JPMorgan Chase & Co. Increases Stock Position in PubMatic, Inc. (NASDAQ:PUBM)

JPMorgan Chase & Co. lifted its stake in shares of PubMatic, Inc. (NASDAQ:PUBM - Free Report) by 263.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 226,328 shares of the company's stock after acquiring an additional 163,979 shares during the quarter. JPMorgan Chase & Co. owned about 0.47% of PubMatic worth $3,325,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. SBI Securities Co. Ltd. acquired a new position in shares of PubMatic during the 4th quarter worth about $27,000. Principal Financial Group Inc. lifted its holdings in shares of 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 buying an additional 2,234 shares during the last quarter. American Century Companies Inc. boosted its position in shares of PubMatic by 0.9% in the fourth quarter. American Century Companies Inc. now owns 271,864 shares of the company's stock valued at $3,994,000 after acquiring an additional 2,461 shares during the period. FMR LLC increased its position in PubMatic by 201.6% during the third quarter. FMR LLC now owns 4,053 shares of the company's stock worth $60,000 after acquiring an additional 2,709 shares during the period. Finally, LPL Financial LLC raised its stake in PubMatic by 5.1% during the 4th quarter. LPL Financial LLC now owns 112,250 shares of the company's stock valued at $1,634,000 after purchasing an additional 5,432 shares during the last quarter. Institutional investors and hedge funds own 64.26% of the company's stock.

Insiders Place Their Bets

In other news, CEO Rajeev K. Goel sold 25,000 shares of the company's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $9.14, for a total value of $228,500.00. Following the transaction, the chief executive officer now owns 32,304 shares of the company's stock, valued at approximately $295,258.56. This represents a 43.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Steven Pantelick sold 4,000 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $15.14, for a total value of $60,560.00. Following the completion of the sale, the chief financial officer now owns 22,506 shares in the company, valued at $340,740.84. This trade represents a 15.09 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 87,210 shares of company stock valued at $1,028,124. Company insiders own 2.90% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on PUBM shares. JMP Securities reissued a "market outperform" rating and set a $20.00 price objective on shares of PubMatic in a report on Monday, January 27th. Lake Street Capital dropped their price target on shares of PubMatic from $24.00 to $21.00 and set a "buy" rating for the company in a research report on Friday, February 28th. Royal Bank of Canada decreased their price objective on PubMatic from $21.00 to $19.00 and set an "outperform" rating on the stock in a report on Friday, January 3rd. Finally, Scotiabank cut their target price on PubMatic from $17.00 to $15.00 and set a "sector perform" rating for the company in a research report on Friday, February 28th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $19.89.

PubMatic Price Performance

Shares of PubMatic stock traded up $0.11 on Friday, hitting $9.96. 502,354 shares of the company's stock traded hands, compared to its average volume of 464,330. The company has a market capitalization of $483.33 million, a price-to-earnings ratio of 32.13 and a beta of 1.50. The company has a fifty day moving average of $10.07 and a two-hundred day moving average of $13.60. PubMatic, Inc. has a one year low of $7.46 and a one year high of $25.36.

PubMatic (NASDAQ:PUBM - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.11). The company had revenue of $85.50 million during the quarter, compared to the consensus estimate of $88.24 million. PubMatic had a net margin of 5.96% and a return on equity of 6.12%. Equities research analysts anticipate that PubMatic, Inc. will post 0.22 earnings per share 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.