PubMatic, Inc. (NASDAQ:PUBM) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC decreased its holdings in shares of PubMatic, Inc. (NASDAQ:PUBM) by 1.3% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 948,955 shares of the company’s stock after selling 12,200 shares during the period. Geode Capital Management LLC owned approximately 1.99% of PubMatic worth $13,944,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC boosted its position in PubMatic by 201.6% in the third quarter. FMR LLC now owns 4,053 shares of the company’s stock valued at $60,000 after buying an additional 2,709 shares during the last quarter. Barclays PLC lifted its stake in PubMatic by 93.1% during the 3rd quarter. Barclays PLC now owns 129,196 shares of the company’s stock valued at $1,921,000 after acquiring an additional 62,284 shares during the period. Virtu Financial LLC purchased a new stake in shares of PubMatic in the 3rd quarter valued at $240,000. Franklin Resources Inc. acquired a new stake in shares of PubMatic in the third quarter worth $941,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of PubMatic by 239.3% during the third quarter. JPMorgan Chase & Co. now owns 62,349 shares of the company’s stock worth $927,000 after purchasing an additional 43,971 shares during the last quarter. Hedge funds and other institutional investors own 64.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on PUBM. Scotiabank lowered their price target on shares of 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 dropped their target price on PubMatic from $21.00 to $19.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. JMP Securities reissued a “market outperform” rating and issued a $20.00 price target on shares of PubMatic in a report on Monday, January 27th. Finally, Lake Street Capital lowered their price objective on PubMatic from $24.00 to $21.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, PubMatic presently has a consensus rating of “Moderate Buy” and an average price target of $19.89.

PubMatic Price Performance

PubMatic stock opened at $9.13 on Monday. The stock has a market capitalization of $443.05 million, a PE ratio of 29.45 and a beta of 1.50. The business has a 50 day simple moving average of $10.70 and a 200-day simple moving average of $13.76. PubMatic, Inc. has a 12 month low of $7.46 and a 12 month high of $25.36.

PubMatic (NASDAQ:PUBM) last released its 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). PubMatic had a net margin of 5.96% and a return on equity of 6.12%. The firm had revenue of $85.50 million during the quarter, compared to analysts’ expectations of $88.24 million. On average, equities research analysts anticipate that PubMatic, Inc. will post 0.22 EPS for the current fiscal year.

Insider Activity

In other news, CEO Rajeev K. Goel sold 25,000 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $9.14, for a total value of $228,500.00. Following the sale, the chief executive officer now directly owns 32,304 shares in the company, valued at approximately $295,258.56. This trade represents a 43.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Steven Pantelick sold 4,000 shares of PubMatic stock in a transaction that occurred on Monday, February 3rd. The stock was 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 owns 22,506 shares of the company’s stock, valued at $340,740.84. This represents a 15.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 87,210 shares of company stock worth $1,028,124 over the last ninety days. Corporate insiders own 2.90% of the company’s stock.

PubMatic Company 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.