PubMatic, Inc. (NASDAQ:PUBM) Shares Acquired by Northern Trust Corp

Northern Trust Corp increased its holdings in PubMatic, Inc. (NASDAQ:PUBM) by 2.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 383,246 shares of the company’s stock after acquiring an additional 10,749 shares during the quarter. Northern Trust Corp owned approximately 0.80% of PubMatic worth $5,630,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of PUBM. SBI Securities Co. Ltd. acquired a new position in shares of PubMatic in the fourth quarter worth about $27,000. Tower Research Capital LLC TRC lifted its stake in shares of 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 acquiring an additional 2,240 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of PubMatic in the fourth quarter worth about $106,000. XTX Topco Ltd acquired a new position in shares of PubMatic in the fourth quarter worth about $228,000. Finally, Pitcairn Co. lifted 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 in the last quarter. Institutional investors and hedge funds own 64.26% of the company’s stock.

Insider Transactions at PubMatic

In related news, Chairman Amar K. Goel sold 4,446 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $9.31, for a total value of $41,392.26. Following the completion of the transaction, the chairman now directly owns 18,401 shares of the company’s stock, valued at $171,313.31. This represents a 19.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Rajeev K. Goel sold 25,000 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $9.14, for a total value of $228,500.00. Following the completion of the transaction, the chief executive officer now directly owns 32,304 shares of the company’s stock, valued at $295,258.56. This trade represents a 43.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 81,089 shares of company stock worth $768,362. 2.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Royal Bank of Canada cut their price objective on PubMatic from $17.00 to $14.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. JMP Securities restated a “market outperform” rating and set a $20.00 price objective on shares of PubMatic in a research note on Monday, January 27th. 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 research note on Friday, May 9th. Finally, Scotiabank cut their price objective on PubMatic from $17.00 to $15.00 and set a “sector perform” rating on the stock in a research note on Friday, February 28th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $19.11.

PubMatic Trading Up 1.1%

Shares of PubMatic stock opened at $11.52 on Wednesday. The business’s 50 day simple moving average is $9.66 and its 200-day simple moving average is $13.07. The stock has a market capitalization of $559.03 million, a price-to-earnings ratio of 37.16 and a beta of 1.49. PubMatic, Inc. has a twelve month low of $7.46 and a twelve month high of $24.50.

PubMatic (NASDAQ:PUBM) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.18). The company had revenue of $63.83 million for the quarter, compared to analyst estimates of $62.07 million. PubMatic had a return on equity of 6.12% and a net margin of 5.96%. The firm’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.05) earnings per share. Sell-side analysts predict 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.