Graham Capital Management L.P. Buys New Stake in PubMatic, Inc. (NASDAQ:PUBM)

Graham Capital Management L.P. bought a new stake in PubMatic, Inc. (NASDAQ:PUBM - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund bought 46,295 shares of the company's stock, valued at approximately $680,000. Graham Capital Management L.P. owned 0.10% of PubMatic at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new position in shares of PubMatic in the 4th quarter valued at $27,000. JPMorgan Chase & Co. lifted its stake in shares of PubMatic by 263.0% in the 4th 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. Principal Financial Group Inc. lifted its stake in shares of PubMatic by 9.7% in the 4th 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. Tower Research Capital LLC TRC lifted its stake in shares of PubMatic by 75.2% in the 4th 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. Finally, Dimensional Fund Advisors LP lifted its stake in shares of PubMatic by 5.8% in the 4th 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 currently owned by institutional investors and hedge funds.

PubMatic Stock Up 1.1%

Shares of NASDAQ PUBM opened at $11.71 on Thursday. The firm has a 50-day simple moving average of $9.51 and a 200-day simple moving average of $13.18. The stock 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 52 week low of $7.46 and a 52 week high of $24.50.

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

Insider Activity

In other news, CEO Rajeev K. Goel sold 25,000 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $9.14, for a total value of $228,500.00. Following the completion of the sale, the chief executive officer now directly owns 32,304 shares in the company, valued at $295,258.56. This represents a 43.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Steven Pantelick sold 4,000 shares of the company's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $9.83, for a total transaction of $39,320.00. Following the completion of the sale, the chief financial officer now directly owns 27,026 shares of the company's stock, valued at $265,665.58. This represents a 12.89% decrease in their position. The disclosure for this sale can be found here. Insiders sold 80,019 shares of company stock worth $756,057 over the last three months. Insiders own 2.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PUBM. Scotiabank decreased their target price on shares of PubMatic from $17.00 to $15.00 and set a "sector perform" rating for the company in a research note on Friday, February 28th. Lake Street Capital reduced their price objective on shares of PubMatic from $21.00 to $19.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Royal Bank of Canada reduced their price objective on shares of PubMatic from $17.00 to $14.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Finally, JMP Securities restated a "market outperform" rating and set a $20.00 price objective on shares of PubMatic in a research report on Monday, January 27th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target 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.

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