Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of PubMatic, Inc. (NASDAQ:PUBM - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 82,748 shares of the company's stock, valued at approximately $1,216,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.17% of PubMatic at the end of the most recent quarter.
Several other large investors have also made changes to their positions in PUBM. SBI Securities Co. Ltd. acquired a new stake in PubMatic in the fourth quarter valued at approximately $27,000. FMR LLC boosted its position in PubMatic by 201.6% in the third quarter. FMR LLC now owns 4,053 shares of the company's stock valued at $60,000 after buying an additional 2,709 shares in the last quarter. Intech Investment Management LLC acquired a new stake in PubMatic in the third quarter valued at approximately $170,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in PubMatic by 37.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,593 shares of the company's stock valued at $187,000 after buying an additional 3,461 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in PubMatic in the third quarter valued at approximately $240,000. Institutional investors and hedge funds own 64.26% of the company's stock.
Insider Buying and Selling at PubMatic
In other PubMatic news, CEO Rajeev K. Goel sold 17,793 shares of PubMatic stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $14.84, for a total value of $264,048.12. Following the completion of the sale, the chief executive officer now directly owns 30,896 shares of the company's stock, valued at approximately $458,496.64. The trade was a 36.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Steven Pantelick sold 10,040 shares of PubMatic stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $14.84, for a total transaction of $148,993.60. Following the completion of the sale, the chief financial officer now directly owns 38,285 shares of the company's stock, valued at approximately $568,149.40. This trade represents a 20.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 94,811 shares of company stock valued at $1,438,381. Corporate insiders own 2.90% of the company's stock.
PubMatic Price Performance
NASDAQ PUBM traded up $0.02 during mid-day trading on Friday, reaching $9.75. 1,033,874 shares of the stock were exchanged, compared to its average volume of 431,782. PubMatic, Inc. has a one year low of $9.07 and a one year high of $25.36. The stock has a 50 day simple moving average of $13.47 and a 200-day simple moving average of $14.62. The stock has a market cap of $473.14 million, a P/E ratio of 31.45 and a beta of 1.48.
PubMatic (NASDAQ:PUBM - Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported $0.26 earnings per share for the quarter, missing analysts' consensus estimates of $0.37 by ($0.11). PubMatic had a return on equity of 6.12% and a net margin of 5.96%. The firm had revenue of $85.50 million for the quarter, compared to the consensus estimate of $88.24 million. Sell-side analysts anticipate that PubMatic, Inc. will post 0.22 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several research firms have recently issued reports on PUBM. JMP Securities reaffirmed a "market outperform" rating and set a $20.00 price target on shares of PubMatic in a research note on Monday, January 27th. Scotiabank dropped their price target on shares of 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 dropped their price target on shares of PubMatic from $21.00 to $19.00 and set an "outperform" rating for the company in a research note on Friday, January 3rd. Finally, Lake Street Capital dropped their price target on shares of PubMatic from $24.00 to $21.00 and set a "buy" rating for the company in a research note on Friday, February 28th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $19.89.
Check Out Our Latest Stock Analysis on PubMatic
PubMatic Profile
(
Free Report)
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.
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