Charles Schwab Investment Management Inc. Decreases Position in PubMatic, Inc. (NASDAQ:PUBM)

Charles Schwab Investment Management Inc. decreased its position in shares of PubMatic, Inc. (NASDAQ:PUBM - Free Report) by 11.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 385,088 shares of the company's stock after selling 49,779 shares during the period. Charles Schwab Investment Management Inc. owned about 0.81% of PubMatic worth $5,657,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. SBI Securities Co. Ltd. bought a new position in shares of PubMatic in the 4th quarter valued at $27,000. Principal Financial Group Inc. grew its position in PubMatic by 9.7% in 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 during the last quarter. Avestar Capital LLC acquired a new position in PubMatic during the fourth quarter worth about $4,701,000. Leibman Financial Services Inc. lifted its holdings in shares of PubMatic by 17.0% in the fourth quarter. Leibman Financial Services Inc. now owns 56,690 shares of the company's stock worth $833,000 after acquiring an additional 8,231 shares during the last quarter. Finally, Nordea Investment Management AB boosted its stake in shares of PubMatic by 377.4% in the 4th quarter. Nordea Investment Management AB now owns 340,544 shares of the company's stock valued at $5,101,000 after purchasing an additional 269,217 shares in the last quarter. 64.26% of the stock is owned by institutional investors.

PubMatic Stock Performance

Shares of PubMatic stock traded down $0.67 during trading hours on Friday, reaching $9.28. The company's stock had a trading volume of 490,404 shares, compared to its average volume of 443,547. The stock's fifty day simple moving average is $13.14 and its two-hundred day simple moving average is $14.49. The company has a market capitalization of $450.33 million, a P/E ratio of 29.94 and a beta of 1.48. PubMatic, Inc. has a one year low of $9.07 and a one year high of $25.36.

Remove Ads

PubMatic (NASDAQ:PUBM - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The company reported $0.26 EPS for the quarter, missing analysts' consensus estimates of $0.37 by ($0.11). The company had revenue of $85.50 million for the quarter, compared to the consensus estimate of $88.24 million. PubMatic had a return on equity of 6.12% and a net margin of 5.96%. As a group, research analysts forecast that PubMatic, Inc. will post 0.22 earnings per share for the current year.

Insiders Place Their Bets

In other PubMatic news, CEO Rajeev K. Goel sold 24,891 shares of PubMatic stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $15.14, for a total transaction of $376,849.74. Following the transaction, the chief executive officer now owns 5,896 shares of the company's stock, valued at $89,265.44. This trade represents a 80.85 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mukul Kumar sold 4,480 shares of the company's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $14.84, for a total value of $66,483.20. Following the completion of the transaction, the insider now directly owns 52,005 shares of the company's stock, valued at approximately $771,754.20. This represents a 7.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 94,811 shares of company stock valued at $1,438,381 in the last three months. 2.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on PUBM shares. JMP Securities restated a "market outperform" rating and issued a $20.00 target price on shares of PubMatic in a research report on Monday, January 27th. Scotiabank lowered their target price on PubMatic from $17.00 to $15.00 and set a "sector perform" rating for the company in a report on Friday, February 28th. Lake Street Capital dropped their price objective on shares of PubMatic from $24.00 to $21.00 and set a "buy" rating for the company in a report on Friday, February 28th. Finally, Royal Bank of Canada reduced their target price on shares of PubMatic from $21.00 to $19.00 and set an "outperform" rating on the stock in a report on Friday, January 3rd. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $19.89.

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.