Los Angeles Capital Management LLC Has $1.08 Million Stock Position in PubMatic, Inc. (NASDAQ:PUBM)

Los Angeles Capital Management LLC decreased its stake in PubMatic, Inc. (NASDAQ:PUBM) by 10.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 53,213 shares of the company’s stock after selling 6,300 shares during the quarter. Los Angeles Capital Management LLC owned 0.11% of PubMatic worth $1,081,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. SG Americas Securities LLC acquired a new position in shares of PubMatic in the 1st quarter valued at $107,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in PubMatic by 56.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,132 shares of the company’s stock worth $185,000 after acquiring an additional 3,280 shares during the period. QRG Capital Management Inc. acquired a new stake in PubMatic during the 4th quarter worth about $191,000. Cornerstone Investment Partners LLC acquired a new stake in PubMatic during the 1st quarter worth about $222,000. Finally, Mesirow Financial Investment Management Inc. boosted its position in PubMatic by 25.3% during the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 12,142 shares of the company’s stock worth $247,000 after acquiring an additional 2,453 shares during the period. Institutional investors and hedge funds own 64.26% of the company’s stock.

PubMatic Stock Up 0.4 %

Shares of NASDAQ PUBM opened at $14.11 on Thursday. The business’s 50 day moving average is $17.95 and its two-hundred day moving average is $20.66. The company has a market cap of $704.53 million, a P/E ratio of 67.19 and a beta of 1.41. PubMatic, Inc. has a 12 month low of $10.92 and a 12 month high of $25.36.

PubMatic (NASDAQ:PUBM) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.06. The company had revenue of $67.27 million for the quarter, compared to the consensus estimate of $70.07 million. PubMatic had a return on equity of 6.92% and a net margin of 7.08%. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the previous year, the business posted ($0.11) EPS. Sell-side analysts expect that PubMatic, Inc. will post 0.2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PUBM. Macquarie decreased their price objective on PubMatic from $24.00 to $19.00 and set a “neutral” rating for the company in a research report on Friday, August 9th. B. Riley decreased their price objective on PubMatic from $31.00 to $22.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Jefferies Financial Group decreased their price objective on PubMatic from $26.00 to $16.00 and set a “hold” rating for the company in a research report on Friday, August 9th. Royal Bank of Canada decreased their price objective on PubMatic from $26.00 to $23.00 and set an “outperform” rating for the company in a research report on Tuesday, August 20th. Finally, Wolfe Research started coverage on PubMatic in a research note on Tuesday, July 16th. They set an “outperform” rating and a $25.00 price target for the company. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, PubMatic has an average rating of “Moderate Buy” and a consensus target price of $21.00.

Insider Transactions at PubMatic

In other news, CAO Lisa Gimbel sold 2,397 shares of PubMatic stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $13.66, for a total transaction of $32,743.02. Following the sale, the chief accounting officer now owns 3,956 shares of the company’s stock, valued at approximately $54,038.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Lisa Gimbel sold 2,397 shares of PubMatic stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $13.66, for a total transaction of $32,743.02. Following the sale, the chief accounting officer now owns 3,956 shares of the company’s stock, valued at approximately $54,038.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Andrew Woods sold 2,710 shares of PubMatic stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $15.30, for a total value of $41,463.00. Following the sale, the general counsel now directly owns 26,739 shares in the company, valued at approximately $409,106.70. The disclosure for this sale can be found here. In the last quarter, insiders have sold 128,558 shares of company stock valued at $2,382,222. 2.90% of the stock is owned by corporate 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.