Founders Capital Management Acquires 1,000 Shares of PubMatic, Inc. (NASDAQ:PUBM)

Founders Capital Management lifted its holdings in PubMatic, Inc. (NASDAQ:PUBM) by 100.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,000 shares of the company’s stock after purchasing an additional 1,000 shares during the quarter. Founders Capital Management’s holdings in PubMatic were worth $30,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in PUBM. Millennium Management LLC acquired a new stake in shares of PubMatic in the 2nd quarter valued at approximately $6,582,000. Acadian Asset Management LLC grew its position in shares of PubMatic by 28,255.4% in the 2nd quarter. Acadian Asset Management LLC now owns 291,493 shares of the company’s stock valued at $5,915,000 after acquiring an additional 290,465 shares during the period. Renaissance Technologies LLC grew its position in shares of 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 during the period. Jacobs Levy Equity Management Inc. increased its stake in shares of PubMatic by 92.5% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 440,127 shares of the company’s stock worth $10,440,000 after purchasing an additional 211,520 shares during the last quarter. Finally, Hillsdale Investment Management Inc. bought a new stake in shares of PubMatic in the 1st quarter valued at about $4,711,000. Institutional investors and hedge funds own 64.26% of the company’s stock.

PubMatic Stock Performance

NASDAQ:PUBM traded down $0.29 during mid-day trading on Monday, reaching $14.48. 339,713 shares of the company’s stock were exchanged, compared to its average volume of 481,403. PubMatic, Inc. has a one year low of $10.92 and a one year high of $25.36. The business’s fifty day simple moving average is $15.71 and its two-hundred day simple moving average is $19.85. The firm has a market capitalization of $723.00 million, a PE ratio of 70.33 and a beta of 1.39.

PubMatic (NASDAQ:PUBM) last announced its 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 analysts’ expectations of $70.07 million. PubMatic had a net margin of 7.08% and a return on equity of 6.92%. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period last year, the firm earned ($0.11) earnings per share. As a group, equities research analysts forecast that PubMatic, Inc. will post 0.2 EPS for the current year.

Insider Buying and Selling at PubMatic

In related news, CAO Lisa Gimbel sold 2,397 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $13.66, for a total value of $32,743.02. Following the transaction, the chief accounting officer now owns 3,956 shares in the company, valued at approximately $54,038.96. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Lisa Gimbel sold 2,397 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were 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 in the company, valued at approximately $54,038.96. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Rajeev K. Goel sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $18.73, for a total transaction of $468,250.00. The disclosure for this sale can be found here. Insiders sold 118,896 shares of company stock valued at $1,906,263 in the last three months. Corporate insiders own 2.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PUBM. Royal Bank of Canada lowered their price target on 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 price target on PubMatic from $31.00 to $22.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Wolfe Research began coverage on shares of PubMatic in a research report on Tuesday, July 16th. They set an “outperform” rating and a $25.00 price objective for the company. Raymond James lowered shares of PubMatic from an “outperform” rating to a “market perform” rating in a research report on Friday, August 9th. Finally, Jefferies Financial Group cut their target price on shares of PubMatic from $26.00 to $16.00 and set a “hold” rating for the company in a research note on Friday, August 9th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $21.00.

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.