Vanguard Group Inc. Sells 110,613 Shares of PubMatic, Inc. (NASDAQ:PUBM)

Vanguard Group Inc. trimmed its position in PubMatic, Inc. (NASDAQ:PUBM - Free Report) by 2.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 4,240,289 shares of the company's stock after selling 110,613 shares during the period. Vanguard Group Inc. owned 8.88% of PubMatic worth $62,290,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. LPL Financial LLC grew its holdings in shares of PubMatic by 5.1% during the fourth quarter. LPL Financial LLC now owns 112,250 shares of the company's stock worth $1,634,000 after purchasing an additional 5,432 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in PubMatic in the 4th quarter valued at approximately $401,000. KLP Kapitalforvaltning AS bought a new position in shares of PubMatic during the fourth quarter valued at $106,000. American Century Companies Inc. lifted its holdings in shares of PubMatic by 0.9% during the fourth quarter. American Century Companies Inc. now owns 271,864 shares of the company's stock worth $3,994,000 after purchasing an additional 2,461 shares during the period. Finally, Magnetar Financial LLC bought a new stake in shares of PubMatic in the fourth quarter worth $422,000. Institutional investors own 64.26% of the company's stock.

PubMatic Stock Up 4.0 %

PUBM traded up $0.33 during midday trading on Thursday, hitting $8.47. The company had a trading volume of 197,032 shares, compared to its average volume of 497,515. The company has a market capitalization of $410.78 million, a price-to-earnings ratio of 27.27 and a beta of 1.50. The stock's 50 day moving average price is $11.00 and its 200 day moving average price is $13.84. PubMatic, Inc. has a 52 week low of $7.46 and a 52 week 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 analysts' consensus estimates of $0.37 by ($0.11). PubMatic had a return on equity of 6.12% and a net margin of 5.96%. The firm had revenue of $85.50 million for the quarter, compared to analyst estimates of $88.24 million. Research analysts predict that PubMatic, Inc. will post 0.22 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on PUBM shares. Lake Street Capital cut their target price on PubMatic from $24.00 to $21.00 and set a "buy" rating on the stock in a report on Friday, February 28th. Scotiabank reduced their target price on PubMatic from $17.00 to $15.00 and set a "sector perform" rating on the stock in a report on Friday, February 28th. Royal Bank of Canada lowered their price target on shares of PubMatic from $21.00 to $19.00 and set an "outperform" rating for the company in a report on Friday, January 3rd. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $20.00 price objective on shares of PubMatic in a research note 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 company. According to data from MarketBeat.com, PubMatic currently has a consensus rating of "Moderate Buy" and a consensus target price of $19.89.

Insider Buying and Selling

In other news, CEO Rajeev K. Goel sold 25,000 shares of the business's stock in a transaction dated Tuesday, April 1st. The shares were 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 $295,258.56. The trade was a 43.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Steven Pantelick sold 4,000 shares of the firm's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $15.14, for a total transaction of $60,560.00. Following the completion of the transaction, the chief financial officer now directly owns 22,506 shares in the company, valued at approximately $340,740.84. The trade was a 15.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 87,210 shares of company stock worth $1,028,124 in the last ninety days. Corporate insiders own 2.90% of the company's stock.

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.