Dimensional Fund Advisors LP Raises Stock Holdings in PubMatic, Inc. (NASDAQ:PUBM)

Dimensional Fund Advisors LP lifted its stake in shares of PubMatic, Inc. (NASDAQ:PUBM - Free Report) by 5.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,533,718 shares of the company's stock after acquiring an additional 84,317 shares during the period. Dimensional Fund Advisors LP owned 3.21% of PubMatic worth $22,531,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Avestar Capital LLC bought a new stake in shares of PubMatic in the 4th quarter worth $4,701,000. Nordea Investment Management AB grew its holdings in PubMatic by 377.4% during the fourth quarter. Nordea Investment Management AB now owns 340,544 shares of the company's stock valued at $5,101,000 after purchasing an additional 269,217 shares during the period. JPMorgan Chase & Co. grew its holdings in PubMatic by 263.0% during the fourth quarter. JPMorgan Chase & Co. now owns 226,328 shares of the company's stock valued at $3,325,000 after purchasing an additional 163,979 shares during the period. Wellington Management Group LLP grew its holdings in PubMatic by 19.4% during the fourth quarter. Wellington Management Group LLP now owns 897,970 shares of the company's stock valued at $13,191,000 after purchasing an additional 145,641 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in PubMatic during the fourth quarter valued at $1,216,000. Institutional investors and hedge funds own 64.26% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Royal Bank of Canada cut their target price 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. Lake Street Capital cut their target price on shares of PubMatic from $21.00 to $19.00 and set a "buy" rating for the company in a research report on Friday. Scotiabank cut their target price on shares of PubMatic from $17.00 to $15.00 and set a "sector perform" rating for the company in a research report on Friday, February 28th. Finally, JMP Securities reiterated a "market outperform" rating and set a $20.00 target price on shares of PubMatic in a research report on Monday, January 27th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, PubMatic presently has a consensus rating of "Moderate Buy" and a consensus price target of $19.11.

Insider Activity at PubMatic

In other PubMatic news, CEO Rajeev K. Goel sold 25,000 shares of PubMatic stock in a transaction that occurred 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Mukul Kumar sold 5,401 shares of PubMatic stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $9.31, for a total transaction of $50,283.31. Following the transaction, the insider now directly owns 60,465 shares in the company, valued at $562,929.15. This trade represents a 8.20% 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 valued at $756,057 over the last three months. 2.90% of the stock is owned by corporate insiders.

PubMatic Trading Up 4.8%

Shares of PUBM stock traded up $0.53 during trading hours on Monday, reaching $11.62. The stock had a trading volume of 148,160 shares, compared to its average volume of 474,840. The stock's fifty day simple moving average is $9.43 and its 200 day simple moving average is $13.23. PubMatic, Inc. has a 12 month low of $7.46 and a 12 month high of $24.50. The firm has a market capitalization of $563.88 million, a PE ratio of 37.25 and a beta of 1.49.

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

PubMatic Company 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.