PubMatic, Inc. (NASDAQ:PUBM) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC decreased its holdings in PubMatic, Inc. (NASDAQ:PUBM - Free Report) by 2.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,063,500 shares of the company's stock after selling 30,100 shares during the period. Renaissance Technologies LLC owned about 2.23% of PubMatic worth $15,623,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in PUBM. SBI Securities Co. Ltd. purchased a new stake in shares of PubMatic during the 4th quarter worth $27,000. FMR LLC lifted its position in shares of PubMatic by 201.6% during 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 during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of PubMatic during the fourth quarter valued at about $106,000. Virtu Financial LLC bought a new stake in shares of PubMatic in the 3rd quarter valued at about $240,000. Finally, Pitcairn Co. grew its position in shares of PubMatic by 7.3% in the 4th quarter. Pitcairn Co. now owns 21,654 shares of the company's stock worth $318,000 after buying an additional 1,477 shares during the last quarter. 64.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on PUBM shares. Lake Street Capital cut their price target on shares of PubMatic from $24.00 to $21.00 and set a "buy" rating on the stock in a report on Friday, February 28th. Royal Bank of Canada decreased their price target on PubMatic from $21.00 to $19.00 and set an "outperform" rating for the company in a research note on Friday, January 3rd. Scotiabank dropped their price target on PubMatic from $17.00 to $15.00 and set a "sector perform" rating on the stock in a research note on Friday, February 28th. Finally, JMP Securities reiterated a "market outperform" rating and set a $20.00 price objective on shares of PubMatic in a research note on Monday, January 27th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, PubMatic currently has an average rating of "Moderate Buy" and an average price target of $19.89.

Insiders Place Their Bets

In related news, CEO Rajeev K. Goel sold 24,891 shares of the business's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $15.14, for a total value of $376,849.74. Following the sale, the chief executive officer now directly owns 5,896 shares in the company, valued at $89,265.44. The trade was a 80.85 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mukul Kumar sold 7,000 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $16.51, for a total value of $115,570.00. Following the sale, the insider now owns 52,005 shares in the company, valued at approximately $858,602.55. This trade represents a 11.86 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 87,210 shares of company stock worth $1,028,124. 2.90% of the stock is owned by corporate insiders.

PubMatic Stock Up 12.2 %

PubMatic stock traded up $0.99 during mid-day trading on Friday, reaching $9.13. 1,340,384 shares of the company's stock were exchanged, compared to its average volume of 458,718. The company has a market cap of $443.05 million, a P/E ratio of 29.45 and a beta of 1.50. PubMatic, Inc. has a twelve month low of $7.46 and a twelve month high of $25.36. The company has a fifty day moving average of $10.86 and a 200-day moving average of $13.80.

PubMatic (NASDAQ:PUBM - Get Free Report) last issued its earnings results on Thursday, February 27th. The company reported $0.26 EPS 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 analyst estimates of $88.24 million. Equities research analysts expect that PubMatic, Inc. will post 0.22 earnings per share 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.