Mirae Asset Global Investments Co. Ltd. Purchases 35,286 Shares of PubMatic, Inc. (NASDAQ:PUBM)

Mirae Asset Global Investments Co. Ltd. increased its position in PubMatic, Inc. (NASDAQ:PUBM) by 8.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 436,130 shares of the company’s stock after purchasing an additional 35,286 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 0.86% of PubMatic worth $7,113,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Ancora Advisors LLC bought a new position in PubMatic in the 4th quarter worth about $26,000. Guinness Atkinson Asset Management Inc lifted its stake in PubMatic by 48.6% during the 3rd quarter. Guinness Atkinson Asset Management Inc now owns 3,032 shares of the company’s stock valued at $37,000 after acquiring an additional 992 shares during the period. Tower Research Capital LLC TRC lifted its stake in PubMatic by 225.7% during the 3rd quarter. Tower Research Capital LLC TRC now owns 3,674 shares of the company’s stock valued at $44,000 after acquiring an additional 2,546 shares during the period. Lazard Asset Management LLC bought a new position in PubMatic during the 2nd quarter valued at about $46,000. Finally, DekaBank Deutsche Girozentrale bought a new position in PubMatic during the 3rd quarter valued at about $68,000. Institutional investors own 64.26% of the company’s stock.

PubMatic Trading Down 1.8 %

PubMatic stock opened at $22.86 on Friday. The firm has a 50 day moving average of $20.42 and a 200 day moving average of $16.66. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of 152.41 and a beta of 1.52. PubMatic, Inc. has a 12-month low of $10.92 and a 12-month high of $24.18.

PubMatic (NASDAQ:PUBM) last released its earnings results on Monday, February 26th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.15. The company had revenue of $84.60 million during the quarter, compared to analyst estimates of $78.19 million. PubMatic had a net margin of 3.33% and a return on equity of 3.29%. The firm’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.24 EPS. On average, analysts predict that PubMatic, Inc. will post 0.17 EPS for the current year.

Analyst Ratings Changes

Several research firms have issued reports on PUBM. B. Riley upped their target price on shares of PubMatic from $21.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $26.00 price target on shares of PubMatic in a research report on Monday, March 25th. Finally, JMP Securities upped their price target on shares of PubMatic from $18.00 to $25.00 and gave the company a “market outperform” rating in a research report on Tuesday, February 27th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, PubMatic has an average rating of “Moderate Buy” and an average target price of $22.20.

Insider Buying and Selling

In other PubMatic news, Chairman Amar K. Goel sold 3,770 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $23.71, for a total value of $89,386.70. Following the completion of the transaction, the chairman now directly owns 2,640 shares in the company, valued at approximately $62,594.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other PubMatic news, Chairman Amar K. Goel sold 3,770 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $23.71, for a total value of $89,386.70. Following the completion of the transaction, the chairman now directly owns 2,640 shares in the company, valued at approximately $62,594.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paulina Klimenko sold 2,083 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $17.00, for a total value of $35,411.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 177,563 shares of company stock valued at $3,789,088. 2.00% of the stock is owned by corporate insiders.

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.