Mirae Asset Global Investments Co. Ltd. Sells 1,405 Shares of PubMatic, Inc. (NASDAQ:PUBM)

Mirae Asset Global Investments Co. Ltd. cut its holdings in shares of PubMatic, Inc. (NASDAQ:PUBM) by 12.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,216 shares of the company’s stock after selling 1,405 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in PubMatic were worth $152,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. BayBridge Capital Group LLC bought a new stake in PubMatic during the third quarter worth about $387,000. International Assets Investment Management LLC grew its stake in PubMatic by 1,387.1% in the third quarter. International Assets Investment Management LLC now owns 5,205 shares of the company’s stock valued at $77,000 after purchasing an additional 4,855 shares in the last quarter. Inspire Investing LLC increased its position in shares of PubMatic by 57.6% during the 3rd quarter. Inspire Investing LLC now owns 27,659 shares of the company’s stock worth $411,000 after purchasing an additional 10,109 shares during the last quarter. Leibman Financial Services Inc. raised its stake in shares of PubMatic by 19.4% during the 3rd quarter. Leibman Financial Services Inc. now owns 48,459 shares of the company’s stock worth $721,000 after purchasing an additional 7,880 shares in the last quarter. Finally, Founders Capital Management boosted its holdings in shares of PubMatic by 100.0% in the 3rd quarter. Founders Capital Management now owns 2,000 shares of the company’s stock valued at $30,000 after buying an additional 1,000 shares during the last quarter. 64.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on PUBM shares. B. Riley reduced their price target on PubMatic from $31.00 to $22.00 and set a “buy” rating for the company in a report on Friday, August 9th. Wolfe Research initiated coverage on PubMatic in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $25.00 price target on the stock. Jefferies Financial Group reduced their price objective on shares of PubMatic from $26.00 to $16.00 and set a “hold” rating for the company in a research report on Friday, August 9th. Royal Bank of Canada dropped their price objective on shares of PubMatic from $26.00 to $23.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 20th. Finally, Raymond James downgraded shares of PubMatic from an “outperform” rating to a “market perform” rating in a report on Friday, August 9th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $21.00.

Insider Activity

In related news, CFO Steven Pantelick sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $14.03, for a total transaction of $56,120.00. Following the completion of the transaction, the chief financial officer now directly owns 22,506 shares in the company, valued at $315,759.18. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other PubMatic news, CEO Rajeev K. Goel sold 25,000 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $15.25, for a total value of $381,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Steven Pantelick sold 4,000 shares of PubMatic stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $14.03, for a total transaction of $56,120.00. Following the sale, the chief financial officer now owns 22,506 shares in the company, valued at approximately $315,759.18. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 85,896 shares of company stock worth $1,263,213. Corporate insiders own 2.90% of the company’s stock.

PubMatic Trading Down 1.8 %

Shares of PubMatic stock opened at $14.35 on Tuesday. The company has a market cap of $711.53 million, a PE ratio of 39.86 and a beta of 1.39. The company has a 50 day moving average of $14.82 and a 200-day moving average of $18.64. PubMatic, Inc. has a 1-year low of $11.79 and a 1-year high of $25.36.

PubMatic (NASDAQ:PUBM) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.06. PubMatic had a return on equity of 6.92% and a net margin of 7.08%. The company had revenue of $67.27 million for the quarter, compared to analyst estimates of $70.07 million. During the same quarter last year, the company posted ($0.11) EPS. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. Research analysts forecast that PubMatic, Inc. will post 0.2 earnings per share for the current year.

PubMatic 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.