JPMorgan Chase & Co. Buys 163,979 Shares of PubMatic, Inc. (NASDAQ:PUBM)

JPMorgan Chase & Co. lifted its stake in PubMatic, Inc. (NASDAQ:PUBM) by 263.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 226,328 shares of the company’s stock after acquiring an additional 163,979 shares during the quarter. JPMorgan Chase & Co. owned 0.47% of PubMatic worth $3,325,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Geode Capital Management LLC lifted its holdings in shares of PubMatic by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 961,155 shares of the company’s stock valued at $14,295,000 after buying an additional 7,225 shares during the period. Nordea Investment Management AB grew its stake in shares of PubMatic by 377.4% during the 4th quarter. Nordea Investment Management AB now owns 340,544 shares of the company’s stock valued at $5,101,000 after purchasing an additional 269,217 shares during the period. Avestar Capital LLC purchased a new stake in shares of PubMatic during the 4th quarter valued at about $4,701,000. American Century Companies Inc. lifted its stake in shares of PubMatic by 0.9% in the 4th 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, EFG Asset Management North America Corp. boosted its holdings in shares of PubMatic by 58.1% in the fourth quarter. EFG Asset Management North America Corp. now owns 133,756 shares of the company’s stock worth $1,964,000 after buying an additional 49,133 shares during the last quarter. 64.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Rajeev K. Goel sold 24,891 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $15.14, for a total value of $376,849.74. Following the completion of the sale, the chief executive officer now directly owns 5,896 shares of the company’s stock, valued at $89,265.44. This trade represents a 80.85 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Amar K. Goel sold 4,446 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $9.31, for a total value of $41,392.26. Following the transaction, the chairman now directly owns 18,401 shares in the company, valued at approximately $171,313.31. This represents a 19.46 % 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 worth $1,028,124. Insiders own 2.90% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on PUBM shares. Lake Street Capital dropped their price target on shares of PubMatic from $24.00 to $21.00 and set a “buy” rating on the stock in a research note 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 research note on Friday, January 3rd. JMP Securities reissued a “market outperform” rating and issued a $20.00 target price on shares of PubMatic in a report on Monday, January 27th. Finally, 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. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.89.

PubMatic Stock Performance

PUBM opened at $9.37 on Tuesday. The stock has a market capitalization of $454.70 million, a price-to-earnings ratio of 30.23 and a beta of 1.50. PubMatic, Inc. has a fifty-two week low of $7.46 and a fifty-two week high of $25.36. The company has a fifty day moving average of $10.55 and a 200 day moving average of $13.72.

PubMatic (NASDAQ:PUBM) last announced its quarterly earnings results on Thursday, February 27th. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $88.24 million. On average, equities research analysts forecast 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.