Cetera Investment Advisers Takes Position in PubMatic, Inc. (NASDAQ:PUBM)

Cetera Investment Advisers purchased a new stake in shares of PubMatic, Inc. (NASDAQ:PUBM - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 22,520 shares of the company's stock, valued at approximately $331,000.

A number of other hedge funds also recently bought and sold shares of the business. Pitcairn Co. grew its holdings in shares of PubMatic by 7.3% during the 4th quarter. Pitcairn Co. now owns 21,654 shares of the company's stock worth $318,000 after acquiring an additional 1,477 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of PubMatic during the 4th quarter worth approximately $27,000. Principal Financial Group Inc. grew its holdings in shares of PubMatic by 9.7% during the 4th quarter. Principal Financial Group Inc. now owns 25,178 shares of the company's stock worth $370,000 after acquiring an additional 2,234 shares during the period. Tower Research Capital LLC TRC grew 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 acquiring an additional 2,240 shares during the period. Finally, American Century Companies Inc. grew its holdings in shares of PubMatic by 0.9% during the 4th quarter. American Century Companies Inc. now owns 271,864 shares of the company's stock worth $3,994,000 after acquiring an additional 2,461 shares during the period. Hedge funds and other institutional investors own 64.26% of the company's stock.

Wall Street Analysts Forecast Growth

PUBM has been the topic of a number of research analyst reports. Scotiabank reduced their target price on PubMatic from $17.00 to $15.00 and set a "sector perform" rating on the stock in a report on Friday, February 28th. Royal Bank of Canada reduced their target price on PubMatic from $17.00 to $14.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Finally, Lake Street Capital reduced their target price on PubMatic from $21.00 to $19.00 and set a "buy" rating on the stock in a report on Friday, May 9th. 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, the company has a consensus rating of "Moderate Buy" and a consensus price target of $19.11.

Insider Activity at PubMatic

In related news, CEO Rajeev K. Goel sold 25,000 shares of the company'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 directly owns 32,304 shares of the company's stock, valued at approximately $295,258.56. This represents a 43.63% decrease in their position. 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 the company'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 $50,283.31. Following the completion of 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. In the last three months, insiders have sold 106,089 shares of company stock valued at $1,063,362. 26.42% of the stock is owned by corporate insiders.

PubMatic Stock Performance

Shares of PUBM traded up $0.19 during mid-day trading on Tuesday, reaching $12.07. The company had a trading volume of 577,984 shares, compared to its average volume of 485,640. The firm has a 50-day moving average price of $10.04 and a 200 day moving average price of $12.80. PubMatic, Inc. has a 52 week low of $7.46 and a 52 week high of $22.99. The company has a market capitalization of $585.72 million, a price-to-earnings ratio of 38.94 and a beta of 1.49.

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