Wellington Management Group LLP Raises Stake in PubMatic, Inc. (NASDAQ:PUBM)

Wellington Management Group LLP lifted its holdings in PubMatic, Inc. (NASDAQ:PUBM - Free Report) by 19.4% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 897,970 shares of the company's stock after buying an additional 145,641 shares during the period. Wellington Management Group LLP owned approximately 1.85% of PubMatic worth $13,191,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PUBM. SBI Securities Co. Ltd. purchased a new stake in PubMatic during the fourth quarter worth about $27,000. Cubist Systematic Strategies LLC bought a new position in shares of PubMatic during the 4th quarter valued at approximately $29,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of PubMatic during the 4th quarter valued at approximately $57,000. Tower Research Capital LLC TRC increased its stake in shares of PubMatic by 75.2% during the 4th 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 during the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of PubMatic during the 4th quarter worth approximately $106,000. Hedge funds and other institutional investors own 64.26% of the company's stock.

Analysts Set New Price Targets

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

PubMatic Stock Up 0.7%

PUBM traded up $0.09 during trading on Wednesday, reaching $12.16. 570,645 shares of the company were exchanged, compared to its average volume of 485,979. PubMatic, Inc. has a 12-month low of $7.46 and a 12-month high of $22.99. The company's 50-day moving average is $10.04 and its two-hundred day moving average is $12.80. The company has a market cap of $590.09 million, a price-to-earnings ratio of 39.23 and a beta of 1.49.

PubMatic (NASDAQ:PUBM - Get Free Report) last announced 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). PubMatic had a return on equity of 6.12% and a net margin of 5.96%. The firm had revenue of $63.83 million during the quarter, compared to analysts' expectations of $62.07 million. During the same period in the previous year, the company posted ($0.05) earnings per share. The company's quarterly revenue was down 4.3% compared to the same quarter last year. Equities analysts forecast that PubMatic, Inc. will post 0.22 earnings per share for the current year.

Insiders Place Their Bets

In other PubMatic news, General Counsel Andrew Woods sold 4,111 shares of the company's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $9.31, for a total value of $38,273.41. Following the transaction, the general counsel now directly owns 39,509 shares in the company, valued at $367,828.79. This represents a 9.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Rajeev K. Goel sold 25,000 shares of the firm's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $11.80, for a total value of $295,000.00. Following the completion of the sale, the chief executive officer now directly owns 8,297 shares in the company, valued at approximately $97,904.60. The trade was a 75.08% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 106,089 shares of company stock worth $1,063,362 in the last three months. 26.42% of the stock is currently owned by corporate insiders.

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.