AlphaQuest LLC Boosts Stock Holdings in PubMatic, Inc. (NASDAQ:PUBM)

AlphaQuest LLC raised its holdings in PubMatic, Inc. (NASDAQ:PUBM) by 64.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,863 shares of the company’s stock after purchasing an additional 26,324 shares during the period. AlphaQuest LLC owned 0.14% of PubMatic worth $982,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of PUBM. New York State Teachers Retirement System purchased a new position in shares of PubMatic in the third quarter worth about $51,000. US Bancorp DE grew its stake in PubMatic by 370.1% during the third quarter. US Bancorp DE now owns 12,433 shares of the company’s stock valued at $185,000 after acquiring an additional 9,788 shares in the last quarter. CWA Asset Management Group LLC purchased a new position in PubMatic during the third quarter valued at approximately $161,000. GSA Capital Partners LLP purchased a new position in PubMatic during the third quarter valued at approximately $254,000. Finally, Victory Capital Management Inc. grew its stake in PubMatic by 99.2% during 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. Hedge funds and other institutional investors own 64.26% of the company’s stock.

Insider Transactions at PubMatic

In other news, General Counsel Andrew Woods sold 3,529 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $14.84, for a total value of $52,370.36. Following the completion of the sale, the general counsel now directly owns 34,702 shares in the company, valued at approximately $514,977.68. The trade was a 9.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Rajeev K. Goel sold 24,891 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $15.14, for a total transaction of $376,849.74. Following the completion of the sale, the chief executive officer now owns 5,896 shares of the company’s stock, valued at approximately $89,265.44. The trade was a 80.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 101,811 shares of company stock worth $1,554,021. 2.90% of the stock is currently owned by insiders.

PubMatic Price Performance

PUBM stock opened at $9.70 on Tuesday. PubMatic, Inc. has a one year low of $9.43 and a one year high of $25.36. The stock has a market cap of $470.71 million, a PE ratio of 31.29 and a beta of 1.48. The firm has a 50 day simple moving average of $14.41 and a two-hundred day simple moving average of $14.99.

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

Analyst Upgrades and Downgrades

Several brokerages recently commented on PUBM. Evercore ISI boosted their price objective on shares of PubMatic from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Macquarie reaffirmed a “neutral” rating and set a $19.00 price objective on shares of PubMatic in a research note on Thursday, November 14th. Lake Street Capital reduced their price objective 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. JMP Securities reaffirmed a “market outperform” rating and set a $20.00 price objective on shares of PubMatic in a research note on Monday, January 27th. Finally, Royal Bank of Canada reduced their price objective on shares of PubMatic from $21.00 to $19.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Four investment 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 an average rating of “Moderate Buy” and a consensus target price of $19.89.

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.