PubMatic, Inc. (NASDAQ:PUBM) Shares Sold by Algert Global LLC

Algert Global LLC cut its position in PubMatic, Inc. (NASDAQ:PUBM - Free Report) by 67.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 53,154 shares of the company's stock after selling 112,365 shares during the quarter. Algert Global LLC owned approximately 0.11% of PubMatic worth $781,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in PUBM. Avestar Capital LLC purchased a new stake in PubMatic during the 4th quarter valued at approximately $4,701,000. Nordea Investment Management AB raised its stake in shares of PubMatic by 377.4% during the 4th quarter. Nordea Investment Management AB now owns 340,544 shares of the company's stock worth $5,101,000 after buying an additional 269,217 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of PubMatic by 263.0% during the 4th quarter. JPMorgan Chase & Co. now owns 226,328 shares of the company's stock worth $3,325,000 after buying an additional 163,979 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of PubMatic by 19.4% during the 4th quarter. Wellington Management Group LLP now owns 897,970 shares of the company's stock worth $13,191,000 after buying an additional 145,641 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of PubMatic by 5.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,533,718 shares of the company's stock worth $22,531,000 after buying an additional 84,317 shares in the last quarter. 64.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PUBM has been the subject of a number of analyst reports. JMP Securities reissued a "market outperform" rating and set a $20.00 target price on shares of PubMatic in a research note on Monday, January 27th. Lake Street Capital cut their target price on PubMatic from $21.00 to $19.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Royal Bank of Canada cut their target price on PubMatic from $17.00 to $14.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Finally, Scotiabank dropped their price objective on PubMatic from $17.00 to $15.00 and set a "sector perform" rating for the company in a research note on Friday, February 28th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, PubMatic presently has an average rating of "Moderate Buy" and a consensus target price of $19.11.

Insider Transactions at PubMatic

In related news, CEO Rajeev K. Goel sold 25,000 shares of the stock in a transaction 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 transaction, the chief executive officer now directly owns 32,304 shares of the company's stock, valued at approximately $295,258.56. This trade represents a 43.63% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Amar K. Goel sold 4,446 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $9.31, for a total value of $41,392.26. Following the completion of the transaction, the chairman now directly owns 18,401 shares in the company, valued at $171,313.31. This trade represents a 19.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 80,019 shares of company stock worth $756,057 over the last quarter. 2.90% of the stock is currently owned by insiders.

PubMatic Price Performance

NASDAQ:PUBM traded down $0.02 during trading hours on Friday, reaching $11.54. 236,973 shares of the company traded hands, compared to its average volume of 479,735. The firm's 50-day moving average is $9.55 and its 200-day moving average is $13.16. The stock has a market cap of $559.76 million, a P/E ratio of 37.00 and a beta of 1.49. PubMatic, Inc. has a 1-year low of $7.46 and a 1-year high of $24.50.

PubMatic (NASDAQ:PUBM - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.18). PubMatic had a return on equity of 6.12% and a net margin of 5.96%. The business had revenue of $63.83 million for the quarter, compared to analyst estimates of $62.07 million. During the same quarter last year, the business earned ($0.05) EPS. PubMatic's revenue for the quarter was down 4.3% compared to the same quarter last year. As a group, research analysts predict that PubMatic, Inc. will post 0.22 earnings per share for the current year.

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.