MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Decreases Stock Position in PubMatic, Inc. (NASDAQ:PUBM)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. cut its position in PubMatic, Inc. (NASDAQ:PUBM - Free Report) by 31.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 138,287 shares of the company's stock after selling 64,239 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.29% of PubMatic worth $2,031,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. SBI Securities Co. Ltd. acquired a new position in shares of PubMatic in the fourth quarter valued at about $27,000. JPMorgan Chase & Co. increased its holdings in shares of PubMatic by 263.0% in the fourth quarter. JPMorgan Chase & Co. now owns 226,328 shares of the company's stock valued at $3,325,000 after purchasing an additional 163,979 shares during the period. Tower Research Capital LLC TRC increased its holdings in shares of 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 during the period. Principal Financial Group Inc. increased its holdings in shares of PubMatic by 9.7% in the fourth quarter. Principal Financial Group Inc. now owns 25,178 shares of the company's stock valued at $370,000 after purchasing an additional 2,234 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of PubMatic by 5.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,533,718 shares of the company's stock valued at $22,531,000 after purchasing an additional 84,317 shares during the period. 64.26% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PUBM has been the topic of a number of research reports. Lake Street Capital cut their price objective on PubMatic from $21.00 to $19.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Scotiabank dropped their target price on PubMatic from $17.00 to $15.00 and set a "sector perform" rating on the stock in a report on Friday, February 28th. JMP Securities reaffirmed a "market outperform" rating and set a $20.00 target price on shares of PubMatic in a report on Monday, January 27th. Finally, Royal Bank of Canada dropped their target price on PubMatic from $17.00 to $14.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $19.11.

Insiders Place Their Bets

In other PubMatic news, CEO Rajeev K. Goel sold 25,000 shares of the 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 in the company, valued at approximately $295,258.56. This represents a 43.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Steven Pantelick sold 4,000 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $9.83, for a total value 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. This trade represents a 12.89% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 81,089 shares of company stock worth $768,362. 26.42% of the stock is owned by corporate insiders.

PubMatic Price Performance

PUBM stock traded up $0.42 during mid-day trading on Tuesday, reaching $11.71. 557,131 shares of the company's stock were exchanged, compared to its average volume of 482,147. The company has a market cap of $568.25 million, a price-to-earnings ratio of 37.77 and a beta of 1.49. The stock's 50 day moving average is $9.85 and its 200 day moving average is $12.94. PubMatic, Inc. has a 12-month low of $7.46 and a 12-month high of $24.50.

PubMatic (NASDAQ:PUBM - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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%. The business's revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.05) EPS. On average, research analysts forecast that PubMatic, Inc. will post 0.22 earnings per share for the current fiscal year.

PubMatic 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.