Barclays PLC Sells 30,461 Shares of PubMatic, Inc. (NASDAQ:PUBM)

Barclays PLC decreased its holdings in shares of PubMatic, Inc. (NASDAQ:PUBM - Free Report) by 23.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 98,735 shares of the company's stock after selling 30,461 shares during the period. Barclays PLC owned approximately 0.21% of PubMatic worth $1,450,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Avestar Capital LLC bought a new stake in shares of PubMatic during the 4th quarter valued at about $4,701,000. Nordea Investment Management AB raised its holdings in PubMatic by 377.4% during the 4th quarter. Nordea Investment Management AB now owns 340,544 shares of the company's stock valued at $5,101,000 after buying an additional 269,217 shares during the period. JPMorgan Chase & Co. increased its holdings in 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 purchasing an additional 163,979 shares during the period. Wellington Management Group LLP boosted its position in shares of PubMatic by 19.4% in the 4th quarter. Wellington Management Group LLP now owns 897,970 shares of the company's stock worth $13,191,000 after purchasing an additional 145,641 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of PubMatic during the 4th quarter valued at about $1,216,000. 64.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PUBM. Scotiabank reduced their price objective 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. JMP Securities reaffirmed a "market outperform" rating and issued a $20.00 price objective on shares of PubMatic in a research report on Monday, January 27th. Royal Bank of Canada decreased their price target on shares of PubMatic from $17.00 to $14.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Finally, Lake Street Capital dropped their price target on shares of PubMatic from $21.00 to $19.00 and set a "buy" rating on the stock in a research report on Friday. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $19.11.

Insider Activity

In related news, insider Mukul Kumar sold 7,000 shares of the business's stock in a transaction that occurred on Monday, February 10th. The stock was 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 owns 52,005 shares in the company, valued at $858,602.55. The trade was a 11.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Steven Pantelick sold 4,000 shares of PubMatic stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $9.83, for a total value of $39,320.00. Following the completion of the sale, the chief financial officer now directly owns 27,026 shares in the company, valued at $265,665.58. This represents a 12.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 87,019 shares of company stock valued at $871,627 in the last three months. 2.90% of the stock is currently owned by corporate insiders.

PubMatic Price Performance

NASDAQ:PUBM traded up $0.35 during trading hours on Friday, hitting $11.35. The stock had a trading volume of 858,579 shares, compared to its average volume of 527,442. The company has a 50 day simple moving average of $9.42 and a two-hundred day simple moving average of $13.28. PubMatic, Inc. has a one year low of $7.46 and a one year high of $24.50. The firm has a market capitalization of $550.78 million, a price-to-earnings ratio of 36.61 and a beta of 1.49.

PubMatic (NASDAQ:PUBM - Get Free Report) last issued 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 business had revenue of $63.83 million during the quarter, compared to the consensus estimate of $62.07 million. PubMatic had a return on equity of 6.12% and a net margin of 5.96%. PubMatic's revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter last year, the company earned ($0.05) EPS. Equities research analysts anticipate 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.