Algert Global LLC Lowers Stock Position in PubMatic, Inc. (NASDAQ:PUBM)

Algert Global LLC lessened its holdings in PubMatic, Inc. (NASDAQ:PUBM - Free Report) by 67.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 53,154 shares of the company's stock after selling 112,365 shares during the period. Algert Global LLC owned approximately 0.11% of PubMatic worth $781,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. bought a new stake in PubMatic during the 4th quarter worth about $27,000. Tower Research Capital LLC TRC grew its position in shares of PubMatic by 75.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,220 shares of the company's stock worth $77,000 after buying an additional 2,240 shares during the period. KLP Kapitalforvaltning AS acquired a new position in shares of PubMatic during the 4th quarter worth about $106,000. XTX Topco Ltd acquired a new position in shares of PubMatic during the 4th quarter worth about $228,000. Finally, Pitcairn Co. grew its position in shares of PubMatic by 7.3% during the 4th quarter. Pitcairn Co. now owns 21,654 shares of the company's stock worth $318,000 after buying an additional 1,477 shares during the period. Institutional investors and hedge funds own 64.26% of the company's stock.

Wall Street Analysts Forecast Growth

PUBM has been the subject of several analyst reports. JMP Securities restated a "market outperform" rating and set a $20.00 target price on shares of PubMatic in a research report on Monday, January 27th. Lake Street Capital decreased their price objective on PubMatic from $21.00 to $19.00 and set a "buy" rating for the company in a research report on Friday. Royal Bank of Canada decreased their price objective on PubMatic from $17.00 to $14.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Finally, Scotiabank decreased their price objective on PubMatic from $17.00 to $15.00 and set a "sector perform" rating for the company in a research report on Friday, February 28th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $19.11.

Insider Activity

In other PubMatic news, CEO Rajeev K. Goel sold 25,000 shares of the business's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $9.14, for a total transaction of $228,500.00. Following the completion of the sale, the chief executive officer now owns 32,304 shares in the company, valued at approximately $295,258.56. The trade was a 43.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Steven Pantelick sold 4,000 shares of the company's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $9.83, for a total transaction of $39,320.00. Following the completion of the sale, the chief financial officer now owns 27,026 shares of the company's stock, valued at approximately $265,665.58. The trade was a 12.89% decrease in their position. The disclosure for this sale can be found here. Insiders sold 80,019 shares of company stock worth $756,057 in the last quarter. 2.90% of the stock is owned by corporate insiders.

PubMatic Stock Up 0.5%

PubMatic stock traded up $0.06 during mid-day trading on Tuesday, hitting $11.58. 564,486 shares of the stock were exchanged, compared to its average volume of 479,032. PubMatic, Inc. has a 12 month low of $7.46 and a 12 month high of $24.50. The firm's fifty day simple moving average is $9.48 and its two-hundred day simple moving average is $13.19. The stock has a market capitalization of $561.94 million, a price-to-earnings ratio of 37.35 and a beta of 1.49.

PubMatic (NASDAQ:PUBM - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.18). The company had revenue of $63.83 million during the quarter, compared to the consensus estimate of $62.07 million. PubMatic had a net margin of 5.96% and a return on equity of 6.12%. The business's revenue was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.05) EPS. As a group, 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.