Renaissance Technologies LLC Buys 265,700 Shares of PubMatic, Inc. (NASDAQ:PUBM)

Renaissance Technologies LLC increased its stake in PubMatic, Inc. (NASDAQ:PUBM) by 28.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,188,700 shares of the company’s stock after buying an additional 265,700 shares during the quarter. Renaissance Technologies LLC owned about 2.38% of PubMatic worth $24,142,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Redwood Wealth Management Group LLC bought a new stake in PubMatic in the second quarter worth $29,000. Headlands Technologies LLC purchased a new stake in PubMatic in the second quarter worth $38,000. SG Americas Securities LLC purchased a new stake in PubMatic in the first quarter worth $107,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in PubMatic by 56.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,132 shares of the company’s stock worth $185,000 after purchasing an additional 3,280 shares during the period. Finally, Cornerstone Investment Partners LLC purchased a new stake in PubMatic in the first quarter worth $222,000. 64.26% of the stock is currently owned by institutional investors.

PubMatic Trading Up 0.7 %

Shares of PubMatic stock opened at $14.68 on Friday. The firm has a market cap of $727.83 million, a P/E ratio of 69.91 and a beta of 1.40. PubMatic, Inc. has a 12 month low of $10.92 and a 12 month high of $25.36. The stock’s fifty day moving average price is $17.38 and its 200-day moving average price is $20.48.

PubMatic (NASDAQ:PUBM) last posted its earnings results on Thursday, August 8th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.06. PubMatic had a return on equity of 6.92% and a net margin of 7.08%. The company had revenue of $67.27 million for the quarter, compared to analyst estimates of $70.07 million. During the same quarter in the previous year, the firm earned ($0.11) earnings per share. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. Analysts forecast that PubMatic, Inc. will post 0.2 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Jefferies Financial Group reduced their target price on PubMatic from $26.00 to $16.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. B. Riley reduced their target price on PubMatic from $31.00 to $22.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Raymond James lowered PubMatic from an “outperform” rating to a “market perform” rating in a research note on Friday, August 9th. Wolfe Research began coverage on PubMatic in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $25.00 target price on the stock. Finally, Macquarie cut their price target on PubMatic from $24.00 to $19.00 and set a “neutral” rating on the stock in a research note on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $21.00.

Insider Buying and Selling at PubMatic

In other PubMatic news, insider Mukul Kumar sold 8,000 shares of PubMatic stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $21.85, for a total value of $174,800.00. Following the transaction, the insider now owns 37,784 shares in the company, valued at $825,580.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other PubMatic news, CEO Rajeev K. Goel sold 25,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $20.08, for a total value of $502,000.00. Following the completion of the sale, the chief executive officer now owns 22,711 shares of the company’s stock, valued at $456,036.88. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Mukul Kumar sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $21.85, for a total value of $174,800.00. Following the completion of the sale, the insider now directly owns 37,784 shares of the company’s stock, valued at approximately $825,580.40. The disclosure for this sale can be found here. Insiders have sold 119,062 shares of company stock worth $2,182,046 over the last quarter. Insiders own 2.90% of the company’s stock.

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.