Arrowstreet Capital Limited Partnership Makes New Investment in PubMatic, Inc. $PUBM

Key Points

• Arrowstreet Capital initiated a new PubMatic position by purchasing 206,287 shares worth approximately $1.69 million, representing about 0.44% of the company. Institutional investors and hedge funds collectively own 64.26% of PUBM.
• PubMatic reported quarterly revenue of $62.57 million, exceeding analyst expectations, while its adjusted loss of $0.27 per share was narrower than forecasts. Shares opened at $13.51, near their 52-week high of $14.04.
• Analyst sentiment remains generally positive, with a consensus rating of “Moderate Buy” and a $12.88 target price, although insiders sold 324,284 shares worth nearly $4.0 million over the past quarter.

Arrowstreet Capital Limited Partnership purchased a new position in shares of PubMatic, Inc. (NASDAQ:PUBM - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 206,287 shares of the company's stock, valued at approximately $1,687,000. Arrowstreet Capital Limited Partnership owned approximately 0.44% of PubMatic at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in PUBM. Quarry LP acquired a new stake in PubMatic during the 4th quarter worth approximately $30,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of PubMatic by 75.6% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 4,449 shares of the company's stock worth $39,000 after acquiring an additional 1,915 shares in the last quarter. State of Wyoming acquired a new position in shares of PubMatic in the 1st quarter valued at approximately $61,000. Tower Research Capital LLC TRC boosted its stake in PubMatic by 264.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,878 shares of the company's stock valued at $61,000 after acquiring an additional 3,541 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its stake in shares of PubMatic by 120.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 8,875 shares of the company's stock valued at $73,000 after purchasing an additional 4,856 shares in the last quarter. 64.26% of the stock is currently owned by institutional investors and hedge funds.

PubMatic Stock Performance

Shares of NASDAQ PUBM opened at $13.51 on Thursday. The business has a 50 day simple moving average of $12.48 and a 200 day simple moving average of $9.83. PubMatic, Inc. has a 52 week low of $6.15 and a 52 week high of $14.04. The stock has a market cap of $627.40 million, a price-to-earnings ratio of -35.55 and a beta of 1.54.

PubMatic (NASDAQ:PUBM - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.27) earnings per share for the quarter, topping analysts' consensus estimates of ($0.32) by $0.05. PubMatic had a negative return on equity of 6.98% and a negative net margin of 6.21%.The company had revenue of $62.57 million during the quarter, compared to analysts' expectations of $60.42 million. On average, analysts predict that PubMatic, Inc. will post -0.26 EPS for the current year.

Wall Street Analysts Forecast Growth

PUBM has been the topic of several research analyst reports. Royal Bank Of Canada raised their price objective on PubMatic from $11.00 to $13.00 and gave the stock an "outperform" rating in a research note on Friday, May 8th. Wall Street Zen upgraded PubMatic from a "sell" rating to a "hold" rating in a research report on Saturday, April 25th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of PubMatic in a report on Friday, July 17th. B. Riley Financial reaffirmed a "buy" rating on shares of PubMatic in a research note on Friday, May 8th. Finally, Rosenblatt Securities restated a "buy" rating and set a $21.00 price objective on shares of PubMatic in a research report on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, PubMatic presently has an average rating of "Moderate Buy" and a consensus target price of $12.88.

Insider Buying and Selling

In other PubMatic news, CEO Rajeev K. Goel sold 58,854 shares of the firm's stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $13.68, for a total value of $805,122.72. Following the sale, the chief executive officer directly owned 47,301 shares in the company, valued at $647,077.68. This trade represents a 55.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Mukul Kumar sold 8,000 shares of PubMatic stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $11.96, for a total value of $95,680.00. Following the sale, the insider directly owned 100,869 shares in the company, valued at $1,206,393.24. The trade was a 7.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 324,284 shares of company stock valued at $3,994,693. 27.78% of the stock is owned by company insiders.

About PubMatic

PubMatic is a cloud-based digital advertising technology company that provides a supply-side platform (SSP) enabling publishers to automate and optimize the sale of their ad inventory across display, mobile, video and connected TV channels. Its core offerings include real-time bidding infrastructure, header bidding solutions under the OpenWrap brand and data analytics tools that deliver actionable insights on audience engagement and monetization performance. By facilitating seamless auctions and providing transparent reporting, PubMatic helps publishers maximize yield while improving buyer experiences.

Founded in 2006 by Rajeev Goel and a team of ad-tech veterans, PubMatic grew from an early entrant in programmatic selling to a publicly traded company, listing on the Nasdaq symbol: PUBM in December 2020.

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