PubMatic, Inc. (NASDAQ:PUBM) Shares Sold by Two Sigma Investments LP

Two Sigma Investments LP trimmed its stake in shares of PubMatic, Inc. (NASDAQ:PUBM) by 10.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,208 shares of the company’s stock after selling 2,592 shares during the quarter. Two Sigma Investments LP’s holdings in PubMatic were worth $341,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PUBM. Avestar Capital LLC acquired a new position in PubMatic during the 4th quarter worth $4,701,000. JPMorgan Chase & Co. grew its stake in PubMatic by 263.0% during the 4th quarter. JPMorgan Chase & Co. now owns 226,328 shares of the company’s stock worth $3,325,000 after purchasing an additional 163,979 shares in the last quarter. Millennium Management LLC grew its stake in PubMatic by 76.0% during the 4th quarter. Millennium Management LLC now owns 361,381 shares of the company’s stock worth $5,309,000 after purchasing an additional 156,095 shares in the last quarter. Wellington Management Group LLP grew its stake in PubMatic by 19.4% during the 4th quarter. Wellington Management Group LLP now owns 897,970 shares of the company’s stock worth $13,191,000 after purchasing an additional 145,641 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in PubMatic by 5.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,533,718 shares of the company’s stock worth $22,531,000 after purchasing an additional 84,317 shares in the last quarter. 64.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, General Counsel Andrew Woods sold 4,111 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $9.31, for a total value of $38,273.41. Following the completion of the sale, the general counsel now directly owns 39,509 shares of the company’s stock, valued at approximately $367,828.79. The trade was a 9.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Steven Pantelick sold 4,000 shares of the business’s stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $12.07, for a total value of $48,280.00. Following the completion of the sale, the chief financial officer now directly owns 27,026 shares of the company’s stock, valued at $326,203.82. The trade was a 12.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 111,157 shares of company stock valued at $1,124,437. Insiders own 26.42% of the company’s stock.

PubMatic Price Performance

Shares of NASDAQ PUBM opened at $11.62 on Wednesday. The company has a market capitalization of $563.88 million, a price-to-earnings ratio of 37.48 and a beta of 1.54. The business has a 50-day moving average of $10.33 and a two-hundred day moving average of $12.67. PubMatic, Inc. has a 1 year low of $7.46 and a 1 year high of $22.99.

PubMatic (NASDAQ:PUBM) last posted its earnings results on Thursday, May 8th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.18). PubMatic had a net margin of 5.96% and a return on equity of 6.12%. The firm had revenue of $63.83 million during the quarter, compared to analysts’ expectations of $62.07 million. During the same period in the previous year, the firm posted ($0.05) earnings per share. The firm’s revenue for the quarter was down 4.3% on a year-over-year basis. As a group, equities research analysts expect that PubMatic, Inc. will post 0.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PUBM has been the subject of several analyst reports. Scotiabank lowered 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. Royal Bank of Canada lowered their target price on PubMatic from $17.00 to $14.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. Finally, Lake Street Capital lowered their target price on PubMatic from $21.00 to $19.00 and set a “buy” rating for the company in a research note 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 company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.11.

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.