JPMorgan Chase & Co. Buys 163,979 Shares of PubMatic, Inc. (NASDAQ:PUBM)

JPMorgan Chase & Co. increased its position in shares of PubMatic, Inc. (NASDAQ:PUBM - Free Report) by 263.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 226,328 shares of the company's stock after purchasing an additional 163,979 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.47% of PubMatic worth $3,325,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new stake in PubMatic in the 4th quarter valued at about $27,000. Principal Financial Group Inc. grew its stake in shares of 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. American Century Companies Inc. raised its position in PubMatic by 0.9% in the 4th quarter. American Century Companies Inc. now owns 271,864 shares of the company's stock worth $3,994,000 after purchasing an additional 2,461 shares during the last quarter. FMR LLC raised its position in PubMatic by 201.6% in the 3rd quarter. FMR LLC now owns 4,053 shares of the company's stock worth $60,000 after purchasing an additional 2,709 shares during the last quarter. Finally, LPL Financial LLC lifted its holdings in PubMatic by 5.1% during the 4th quarter. LPL Financial LLC now owns 112,250 shares of the company's stock worth $1,634,000 after buying an additional 5,432 shares in the last quarter. 64.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PUBM. Royal Bank of Canada dropped their target price on PubMatic from $21.00 to $19.00 and set an "outperform" rating for the company in a research report on Friday, January 3rd. Scotiabank cut their target price on shares of PubMatic from $17.00 to $15.00 and set a "sector perform" rating on the stock in a research report on Friday, February 28th. JMP Securities reaffirmed a "market outperform" rating and issued a $20.00 target price on shares of PubMatic in a research note on Monday, January 27th. 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 research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $19.89.

Insider Activity

In related news, General Counsel Andrew Woods sold 4,111 shares of PubMatic 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 $38,273.41. Following the sale, the general counsel now owns 39,509 shares of the company's stock, valued at approximately $367,828.79. This trade represents a 9.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Steven Pantelick sold 12,061 shares of the company's 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 $112,287.91. Following the transaction, the chief financial officer now directly owns 41,410 shares of the company's stock, valued at approximately $385,527.10. This trade represents a 22.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 87,210 shares of company stock worth $1,028,124 over the last quarter. 2.90% of the stock is currently owned by company insiders.

PubMatic Stock Performance

NASDAQ:PUBM traded up $0.14 during trading hours on Friday, hitting $9.99. The stock had a trading volume of 344,419 shares, compared to its average volume of 463,436. The business's 50 day moving average is $10.19 and its 200-day moving average is $13.63. The company has a market cap of $484.78 million, a price-to-earnings ratio of 32.11 and a beta of 1.50. PubMatic, Inc. has a one year low of $7.46 and a one year high of $25.36.

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 the consensus estimate of $0.37 by ($0.11). PubMatic had a return on equity of 6.12% and a net margin of 5.96%. The business had revenue of $85.50 million for the quarter, compared to analyst estimates of $88.24 million. On average, sell-side analysts anticipate that PubMatic, Inc. will post 0.22 EPS for the current fiscal year.

PubMatic 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.