Pacer Advisors Inc. Purchases Shares of 268,637 PubMatic, Inc. (NASDAQ:PUBM)

Pacer Advisors Inc. acquired a new stake in shares of PubMatic, Inc. (NASDAQ:PUBM - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 268,637 shares of the company's stock, valued at approximately $2,455,000. Pacer Advisors Inc. owned about 0.55% of PubMatic as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in PUBM. GAMMA Investing LLC lifted its holdings in shares of PubMatic by 23,208.3% in 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 in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in PubMatic in the fourth quarter valued at approximately $29,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in PubMatic in the fourth quarter valued at approximately $57,000. Tower Research Capital LLC TRC raised its stake in PubMatic by 75.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,220 shares of the company's stock valued at $77,000 after purchasing an additional 2,240 shares in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in PubMatic in the fourth quarter valued at approximately $106,000. 64.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at PubMatic

In other news, CEO Rajeev K. Goel sold 33,001 shares of PubMatic stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $12.56, for a total value of $414,492.56. Following the completion of the transaction, the chief executive officer owned 32,515 shares of the company's stock, valued at $408,388.40. The trade was a 50.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Amar K. Goel sold 4,417 shares of PubMatic stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $12.56, for a total value of $55,477.52. Following the completion of the transaction, the chairman directly owned 20,516 shares of the company's stock, valued at approximately $257,680.96. This represents a 17.72% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 270,294 shares of company stock valued at $3,238,506. Company insiders own 26.42% of the company's stock.

PubMatic Price Performance

NASDAQ:PUBM traded down $0.89 during trading hours on Friday, hitting $11.12. The company had a trading volume of 522,821 shares, compared to its average volume of 506,443. The company has a market capitalization of $539.65 million, a PE ratio of 139.02 and a beta of 1.54. The stock has a 50-day moving average price of $12.05 and a 200 day moving average price of $11.78. PubMatic, Inc. has a 52 week low of $7.46 and a 52 week high of $20.48.

PubMatic (NASDAQ:PUBM - Get Free Report) last released its quarterly 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 company had revenue of $63.83 million during the quarter, compared to the consensus estimate of $62.07 million. PubMatic had a net margin of 1.90% and a return on equity of 1.99%. The business's revenue was down 4.3% on a year-over-year basis. During the same quarter last year, the firm earned ($0.05) EPS. Analysts anticipate that PubMatic, Inc. will post 0.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PUBM. Lake Street Capital lowered their target price on shares of PubMatic from $21.00 to $19.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Royal Bank Of Canada reduced their price target on shares of PubMatic from $17.00 to $14.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $18.38.

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.