PubMatic, Inc. (NASDAQ:PUBM) Shares Sold by Voloridge Investment Management LLC

Voloridge Investment Management LLC lessened its stake in shares of PubMatic, Inc. (NASDAQ:PUBM - Free Report) by 50.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,323 shares of the company's stock after selling 62,695 shares during the quarter. Voloridge Investment Management LLC owned about 0.13% of PubMatic worth $901,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of PUBM. SBI Securities Co. Ltd. purchased a new position in PubMatic during the 4th quarter worth $27,000. JPMorgan Chase & Co. increased its stake in shares of PubMatic by 263.0% during the fourth quarter. JPMorgan Chase & Co. now owns 226,328 shares of the company's stock worth $3,325,000 after acquiring an additional 163,979 shares during the period. Tower Research Capital LLC TRC raised its holdings in PubMatic by 75.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,220 shares of the company's stock worth $77,000 after purchasing an additional 2,240 shares in the last quarter. Principal Financial Group Inc. raised its holdings in PubMatic by 9.7% during the fourth quarter. Principal Financial Group Inc. now owns 25,178 shares of the company's stock worth $370,000 after purchasing an additional 2,234 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in 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.

Insider Transactions at PubMatic

In other PubMatic news, CEO Rajeev K. Goel sold 25,000 shares of the firm's stock in a transaction 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 completion of the transaction, the chief executive officer now owns 32,304 shares of the company's stock, valued at approximately $295,258.56. This trade represents a 43.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Steven Pantelick sold 12,061 shares of the company's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $9.31, for a total value of $112,287.91. Following the completion of the sale, the chief financial officer now owns 41,410 shares in the company, valued at $385,527.10. This represents a 22.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 81,089 shares of company stock valued at $768,362 in the last ninety days. Corporate insiders own 26.42% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on PUBM shares. Lake Street Capital reduced their price target on PubMatic from $21.00 to $19.00 and set a "buy" rating for the company in a report on Friday, May 9th. Royal Bank of Canada cut their price objective on PubMatic from $17.00 to $14.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Finally, Scotiabank decreased their target price on shares of PubMatic from $17.00 to $15.00 and set a "sector perform" rating on the stock in a research report on Friday, February 28th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, PubMatic has an average rating of "Moderate Buy" and an average price target of $19.11.

PubMatic Price Performance

PUBM traded down $0.12 during trading on Friday, reaching $11.71. 645,253 shares of the stock were exchanged, compared to its average volume of 484,672. The company has a market capitalization of $568.25 million, a price-to-earnings ratio of 37.77 and a beta of 1.49. PubMatic, Inc. has a 1 year low of $7.46 and a 1 year high of $22.99. The business's 50 day moving average price is $9.96 and its two-hundred day moving average price is $12.87.

PubMatic (NASDAQ:PUBM - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.20) EPS for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.18). PubMatic had a net margin of 5.96% and a return on equity of 6.12%. The business had revenue of $63.83 million during the quarter, compared to analyst estimates of $62.07 million. During the same period in the previous year, the company posted ($0.05) earnings per share. PubMatic's revenue was down 4.3% on a year-over-year basis. On average, analysts anticipate that PubMatic, Inc. will post 0.22 EPS for the current year.

About PubMatic

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.