Cubist Systematic Strategies LLC Has $5.38 Million Stock Position in PubMatic, Inc. (NASDAQ:PUBM)

Cubist Systematic Strategies LLC grew its position in PubMatic, Inc. (NASDAQ:PUBM) by 54.4% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 264,988 shares of the company’s stock after acquiring an additional 93,327 shares during the period. Cubist Systematic Strategies LLC’s holdings in PubMatic were worth $5,382,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in PUBM. Magnetar Financial LLC bought a new stake in PubMatic in the 2nd quarter valued at $353,000. Sei Investments Co. lifted its position in PubMatic by 190.6% in the 2nd quarter. Sei Investments Co. now owns 70,129 shares of the company’s stock valued at $1,424,000 after acquiring an additional 45,998 shares in the last quarter. Renaissance Technologies LLC lifted its position in PubMatic by 28.8% in the 2nd quarter. Renaissance Technologies LLC now owns 1,188,700 shares of the company’s stock valued at $24,142,000 after acquiring an additional 265,700 shares in the last quarter. Mesirow Financial Investment Management Inc. lifted its position in PubMatic by 25.3% in the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 12,142 shares of the company’s stock valued at $247,000 after acquiring an additional 2,453 shares in the last quarter. Finally, Redwood Wealth Management Group LLC bought a new stake in PubMatic in the 2nd quarter valued at $29,000. Institutional investors and hedge funds own 64.26% of the company’s stock.

Insider Activity

In other news, CEO Rajeev K. Goel sold 25,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $20.08, for a total value of $502,000.00. Following the sale, the chief executive officer now directly owns 22,711 shares of the company’s stock, valued at approximately $456,036.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CFO Steven Pantelick sold 7,846 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $20.64, for a total value of $161,941.44. Following the transaction, the chief financial officer now owns 22,506 shares in the company, valued at approximately $464,523.84. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Rajeev K. Goel sold 25,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $20.08, for a total transaction of $502,000.00. Following the completion of the transaction, the chief executive officer now owns 22,711 shares in the company, valued at approximately $456,036.88. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 119,062 shares of company stock valued at $2,182,046. 2.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms recently commented on PUBM. Raymond James cut shares of PubMatic from an “outperform” rating to a “market perform” rating in a research report on Friday, August 9th. Jefferies Financial Group cut their price objective on shares of PubMatic from $26.00 to $16.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. B. Riley cut their price objective on shares of PubMatic from $31.00 to $22.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Macquarie cut their price target on shares of PubMatic from $24.00 to $19.00 and set a “neutral” rating on the stock in a research report on Friday, August 9th. Finally, Royal Bank of Canada cut their price target on shares of PubMatic from $26.00 to $23.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 20th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $21.00.

PubMatic Price Performance

Shares of NASDAQ:PUBM opened at $14.91 on Friday. The company’s 50-day moving average price is $16.47 and its two-hundred day moving average price is $20.18. The stock has a market capitalization of $739.24 million, a PE ratio of 71.00 and a beta of 1.40. PubMatic, Inc. has a one year low of $10.92 and a one year high of $25.36.

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

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.