Barclays PLC Sells 30,461 Shares of PubMatic, Inc. (NASDAQ:PUBM)

Barclays PLC decreased its position in PubMatic, Inc. (NASDAQ:PUBM) by 23.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 98,735 shares of the company’s stock after selling 30,461 shares during the quarter. Barclays PLC owned approximately 0.21% of PubMatic worth $1,450,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. SBI Securities Co. Ltd. purchased a new stake in PubMatic in the fourth quarter worth about $27,000. KLP Kapitalforvaltning AS bought a new stake in PubMatic during the fourth quarter worth about $106,000. Virtu Financial LLC purchased a new stake in PubMatic in the third quarter worth about $240,000. Pitcairn Co. grew its stake in shares of PubMatic by 7.3% in the fourth quarter. Pitcairn Co. now owns 21,654 shares of the company’s stock worth $318,000 after acquiring an additional 1,477 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of PubMatic by 9.7% during the fourth quarter. Principal Financial Group Inc. now owns 25,178 shares of the company’s stock valued at $370,000 after acquiring an additional 2,234 shares in the last quarter. 64.26% of the stock is owned by institutional investors.

Insider Transactions at PubMatic

In related news, insider Mukul Kumar sold 7,000 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was 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 directly owns 52,005 shares of the company’s stock, valued at approximately $858,602.55. This represents a 11.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Rajeev K. Goel sold 24,891 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 $376,849.74. Following the completion of the sale, the chief executive officer now directly owns 5,896 shares in the company, valued at approximately $89,265.44. The trade was a 80.85 % 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 valued at $1,028,124. 2.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PUBM. Scotiabank dropped their price target on shares of PubMatic from $17.00 to $15.00 and set a “sector perform” rating on the stock in a research note on Friday, February 28th. Royal Bank of Canada decreased their price target on PubMatic from $17.00 to $14.00 and set an “outperform” rating for the company in a research note on Friday. Lake Street Capital dropped 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. Finally, JMP Securities reiterated a “market outperform” rating and set a $20.00 target price on shares of PubMatic in a research note on Monday, January 27th. 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 has a consensus rating of “Moderate Buy” and an average target price of $19.33.

PubMatic Stock Performance

Shares of PUBM stock opened at $9.80 on Friday. The stock has a fifty day simple moving average of $9.59 and a two-hundred day simple moving average of $13.41. PubMatic, Inc. has a 52-week low of $7.46 and a 52-week high of $25.36. The firm has a market capitalization of $475.56 million, a PE ratio of 31.61 and a beta of 1.50.

PubMatic (NASDAQ:PUBM) last issued its 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 net margin of 5.96% and a return on equity of 6.12%. The business had revenue of $85.50 million for the quarter, compared to the consensus estimate of $88.24 million. On average, sell-side analysts forecast that PubMatic, Inc. will post 0.22 EPS for the current fiscal year.

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.