Wellington Management Group LLP Increases Holdings in PubMatic, Inc. (NASDAQ:PUBM)

Wellington Management Group LLP raised its position in PubMatic, Inc. (NASDAQ:PUBM - Free Report) by 19.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 897,970 shares of the company's stock after purchasing an additional 145,641 shares during the period. Wellington Management Group LLP owned approximately 1.88% of PubMatic worth $13,191,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of PUBM. SBI Securities Co. Ltd. acquired a new stake in shares of PubMatic in the fourth quarter valued at approximately $27,000. Principal Financial Group Inc. increased its stake in PubMatic by 9.7% in the 4th quarter. Principal Financial Group Inc. now owns 25,178 shares of the company's stock valued at $370,000 after buying an additional 2,234 shares during the last quarter. American Century Companies Inc. lifted its position in PubMatic by 0.9% during the 4th quarter. American Century Companies Inc. now owns 271,864 shares of the company's stock worth $3,994,000 after buying an additional 2,461 shares in the last quarter. FMR LLC boosted its stake in shares of PubMatic by 201.6% during the 3rd quarter. FMR LLC now owns 4,053 shares of the company's stock worth $60,000 after buying an additional 2,709 shares during the last quarter. Finally, LPL Financial LLC increased its position in shares of PubMatic by 5.1% in the fourth quarter. LPL Financial LLC now owns 112,250 shares of the company's stock valued at $1,634,000 after acquiring an additional 5,432 shares during the last quarter. 64.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

PubMatic Price Performance

Shares of NASDAQ:PUBM traded down $0.07 during trading on Tuesday, reaching $8.32. 79,289 shares of the stock were exchanged, compared to its average volume of 451,971. PubMatic, Inc. has a 1-year low of $7.46 and a 1-year high of $25.36. The stock has a fifty day moving average of $11.32 and a two-hundred day moving average of $13.92. The firm has a market cap of $403.50 million, a price-to-earnings ratio of 26.82 and a beta of 1.50.

PubMatic (NASDAQ:PUBM - Get Free Report) last posted 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). The company had revenue of $85.50 million during the quarter, compared to the consensus estimate of $88.24 million. PubMatic had a net margin of 5.96% and a return on equity of 6.12%. Sell-side analysts forecast that PubMatic, Inc. will post 0.22 EPS for the current year.

Insider Buying and Selling

In other PubMatic news, CFO Steven Pantelick sold 4,000 shares of the business's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $15.14, for a total transaction of $60,560.00. Following the sale, the chief financial officer now owns 22,506 shares of the company's stock, valued at $340,740.84. The trade was a 15.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Amar K. Goel sold 4,446 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $9.31, for a total value of $41,392.26. Following the sale, the chairman now directly owns 18,401 shares in the company, valued at $171,313.31. This trade represents a 19.46 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 87,210 shares of company stock valued at $1,028,124. 2.90% of the stock is owned by company insiders.

PubMatic Company 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.