Voloridge Investment Management LLC Trims Stake in PubMatic, Inc. (NASDAQ:PUBM)

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

Other institutional investors also recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in PubMatic in the fourth quarter worth about $57,000. ProShare Advisors LLC purchased a new stake in PubMatic in the 4th quarter worth approximately $173,000. Nuveen Asset Management LLC raised its stake in PubMatic by 1.1% during the 4th quarter. Nuveen Asset Management LLC now owns 436,076 shares of the company's stock worth $6,406,000 after acquiring an additional 4,603 shares during the period. Millennium Management LLC lifted its holdings in PubMatic by 76.0% during the fourth quarter. Millennium Management LLC now owns 361,381 shares of the company's stock valued at $5,309,000 after purchasing an additional 156,095 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its position in shares of PubMatic by 53.4% in the fourth quarter. Lazard Asset Management LLC now owns 117,149 shares of the company's stock worth $1,720,000 after purchasing an additional 40,785 shares during the period. 64.26% of the stock is owned by institutional investors.

PubMatic Price Performance

Shares of PUBM stock traded up $0.19 during trading hours on Tuesday, hitting $12.07. The stock had a trading volume of 577,984 shares, compared to its average volume of 485,640. The stock's 50-day moving average price is $10.04 and its two-hundred day moving average price is $12.80. PubMatic, Inc. has a one year low of $7.46 and a one year high of $22.99. The stock has a market capitalization of $585.72 million, a price-to-earnings ratio of 38.94 and a beta of 1.49.

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 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 analysts' expectations of $62.07 million. During the same period last year, the business posted ($0.05) earnings per share. The company's revenue for the quarter was down 4.3% compared to the same quarter last year. As a group, equities research analysts predict that PubMatic, Inc. will post 0.22 earnings per share for the current fiscal year.

Insider Activity

In related news, Chairman Amar K. Goel sold 4,446 shares of the company's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $9.31, for a total transaction of $41,392.26. Following the transaction, the chairman now directly owns 18,401 shares in the company, valued at approximately $171,313.31. This represents a 19.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Rajeev K. Goel sold 25,000 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer now directly owns 32,304 shares of the company's stock, valued at approximately $295,258.56. The trade was a 43.63% decrease in their position. The disclosure for this sale can be found here. Insiders sold 106,089 shares of company stock valued at $1,063,362 in the last ninety days. Insiders own 26.42% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on PUBM shares. Scotiabank decreased their price objective 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. Royal Bank of Canada decreased their price target on PubMatic from $17.00 to $14.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Finally, Lake Street Capital dropped 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 issued a buy rating to the company's stock. According to data from MarketBeat, PubMatic has a consensus rating of "Moderate Buy" and a consensus target price of $19.11.

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.