PubMatic, Inc. (NASDAQ:PUBM) Stake Lowered by Invesco Ltd.

Invesco Ltd. decreased its position in PubMatic, Inc. (NASDAQ:PUBM) by 4.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 50,624 shares of the company’s stock after selling 2,417 shares during the period. Invesco Ltd. owned approximately 0.11% of PubMatic worth $744,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP boosted its position in shares of PubMatic by 19.4% during the fourth quarter. Wellington Management Group LLP now owns 897,970 shares of the company’s stock worth $13,191,000 after buying an additional 145,641 shares during the period. Nordea Investment Management AB lifted its holdings in shares of 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 buying an additional 269,217 shares during the period. Avestar Capital LLC bought a new position in PubMatic during the fourth quarter valued at about $4,701,000. American Century Companies Inc. grew its holdings in 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 acquiring an additional 2,461 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in PubMatic by 263.0% during the fourth quarter. JPMorgan Chase & Co. now owns 226,328 shares of the company’s stock valued at $3,325,000 after purchasing an additional 163,979 shares during the last quarter. Institutional investors own 64.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on PUBM shares. Lake Street Capital reduced their target price on PubMatic from $24.00 to $21.00 and set a “buy” rating for the company in a report on Friday, February 28th. Scotiabank lowered their price target on 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 reduced their price objective on PubMatic from $17.00 to $14.00 and set an “outperform” rating for the company in a research note on Friday. Finally, JMP Securities reiterated a “market outperform” rating and issued a $20.00 target price on shares of PubMatic in a research report on Monday, January 27th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $19.33.

PubMatic Trading Down 0.8 %

PubMatic stock opened at $9.80 on Friday. The company has a market capitalization of $475.56 million, a P/E ratio of 31.61 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 firm’s fifty day simple moving average is $9.59 and its 200-day simple moving average is $13.42.

PubMatic (NASDAQ:PUBM) last released its quarterly earnings results 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). PubMatic had a return on equity of 6.12% and a net margin of 5.96%. The company had revenue of $85.50 million for the quarter, compared to the consensus estimate of $88.24 million. On average, equities research analysts predict that PubMatic, Inc. will post 0.22 earnings per share for the current year.

Insider Buying and Selling at PubMatic

In related news, CEO Rajeev K. Goel sold 24,891 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $15.14, for a total value of $376,849.74. Following the transaction, the chief executive officer now directly owns 5,896 shares in the company, valued at approximately $89,265.44. This trade represents a 80.85 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Rajeev K. Goel sold 25,000 shares of PubMatic stock in a transaction on 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 in the company, valued at $295,258.56. This trade represents a 43.63 % 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 worth $1,028,124 over the last 90 days. Insiders own 2.90% of the company’s stock.

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.