PubMatic, Inc. (NASDAQ:PUBM) Shares Sold by Swiss National Bank

Swiss National Bank lessened its stake in PubMatic, Inc. (NASDAQ:PUBM) by 4.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,000 shares of the company’s stock after selling 3,900 shares during the period. Swiss National Bank’s holdings in PubMatic were worth $1,131,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC lifted its holdings in shares of PubMatic by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 961,155 shares of the company’s stock valued at $14,295,000 after purchasing an additional 7,225 shares during the last quarter. Wellington Management Group LLP increased its position in PubMatic by 222.8% during the third quarter. Wellington Management Group LLP now owns 752,329 shares of the company’s stock worth $11,187,000 after buying an additional 519,275 shares during the period. Jacobs Levy Equity Management Inc. lifted its stake in PubMatic by 17.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 676,464 shares of the company’s stock valued at $10,059,000 after buying an additional 100,479 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of PubMatic by 122.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 434,867 shares of the company’s stock valued at $6,466,000 after acquiring an additional 239,406 shares during the period. Finally, Nordea Investment Management AB grew its position in shares of PubMatic by 377.4% during the fourth quarter. Nordea Investment Management AB now owns 340,544 shares of the company’s stock worth $5,101,000 after acquiring an additional 269,217 shares during the last quarter. Hedge funds and other institutional investors own 64.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Royal Bank of Canada reduced their price target 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. Scotiabank reduced their target price on shares of PubMatic from $17.00 to $15.00 and set a “sector perform” rating for the company in a report on Friday, February 28th. Lake Street Capital lowered their price target on PubMatic from $24.00 to $21.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $20.00 price objective on shares of PubMatic in a research note on Monday, January 27th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $19.89.

Insider Activity at PubMatic

In other PubMatic news, Chairman Amar K. Goel sold 4,087 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $14.84, for a total value of $60,651.08. Following the sale, the chairman now owns 14,044 shares of the company’s stock, valued at approximately $208,412.96. This represents a 22.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Andrew Woods sold 3,529 shares of PubMatic stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $14.84, for a total value of $52,370.36. Following the transaction, the general counsel now directly owns 34,702 shares of the company’s stock, valued at $514,977.68. This trade represents a 9.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 94,811 shares of company stock worth $1,438,381 over the last 90 days. Company insiders own 2.90% of the company’s stock.

PubMatic Trading Down 6.7 %

NASDAQ PUBM opened at $9.28 on Friday. PubMatic, Inc. has a 12-month low of $9.07 and a 12-month high of $25.36. The stock has a market capitalization of $450.33 million, a price-to-earnings ratio of 29.94 and a beta of 1.48. The business’s 50 day moving average is $13.04 and its two-hundred day moving average is $14.46.

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

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.