Envestnet Asset Management Inc. Has $748,000 Stake in PubMatic, Inc. (NASDAQ:PUBM)

Envestnet Asset Management Inc. grew its holdings in PubMatic, Inc. (NASDAQ:PUBM) by 12.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 50,903 shares of the company’s stock after acquiring an additional 5,835 shares during the quarter. Envestnet Asset Management Inc. owned 0.11% of PubMatic worth $748,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP grew its position 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 purchasing an additional 145,641 shares in the last quarter. Nordea Investment Management AB lifted its stake in PubMatic by 377.4% in 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 during the last quarter. Avestar Capital LLC bought a new position in shares of PubMatic in the 4th quarter valued at about $4,701,000. American Century Companies Inc. increased its stake in shares of PubMatic by 0.9% during 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 last quarter. Finally, JPMorgan Chase & Co. increased its position in PubMatic by 263.0% during the fourth quarter. JPMorgan Chase & Co. now owns 226,328 shares of the company’s stock worth $3,325,000 after buying an additional 163,979 shares during the last quarter. Institutional investors own 64.26% of the company’s stock.

PubMatic Stock Performance

Shares of PUBM opened at $9.80 on Friday. PubMatic, Inc. has a 52 week low of $7.46 and a 52 week high of $25.36. The stock has a market capitalization of $475.56 million, a price-to-earnings ratio of 31.61 and a beta of 1.50. The stock has a fifty day moving average of $9.59 and a 200-day moving average of $13.42.

PubMatic (NASDAQ:PUBM) last released its quarterly earnings data on Thursday, February 27th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.11). The firm had revenue of $85.50 million during the quarter, compared to analyst estimates of $88.24 million. PubMatic had a net margin of 5.96% and a return on equity of 6.12%. As a group, equities analysts forecast that PubMatic, Inc. will post 0.22 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on PUBM shares. Royal Bank of Canada dropped their price objective on shares of PubMatic from $17.00 to $14.00 and set an “outperform” rating on the stock in a research report on Friday. Lake Street Capital reduced their price objective 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. JMP Securities reissued a “market outperform” rating and issued a $20.00 price objective on shares of PubMatic in a research note on Monday, January 27th. Finally, Scotiabank cut their target price 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 issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $19.33.

Insider Buying and Selling

In related news, 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 value of $60,560.00. Following the transaction, the chief financial officer now directly owns 22,506 shares of the company’s stock, valued at $340,740.84. The trade was a 15.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Andrew Woods sold 4,111 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $9.31, for a total transaction of $38,273.41. Following the sale, the general counsel now directly owns 39,509 shares of the company’s stock, valued at $367,828.79. This represents a 9.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 87,210 shares of company stock valued at $1,028,124 over the last 90 days. 2.90% of the stock is owned by insiders.

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.