fourth quarter. Principal Financial Group Inc. now owns 25,178 shares of the company’s stock valued at $370,000 after acquiring an additional 2,234 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of PubMatic by 0.9% during the fourth quarter. American Century Companies Inc. now owns 271,864 shares of the company’s stock worth $3,994,000 after purchasing an additional 2,461 shares during the last quarter. FMR LLC increased its position in shares of PubMatic by 201.6% during the third quarter. FMR LLC now owns 4,053 shares of the company’s stock worth $60,000 after purchasing an additional 2,709 shares in the last quarter. Finally, LPL Financial LLC lifted its holdings in shares of PubMatic by 5.1% in the 4th quarter. LPL Financial LLC now owns 112,250 shares of the company’s stock valued at $1,634,000 after purchasing an additional 5,432 shares during the last quarter. Institutional investors and hedge funds own 64.26% of the company’s stock.

PubMatic Stock Performance

PUBM stock opened at $8.48 on Friday. PubMatic, Inc. has a one year low of $7.46 and a one year high of $25.36. The company has a fifty day moving average of $11.46 and a 200-day moving average of $13.97. The stock has a market capitalization of $411.51 million, a PE ratio of 27.35 and a beta of 1.50.

PubMatic (NASDAQ:PUBM) last announced its quarterly earnings data on Thursday, February 27th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.11). The business had revenue of $85.50 million for the quarter, compared to analyst estimates of $88.24 million. PubMatic had a return on equity of 6.12% and a net margin of 5.96%. Equities analysts forecast that PubMatic, Inc. will post 0.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Scotiabank cut their price target on PubMatic from $17.00 to $15.00 and set a “sector perform” rating on the stock in a research report on Friday, February 28th. JMP Securities reaffirmed a “market outperform” rating and issued a $20.00 target price on shares of PubMatic in a report on Monday, January 27th. Lake Street Capital lowered their price objective on shares of PubMatic from $24.00 to $21.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Finally, Royal Bank of Canada dropped their price objective on shares of PubMatic from $21.00 to $19.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.89.

Insiders Place Their Bets

In related news, CEO Rajeev K. Goel sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $9.14, for a total value of $228,500.00. Following the completion of the transaction, the chief executive officer now directly owns 32,304 shares of the company’s stock, valued at $295,258.56. This trade represents a 43.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Rajeev K. Goel sold 24,891 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $15.14, for a total value of $376,849.74. Following the sale, the chief executive officer now owns 5,896 shares in the company, valued at approximately $89,265.44. The trade was a 80.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 87,210 shares of company stock worth $1,028,124. 2.90% of the stock is owned by company insiders.

PubMatic Profile

PubMatic, Inc, a technology company, engages in the provision of a cloud infrastructure platform that enables real-time programmatic advertising transactions for digital content creators, advertisers, agencies, agency trading desks, and demand side platforms worldwide. Its PubMatic SSP, a sell-side platform, used for the purchase and sale of digital advertising inventory for publishers and buyers.