Algert Global LLC Buys 27,272 Shares of PubMatic, Inc. (NASDAQ:PUBM)

Algert Global LLC lifted its stake in shares of PubMatic, Inc. (NASDAQ:PUBM) by 19.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 171,125 shares of the company’s stock after purchasing an additional 27,272 shares during the quarter. Algert Global LLC owned about 0.34% of PubMatic worth $3,476,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Millennium Management LLC bought a new position in PubMatic in the 2nd quarter valued at about $6,582,000. Cubist Systematic Strategies LLC lifted its position in PubMatic by 54.4% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 264,988 shares of the company’s stock valued at $5,382,000 after acquiring an additional 93,327 shares in the last quarter. Magnetar Financial LLC bought a new position in PubMatic in the 2nd quarter valued at about $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. Finally, 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. Institutional investors own 64.26% of the company’s stock.

Insider Activity at PubMatic

In related news, insider Paulina Klimenko sold 4,952 shares of PubMatic stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $20.14, for a total value of $99,733.28. Following the completion of the transaction, the insider now directly owns 6,049 shares in the company, valued at approximately $121,826.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Paulina Klimenko sold 4,952 shares of PubMatic stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $20.14, for a total value of $99,733.28. Following the completion of the transaction, the insider now directly owns 6,049 shares in the company, valued at approximately $121,826.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mukul Kumar sold 8,000 shares of PubMatic stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $21.85, for a total transaction of $174,800.00. Following the completion of the transaction, the insider now owns 37,784 shares of the company’s stock, valued at $825,580.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 88,560 shares of company stock worth $1,568,891. Corporate insiders own 2.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Wolfe Research assumed coverage on shares of PubMatic in a research report on Tuesday, July 16th. They issued an “outperform” rating and a $25.00 price target on the stock. Royal Bank of Canada dropped their target price 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. B. Riley dropped their target price 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. Raymond James cut shares of PubMatic from an “outperform” rating to a “market perform” rating in a research report on Friday, August 9th. Finally, Jefferies Financial Group dropped their target price 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. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, PubMatic currently has a consensus rating of “Moderate Buy” and an average price target of $21.00.

PubMatic Stock Down 0.3 %

Shares of PUBM stock opened at $14.87 on Tuesday. The company has a 50 day moving average of $16.33 and a 200-day moving average of $20.09. PubMatic, Inc. has a 12-month low of $10.92 and a 12-month high of $25.36. The firm has a market cap of $742.47 million, a P/E ratio of 70.81 and a beta of 1.40.

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

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.