Millennium Management LLC Grows Stake in PubMatic, Inc. (NASDAQ:PUBM)

Millennium Management LLC raised its position in PubMatic, Inc. (NASDAQ:PUBM - Free Report) by 76.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 361,381 shares of the company's stock after buying an additional 156,095 shares during the period. Millennium Management LLC owned 0.76% of PubMatic worth $5,309,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of PUBM. SBI Securities Co. Ltd. purchased a new position in shares of PubMatic in the 4th quarter worth about $27,000. Cubist Systematic Strategies LLC purchased a new stake in PubMatic during the fourth quarter worth about $29,000. Tower Research Capital LLC TRC raised its position in PubMatic by 75.2% in the fourth 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. KLP Kapitalforvaltning AS bought a new stake in PubMatic in the fourth quarter worth about $106,000. Finally, XTX Topco Ltd purchased a new position in PubMatic in the fourth quarter valued at about $228,000. Institutional investors own 64.26% of the company's stock.

PubMatic Trading Down 1.0%

Shares of PUBM traded down $0.12 during trading hours on Friday, reaching $11.71. 645,253 shares of the company's stock traded hands, compared to its average volume of 484,998. PubMatic, Inc. has a 12 month low of $7.46 and a 12 month high of $23.50. The stock has a market cap of $568.25 million, a PE ratio of 37.77 and a beta of 1.49. The firm's 50 day simple moving average is $9.96 and its 200-day simple moving average is $12.87.

PubMatic (NASDAQ:PUBM - Get Free Report) last released 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). The company had revenue of $63.83 million during the quarter, compared to analysts' expectations of $62.07 million. PubMatic had a return on equity of 6.12% and a net margin of 5.96%. PubMatic's quarterly revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.05) EPS. As a group, analysts expect that PubMatic, Inc. will post 0.22 earnings per share for the current fiscal year.

Insider Activity at PubMatic

In other PubMatic news, CEO Rajeev K. Goel sold 25,000 shares of PubMatic stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $9.84, for a total transaction of $246,000.00. Following the transaction, the chief executive officer now directly owns 8,297 shares of the company's stock, valued at approximately $81,642.48. This trade represents a 75.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Steven Pantelick sold 4,000 shares of PubMatic stock in a transaction on Monday, May 5th. The stock was sold at an average price of $9.83, for a total transaction of $39,320.00. Following the completion of the transaction, the chief financial officer now owns 27,026 shares in the company, valued at approximately $265,665.58. The trade was a 12.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 81,089 shares of company stock valued at $768,362 over the last 90 days. 26.42% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PUBM. Lake Street Capital dropped their price target on PubMatic from $21.00 to $19.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Scotiabank lowered their price objective 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 cut their target price on shares of PubMatic from $17.00 to $14.00 and set an "outperform" rating for the company in a research report 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.com, PubMatic presently has a consensus rating of "Moderate Buy" and an average target price of $19.11.

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.