Janney Montgomery Scott LLC Buys Shares of 41,503 PubMatic, Inc. (NASDAQ:PUBM)

Janney Montgomery Scott LLC purchased a new stake in shares of PubMatic, Inc. (NASDAQ:PUBM - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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 & Exchange Commission.

Several other large investors have also recently modified their holdings of the business. SBI Securities Co. Ltd. acquired a new stake in shares of PubMatic during the fourth quarter worth $27,000. Cubist Systematic Strategies LLC acquired a new stake in shares of PubMatic during the fourth quarter worth $29,000. GAMMA Investing LLC increased its position in shares of PubMatic by 23,208.3% during the first quarter. GAMMA Investing LLC now owns 2,797 shares of the company's stock worth $26,000 after buying an additional 2,785 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of PubMatic during the fourth quarter worth $57,000. Finally, Tower Research Capital LLC TRC increased its position in shares of PubMatic by 75.2% during the fourth 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 period. Institutional investors own 64.26% of the company's stock.

Insider Buying and Selling at PubMatic

In related news, CEO Rajeev K. Goel sold 44,000 shares of the business's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $11.02, for a total transaction of $484,880.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Amar K. Goel sold 4,417 shares of the business's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $12.56, for a total transaction of $55,477.52. Following the transaction, the chairman owned 20,516 shares in the company, valued at approximately $257,680.96. This trade represents a 17.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 182,294 shares of company stock valued at $2,123,986 in the last quarter. 26.42% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

PubMatic Price Performance

Shares of NASDAQ:PUBM traded up $0.11 during midday trading on Tuesday, hitting $12.55. 375,403 shares of the company's stock were exchanged, compared to its average volume of 493,962. The stock has a 50 day moving average price of $11.45 and a 200-day moving average price of $12.05. The company has a market cap of $609.05 million, a PE ratio of 156.89 and a beta of 1.54. PubMatic, Inc. has a 12 month low of $7.46 and a 12 month high of $22.99.

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). 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 company's revenue was down 4.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.05) earnings per share. On average, analysts anticipate that PubMatic, Inc. will post 0.22 EPS for the current fiscal 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.