Bank of America Corp DE Sells 34,276 Shares of PubMatic, Inc. (NASDAQ:PUBM)

Bank of America Corp DE reduced its stake in shares of PubMatic, Inc. (NASDAQ:PUBM - Free Report) by 42.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,912 shares of the company's stock after selling 34,276 shares during the period. Bank of America Corp DE owned 0.10% of PubMatic worth $689,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in PUBM. BNP Paribas Financial Markets acquired a new stake in shares of PubMatic during the fourth quarter worth $431,000. Northern Trust Corp raised its stake in PubMatic by 2.9% during the fourth quarter. Northern Trust Corp now owns 383,246 shares of the company's stock worth $5,630,000 after purchasing an additional 10,749 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of PubMatic by 10.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 27,025 shares of the company's stock valued at $397,000 after purchasing an additional 2,647 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings 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 last quarter. Finally, Transce3nd LLC acquired a new stake in shares of PubMatic during the 4th quarter worth $567,000. Institutional investors and hedge funds own 64.26% of the company's stock.

Analysts Set New Price Targets

PUBM has been the subject of a number of research analyst reports. Scotiabank dropped 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. Lake Street Capital cut their target price on shares of PubMatic from $21.00 to $19.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Finally, Royal Bank of Canada lowered their price target on PubMatic from $17.00 to $14.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Four equities research 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 stock has an average rating of "Moderate Buy" and a consensus price target of $19.11.

Insider Activity at PubMatic

In related news, CFO Steven Pantelick sold 4,000 shares of the stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $9.83, for a total value of $39,320.00. Following the completion of the transaction, the chief financial officer now directly owns 27,026 shares of the company's stock, valued at $265,665.58. This represents a 12.89% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Rajeev K. Goel sold 25,000 shares of the firm's stock in a transaction on Tuesday, April 1st. The shares were 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 in the company, valued at $295,258.56. This trade represents a 43.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 111,157 shares of company stock worth $1,124,437 in the last ninety days. 26.42% of the stock is owned by insiders.

PubMatic Stock Down 1.2%

NASDAQ:PUBM traded down $0.14 during trading hours on Thursday, reaching $11.40. 59,782 shares of the stock were exchanged, compared to its average volume of 488,401. PubMatic, Inc. has a 52 week low of $7.46 and a 52 week high of $22.99. The stock has a market capitalization of $553.21 million, a P/E ratio of 36.77 and a beta of 1.54. The firm has a 50 day simple moving average of $10.39 and a 200-day simple moving average of $12.67.

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