PubMatic, Inc. (NASDAQ:PUBM) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lessened its holdings in shares of PubMatic, Inc. (NASDAQ:PUBM) by 11.4% during the 4th quarter, HoldingsChannel reports. The firm owned 385,088 shares of the company’s stock after selling 49,779 shares during the period. Charles Schwab Investment Management Inc.’s holdings in PubMatic were worth $5,657,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of PUBM. SBI Securities Co. Ltd. acquired a new position in PubMatic during the fourth quarter worth about $27,000. FMR LLC lifted its stake in PubMatic by 201.6% in the 3rd 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. Intech Investment Management LLC acquired a new position in shares of PubMatic during the 3rd quarter worth approximately $170,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of PubMatic by 37.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,593 shares of the company’s stock valued at $187,000 after purchasing an additional 3,461 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of PubMatic in the third quarter valued at approximately $240,000. Hedge funds and other institutional investors own 64.26% of the company’s stock.

Analyst Ratings Changes

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

PubMatic Stock Performance

NASDAQ:PUBM opened at $9.90 on Tuesday. PubMatic, Inc. has a fifty-two week low of $9.07 and a fifty-two week high of $25.36. The company has a 50 day moving average price of $13.39 and a 200 day moving average price of $14.58. The stock has a market capitalization of $480.42 million, a P/E ratio of 31.94 and a beta of 1.48.

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

Insider Activity at PubMatic

In other news, insider Mukul Kumar sold 7,000 shares of PubMatic stock in a transaction on Monday, February 10th. The shares were sold at an average price of $16.51, for a total transaction of $115,570.00. Following the completion of the sale, the insider now directly owns 52,005 shares of the company’s stock, valued at approximately $858,602.55. The trade was a 11.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Rajeev K. Goel sold 24,891 shares of PubMatic stock in a transaction dated 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 directly owns 5,896 shares of the company’s stock, valued at $89,265.44. This trade represents 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 sold 94,811 shares of company stock worth $1,438,381. Company insiders own 2.90% of the company’s stock.

About PubMatic

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.