EFG Asset Management North America Corp. Buys 49,133 Shares of PubMatic, Inc. (NASDAQ:PUBM)

EFG Asset Management North America Corp. grew its stake in shares of PubMatic, Inc. (NASDAQ:PUBM) by 58.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 133,756 shares of the company’s stock after buying an additional 49,133 shares during the period. EFG Asset Management North America Corp.’s holdings in PubMatic were worth $1,964,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Victory Capital Management Inc. boosted its stake in PubMatic by 99.2% during the 3rd quarter. Victory Capital Management Inc. now owns 72,083 shares of the company’s stock worth $1,072,000 after acquiring an additional 35,898 shares during the last quarter. Intech Investment Management LLC acquired a new stake in PubMatic in the third quarter worth $170,000. Charles Schwab Investment Management Inc. raised its holdings in PubMatic by 122.5% in 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 during the period. Pitcairn Co. boosted its position in shares of PubMatic by 45.6% during the third quarter. Pitcairn Co. now owns 20,177 shares of the company’s stock worth $300,000 after purchasing an additional 6,322 shares in the last quarter. Finally, FMR LLC grew its holdings in shares of PubMatic by 201.6% in the 3rd 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 period. 64.26% of the stock is currently owned by institutional investors and hedge funds.

PubMatic Stock Up 5.6 %

NASDAQ PUBM opened at $10.45 on Wednesday. The firm’s 50 day moving average is $13.32 and its 200-day moving average is $14.55. The company has a market capitalization of $507.11 million, a PE ratio of 33.71 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 quarterly 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). PubMatic had a net margin of 5.96% and a return on equity of 6.12%. The business had revenue of $85.50 million during the quarter, compared to analyst estimates of $88.24 million. As a group, sell-side analysts expect that PubMatic, Inc. will post 0.22 EPS for the current year.

Insider Buying and Selling

In other PubMatic news, insider Mukul Kumar sold 7,000 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Amar K. Goel sold 4,087 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $14.84, for a total transaction of $60,651.08. Following the transaction, the chairman now owns 14,044 shares in the company, valued at approximately $208,412.96. The trade was a 22.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 94,811 shares of company stock worth $1,438,381. Corporate insiders own 2.90% of the company’s stock.

Analysts Set New Price Targets

PUBM has been the topic of several recent analyst reports. 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. Lake Street Capital decreased their price objective on PubMatic from $24.00 to $21.00 and set a “buy” rating for the company in a research report on Friday, February 28th. Scotiabank lowered 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. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $20.00 price target 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 issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $19.89.

About PubMatic

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.