Janney Montgomery Scott LLC Takes Position in PubMatic, Inc. (NASDAQ:PUBM)

Janney Montgomery Scott LLC purchased a new position in shares of PubMatic, Inc. (NASDAQ:PUBM - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 41,503 shares of the company's stock, valued at approximately $379,000. Janney Montgomery Scott LLC owned about 0.09% of PubMatic as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its holdings in shares of PubMatic by 263.0% in the 4th quarter. JPMorgan Chase & Co. now owns 226,328 shares of the company's stock worth $3,325,000 after buying an additional 163,979 shares during the last quarter. Millennium Management LLC lifted its position in shares of PubMatic by 76.0% in the 4th quarter. Millennium Management LLC now owns 361,381 shares of the company's stock worth $5,309,000 after purchasing an additional 156,095 shares during the period. Wellington Management Group LLP lifted its position in shares of PubMatic by 19.4% in the 4th quarter. Wellington Management Group LLP now owns 897,970 shares of the company's stock worth $13,191,000 after purchasing an additional 145,641 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of PubMatic by 5.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,533,718 shares of the company's stock worth $22,531,000 after purchasing an additional 84,317 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of PubMatic in the 4th quarter worth about $1,216,000. 64.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at PubMatic

In other PubMatic news, Chairman Amar K. Goel sold 4,417 shares of the business's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $12.56, for a total transaction of $55,477.52. Following the sale, the chairman directly owned 20,516 shares in the company, valued at $257,680.96. This represents a 17.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Steven Pantelick sold 15,690 shares of the business's stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $12.82, for a total value of $201,145.80. Following the transaction, the chief financial officer directly owned 30,702 shares of the company's stock, valued at approximately $393,599.64. This represents a 33.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 182,294 shares of company stock worth $2,123,986 over the last 90 days. Corporate insiders own 26.42% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on PUBM shares. Lake Street Capital decreased their price target on shares of PubMatic from $21.00 to $19.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Royal Bank Of Canada reduced their price objective on shares of PubMatic from $17.00 to $14.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $19.11.

PubMatic Stock Performance

PUBM stock traded up $0.16 during mid-day trading on Friday, reaching $12.83. 235,174 shares of the stock traded hands, compared to its average volume of 494,575. PubMatic, Inc. has a one year low of $7.46 and a one year high of $22.99. The stock has a market capitalization of $622.40 million, a PE ratio of 160.33 and a beta of 1.54. The business has a 50-day moving average price of $11.35 and a two-hundred day moving average price of $12.11.

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 business 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 1.99% and a net margin of 1.90%. The firm's revenue was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.05) earnings per share. On average, equities analysts expect 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.