Cubist Systematic Strategies LLC Acquires New Holdings in PubMatic, Inc. (NASDAQ:PUBM)

Cubist Systematic Strategies LLC acquired a new stake in shares of PubMatic, Inc. (NASDAQ:PUBM) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,971 shares of the company’s stock, valued at approximately $29,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PUBM. SBI Securities Co. Ltd. acquired a new stake in PubMatic during the 4th quarter worth about $27,000. JPMorgan Chase & Co. increased its holdings in PubMatic by 263.0% in 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. Tower Research Capital LLC TRC increased its holdings in PubMatic by 75.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,220 shares of the company’s stock worth $77,000 after buying an additional 2,240 shares during the last quarter. Principal Financial Group Inc. grew its holdings in 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 purchasing an additional 2,234 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in PubMatic by 5.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,533,718 shares of the company’s stock valued at $22,531,000 after purchasing an additional 84,317 shares during the last quarter. 64.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on PUBM. Royal Bank of Canada reduced their target price on PubMatic from $17.00 to $14.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. Scotiabank lowered their price objective on PubMatic from $17.00 to $15.00 and set a “sector perform” rating for the company in a research report on Friday, February 28th. JMP Securities restated a “market outperform” rating and set a $20.00 target price on shares of PubMatic in a report on Monday, January 27th. Finally, Lake Street Capital cut their price objective on PubMatic from $21.00 to $19.00 and set a “buy” rating on the stock in a report on Friday, May 9th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, PubMatic currently has an average rating of “Moderate Buy” and a consensus price target of $19.11.

Insider Activity

In other PubMatic news, CEO Rajeev K. Goel sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $9.84, for a total transaction of $246,000.00. Following the sale, the chief executive officer now directly owns 8,297 shares of the company’s stock, valued at $81,642.48. The trade was a 75.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Steven Pantelick sold 12,061 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $9.31, for a total value of $112,287.91. Following the completion of the sale, the chief financial officer now directly owns 41,410 shares of the company’s stock, valued at approximately $385,527.10. The trade was a 22.56% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 80,019 shares of company stock worth $756,057. 2.90% of the stock is currently owned by company insiders.

PubMatic Price Performance

Shares of NASDAQ PUBM opened at $11.40 on Tuesday. The stock’s fifty day moving average price is $9.62 and its two-hundred day moving average price is $13.08. PubMatic, Inc. has a one year low of $7.46 and a one year high of $24.50. The firm has a market cap of $553.21 million, a price-to-earnings ratio of 36.77 and a beta of 1.49.

PubMatic (NASDAQ:PUBM) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.18). The firm had revenue of $63.83 million during the quarter, compared to analyst estimates of $62.07 million. PubMatic had a net margin of 5.96% and a return on equity of 6.12%. The business’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.05) earnings per share. On average, equities analysts anticipate that PubMatic, Inc. will post 0.22 earnings per share for the current fiscal year.

PubMatic Company 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.