Magnetar Financial LLC Buys New Position in PubMatic, Inc. (NASDAQ:PUBM)

Magnetar Financial LLC bought a new stake in shares of PubMatic, Inc. (NASDAQ:PUBM - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 28,736 shares of the company's stock, valued at approximately $422,000. Magnetar Financial LLC owned approximately 0.06% of PubMatic at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. GSA Capital Partners LLP acquired a new position in shares of PubMatic during the third quarter worth about $254,000. Victory Capital Management Inc. grew its position in PubMatic by 99.2% in the third quarter. Victory Capital Management Inc. now owns 72,083 shares of the company's stock valued at $1,072,000 after acquiring an additional 35,898 shares in the last quarter. Quest Partners LLC raised its stake in shares of PubMatic by 130.6% during the third quarter. Quest Partners LLC now owns 40,539 shares of the company's stock valued at $603,000 after purchasing an additional 22,956 shares during the period. Intech Investment Management LLC acquired a new position in shares of PubMatic during the third quarter worth $170,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of PubMatic by 122.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 434,867 shares of the company's stock worth $6,466,000 after purchasing an additional 239,406 shares in the last quarter. 64.26% of the stock is owned by hedge funds and other institutional investors.

PubMatic Stock Down 1.6 %

PUBM stock traded down $0.16 during mid-day trading on Thursday, reaching $9.95. The company had a trading volume of 333,456 shares, compared to its average volume of 433,672. PubMatic, Inc. has a one year low of $9.07 and a one year high of $25.36. The stock's 50-day simple moving average is $13.23 and its two-hundred day simple moving average is $14.52. The stock has a market capitalization of $482.84 million, a P/E ratio of 32.10 and a beta of 1.48.

Remove Ads

PubMatic (NASDAQ:PUBM - Get Free Report) last released its quarterly 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 net margin of 5.96% and a return on equity of 6.12%. The business had revenue of $85.50 million for the quarter, compared to the consensus estimate of $88.24 million. On average, research analysts forecast that PubMatic, Inc. will post 0.22 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on PUBM shares. 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 reduced 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. 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. Finally, Royal Bank of Canada reduced their price target on shares of PubMatic from $21.00 to $19.00 and set an "outperform" rating on the stock in a research report on Friday, January 3rd. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, PubMatic currently has an average rating of "Moderate Buy" and a consensus target price of $19.89.

Insiders Place Their Bets

In related news, Chairman Amar K. Goel sold 4,087 shares of PubMatic stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $14.84, for a total transaction of $60,651.08. Following the sale, the chairman now directly owns 14,044 shares in the company, valued at $208,412.96. The trade was a 22.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mukul Kumar sold 7,000 shares of the company's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $16.51, for a total transaction of $115,570.00. Following the completion of the sale, the insider now directly owns 52,005 shares of the company's stock, valued at $858,602.55. The trade was a 11.86 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 94,811 shares of company stock worth $1,438,381. 2.90% of the stock is owned by company insiders.

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.