BNP Paribas Financial Markets Makes New Investment in PubMatic, Inc. (NASDAQ:PUBM)

BNP Paribas Financial Markets acquired a new position in PubMatic, Inc. (NASDAQ:PUBM - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 29,328 shares of the company's stock, valued at approximately $431,000. BNP Paribas Financial Markets owned approximately 0.06% of PubMatic as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. bought a new stake in shares of PubMatic in the 4th quarter valued at about $27,000. JPMorgan Chase & Co. raised its stake in PubMatic by 263.0% in the fourth quarter. JPMorgan Chase & Co. now owns 226,328 shares of the company's stock valued at $3,325,000 after buying an additional 163,979 shares during the period. Tower Research Capital LLC TRC raised its stake in PubMatic by 75.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,220 shares of the company's stock valued at $77,000 after acquiring an additional 2,240 shares during the period. Principal Financial Group Inc. raised its stake in PubMatic by 9.7% in the 4th quarter. Principal Financial Group Inc. now owns 25,178 shares of the company's stock valued at $370,000 after acquiring an additional 2,234 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of PubMatic by 5.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,533,718 shares of the company's stock valued at $22,531,000 after purchasing an additional 84,317 shares during the period. 64.26% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Rajeev K. Goel sold 25,000 shares of the firm's stock in a transaction that occurred 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Andrew Woods sold 4,111 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $9.31, for a total value of $38,273.41. Following the completion of the transaction, the general counsel now owns 39,509 shares in the company, valued at $367,828.79. This represents a 9.42% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 81,089 shares of company stock worth $768,362. Corporate insiders own 26.42% of the company's stock.

PubMatic Price Performance

Shares of PubMatic stock traded up $0.03 on Friday, hitting $11.86. 86,405 shares of the company's stock traded hands, compared to its average volume of 482,087. PubMatic, Inc. has a one year low of $7.46 and a one year high of $23.69. The company has a fifty day moving average of $9.94 and a two-hundred day moving average of $12.90. The company has a market capitalization of $575.53 million, a price-to-earnings ratio of 38.25 and a beta of 1.49.

PubMatic (NASDAQ:PUBM - Get Free Report) last issued its earnings results 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). The company had revenue of $63.83 million for 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%. The firm's revenue was down 4.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.05) earnings per share. Equities research analysts anticipate that PubMatic, Inc. will post 0.22 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have weighed in on PUBM. Lake Street Capital lowered their price target on shares of PubMatic from $21.00 to $19.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Scotiabank lowered their target price on PubMatic from $17.00 to $15.00 and set a "sector perform" rating on the stock in a research note on Friday, February 28th. Finally, Royal Bank of Canada lowered their price objective on PubMatic from $17.00 to $14.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, PubMatic has a consensus rating of "Moderate Buy" and an average target price of $19.11.

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.