PubMatic, Inc. $PUBM Shares Sold by Avestar Capital LLC

Key Points

• Avestar Capital LLC cut its PubMatic stake by 46.4% in the fourth quarter, selling 130,000 shares and ending with 150,000 shares worth about $1.33 million.
• PubMatic continues to draw mixed but mostly positive analyst sentiment, with a consensus rating of Moderate Buy and an average target price of $12.88; several firms recently raised targets or reiterated buy ratings.
• The company beat earnings and revenue expectations in its latest quarter, reporting an EPS loss of $0.27 versus the expected $0.32 loss and revenue of $62.57 million, while insiders have also been selling shares in recent months.

Avestar Capital LLC lowered its position in shares of PubMatic, Inc. (NASDAQ:PUBM - Free Report) by 46.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 150,000 shares of the company's stock after selling 130,000 shares during the period. Avestar Capital LLC owned about 0.32% of PubMatic worth $1,330,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in PUBM. CenterBook Partners LP lifted its position in PubMatic by 239.0% in the third quarter. CenterBook Partners LP now owns 748,460 shares of the company's stock valued at $6,197,000 after purchasing an additional 527,650 shares during the period. Simcoe Capital LLC purchased a new position in PubMatic in the fourth quarter valued at about $3,625,000. UBS Group AG increased its holdings in PubMatic by 254.7% in the third quarter. UBS Group AG now owns 422,630 shares of the company's stock valued at $3,499,000 after buying an additional 303,479 shares in the last quarter. Roubaix Capital LLC purchased a new position in PubMatic in the third quarter valued at about $2,247,000. Finally, Two Sigma Investments LP increased its holdings in PubMatic by 146.7% in the third quarter. Two Sigma Investments LP now owns 384,905 shares of the company's stock valued at $3,187,000 after buying an additional 228,878 shares in the last quarter. Institutional investors and hedge funds own 64.26% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PUBM. Royal Bank Of Canada increased their target price on shares of PubMatic from $11.00 to $13.00 and gave the company an "outperform" rating in a report on Friday, May 8th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $21.00 target price on shares of PubMatic in a report on Thursday, April 23rd. Weiss Ratings reaffirmed a "sell (d)" rating on shares of PubMatic in a report on Tuesday, April 21st. Lake Street Capital raised shares of PubMatic from a "hold" rating to a "strong-buy" rating in a report on Friday, February 27th. Finally, B. Riley Financial reaffirmed a "buy" rating on shares of PubMatic in a report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, PubMatic has an average rating of "Moderate Buy" and a consensus target price of $12.88.

PubMatic Stock Performance

Shares of PUBM opened at $11.88 on Friday. The company has a market capitalization of $551.71 million, a price-to-earnings ratio of -31.26 and a beta of 1.57. The company's 50 day simple moving average is $9.69 and its 200 day simple moving average is $8.68. PubMatic, Inc. has a 1 year low of $6.15 and a 1 year high of $13.88.

PubMatic (NASDAQ:PUBM - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.27) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.32) by $0.05. PubMatic had a negative net margin of 6.21% and a negative return on equity of 6.98%. The business had revenue of $62.57 million for the quarter, compared to the consensus estimate of $60.42 million. Equities analysts expect that PubMatic, Inc. will post -0.25 EPS for the current fiscal year.

Insider Activity at PubMatic

In other PubMatic news, CEO Rajeev K. Goel sold 49,916 shares of the business's stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $8.17, for a total transaction of $407,813.72. Following the completion of the sale, the chief executive officer directly owned 47,740 shares in the company, valued at $390,035.80. The trade was a 51.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Steven Pantelick sold 16,747 shares of the business's stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $8.17, for a total transaction of $136,822.99. Following the transaction, the chief financial officer directly owned 57,601 shares in the company, valued at approximately $470,600.17. The trade was a 22.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 289,876 shares of company stock worth $2,622,647. 27.78% of the stock is currently owned by company insiders.

PubMatic Profile

PubMatic is a cloud-based digital advertising technology company that provides a supply-side platform (SSP) enabling publishers to automate and optimize the sale of their ad inventory across display, mobile, video and connected TV channels. Its core offerings include real-time bidding infrastructure, header bidding solutions under the OpenWrap brand and data analytics tools that deliver actionable insights on audience engagement and monetization performance. By facilitating seamless auctions and providing transparent reporting, PubMatic helps publishers maximize yield while improving buyer experiences.

Founded in 2006 by Rajeev Goel and a team of ad-tech veterans, PubMatic grew from an early entrant in programmatic selling to a publicly traded company, listing on the Nasdaq symbol: PUBM in December 2020.

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