Millennium Management LLC Grows Stock Position 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 Securities and Exchange Commission (SEC). The institutional investor owned 361,381 shares of the company's stock after acquiring an additional 156,095 shares during the quarter. Millennium Management LLC owned approximately 0.76% of PubMatic worth $5,309,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PUBM. Pitcairn Co. boosted its stake in shares of PubMatic by 7.3% in the 4th quarter. Pitcairn Co. now owns 21,654 shares of the company's stock valued at $318,000 after buying an additional 1,477 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of PubMatic in the 4th quarter valued at about $27,000. Cubist Systematic Strategies LLC purchased a new position in shares of PubMatic in the 4th quarter valued at about $29,000. Principal Financial Group Inc. boosted its stake in shares of 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 buying an additional 2,234 shares during the period. Finally, Tower Research Capital LLC TRC boosted its stake in shares of 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 buying an additional 2,240 shares during the period. 64.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PUBM. Royal Bank of Canada decreased their price objective on PubMatic from $17.00 to $14.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Scotiabank decreased their price objective on PubMatic from $17.00 to $15.00 and set a "sector perform" rating for the company in a research note on Friday, February 28th. Finally, Lake Street Capital decreased their price objective on PubMatic from $21.00 to $19.00 and set a "buy" rating for the company in a research note 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 company. According to data from MarketBeat.com, PubMatic currently has an average rating of "Moderate Buy" and an average target price of $19.11.

Insiders Place Their Bets

In other PubMatic news, CEO Rajeev K. Goel sold 25,000 shares of PubMatic stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $9.14, for a total transaction of $228,500.00. Following the transaction, the chief executive officer now owns 32,304 shares of the company's stock, valued at $295,258.56. The trade was a 43.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Steven Pantelick sold 4,000 shares of PubMatic stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $9.83, for a total value of $39,320.00. Following the transaction, the chief financial officer now directly owns 27,026 shares in the company, valued at approximately $265,665.58. This trade represents 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 quarter. Company insiders own 26.42% of the company's stock.

PubMatic Trading Up 1.5%

PUBM stock traded up $0.18 during trading on Monday, hitting $11.88. 739,662 shares of the company's stock were exchanged, compared to its average volume of 485,683. The business has a 50-day moving average price of $10.00 and a two-hundred day moving average price of $12.80. The stock has a market capitalization of $576.50 million, a price-to-earnings ratio of 38.32 and a beta of 1.49. PubMatic, Inc. has a 52-week low of $7.46 and a 52-week high of $22.99.

PubMatic (NASDAQ:PUBM - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.20) earnings per share 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 analysts' expectations of $62.07 million. PubMatic had a return on equity of 6.12% and a net margin of 5.96%. PubMatic's revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.05) EPS. On average, equities research analysts anticipate 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.