Russell Investments Group Ltd. Has $691,000 Stock Position in PubMatic, Inc. (NASDAQ:PUBM)

Russell Investments Group Ltd. raised its holdings in PubMatic, Inc. (NASDAQ:PUBM) by 5.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 47,062 shares of the company’s stock after buying an additional 2,528 shares during the quarter. Russell Investments Group Ltd. owned 0.10% of PubMatic worth $691,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in PUBM. Geode Capital Management LLC boosted its position 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 worth $14,295,000 after purchasing an additional 7,225 shares in the last quarter. Wellington Management Group LLP grew its stake in PubMatic by 19.4% in the fourth quarter. Wellington Management Group LLP now owns 897,970 shares of the company’s stock valued at $13,191,000 after acquiring an additional 145,641 shares during the period. Nordea Investment Management AB increased its holdings in shares of PubMatic by 377.4% during the fourth quarter. Nordea Investment Management AB now owns 340,544 shares of the company’s stock valued at $5,101,000 after acquiring an additional 269,217 shares in the last quarter. Avestar Capital LLC bought a new stake in shares of PubMatic during the fourth quarter valued at approximately $4,701,000. Finally, American Century Companies Inc. raised its position 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. 64.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on PUBM shares. JMP Securities reissued a “market outperform” rating and issued a $20.00 price target on shares of PubMatic in a research report on Monday, January 27th. Lake Street Capital decreased their target price on shares of PubMatic from $24.00 to $21.00 and set a “buy” rating for the company in a research report on Friday, February 28th. Royal Bank of Canada lowered their target price on shares of PubMatic from $21.00 to $19.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Finally, Scotiabank cut their price target on PubMatic from $17.00 to $15.00 and set a “sector perform” rating for the company in a research note on Friday, February 28th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, PubMatic has a consensus rating of “Moderate Buy” and a consensus target price of $19.89.

Insider Activity at PubMatic

In other PubMatic news, insider Mukul Kumar sold 7,000 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $16.51, for a total transaction of $115,570.00. Following the completion of the transaction, the insider now owns 52,005 shares in the company, valued at $858,602.55. This trade represents a 11.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Rajeev K. Goel sold 25,000 shares of PubMatic stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $9.14, for a total transaction of $228,500.00. Following the completion of the transaction, the chief executive officer now owns 32,304 shares of the company’s stock, valued at $295,258.56. The trade was a 43.63 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 87,210 shares of company stock worth $1,028,124. Insiders own 2.90% of the company’s stock.

PubMatic Price Performance

Shares of NASDAQ:PUBM opened at $9.56 on Wednesday. The company has a market capitalization of $463.92 million, a PE ratio of 30.84 and a beta of 1.50. PubMatic, Inc. has a 1 year low of $7.46 and a 1 year high of $25.36. The business has a fifty day moving average price of $10.42 and a two-hundred day moving average price of $13.69.

PubMatic (NASDAQ:PUBM) last posted its quarterly earnings data on Thursday, February 27th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.11). The company had revenue of $85.50 million for the quarter, compared to analysts’ expectations of $88.24 million. PubMatic had a return on equity of 6.12% and a net margin of 5.96%. Sell-side analysts anticipate 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.