Hillsdale Investment Management Inc. Sells 22,000 Shares of PubMatic, Inc. (NASDAQ:PUBM)

Hillsdale Investment Management Inc. lessened its holdings in PubMatic, Inc. (NASDAQ:PUBM) by 11.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 169,700 shares of the company’s stock after selling 22,000 shares during the period. Hillsdale Investment Management Inc. owned approximately 0.36% of PubMatic worth $2,493,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new position in shares of PubMatic in the 4th quarter worth approximately $27,000. FMR LLC raised its stake in PubMatic by 201.6% during the third quarter. FMR LLC now owns 4,053 shares of the company’s stock worth $60,000 after acquiring an additional 2,709 shares in the last quarter. Intech Investment Management LLC bought a new position in shares of PubMatic during the third quarter valued at $170,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of PubMatic by 37.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,593 shares of the company’s stock valued at $187,000 after purchasing an additional 3,461 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of PubMatic in the 3rd quarter worth about $240,000. Institutional investors own 64.26% of the company’s stock.

Analyst Ratings Changes

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

PubMatic Stock Up 0.2 %

Shares of PUBM opened at $9.75 on Friday. The stock’s fifty day simple moving average is $13.47 and its 200-day simple moving average is $14.62. The firm has a market capitalization of $473.14 million, a PE ratio of 31.45 and a beta of 1.48. PubMatic, Inc. has a 12-month low of $9.07 and a 12-month high of $25.36.

PubMatic (NASDAQ:PUBM) last issued its earnings results on Thursday, February 27th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.11). The business 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%. Analysts anticipate that PubMatic, Inc. will post 0.22 EPS for the current year.

Insiders Place Their Bets

In other PubMatic news, CEO Rajeev K. Goel sold 18,391 shares of PubMatic stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $15.44, for a total value of $283,957.04. Following the transaction, the chief executive officer now owns 12,505 shares of the company’s stock, valued at approximately $193,077.20. The trade was a 59.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Mukul Kumar sold 7,000 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $16.51, for a total transaction of $115,570.00. Following the sale, the insider now directly owns 52,005 shares of the company’s stock, valued at $858,602.55. This represents a 11.86 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 94,811 shares of company stock valued at $1,438,381. Company insiders own 2.90% of the company’s stock.

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.