PubMatic, Inc. (NASDAQ:PUBM) Position Lessened by Mesirow Financial Investment Management Inc.

Mesirow Financial Investment Management Inc. decreased its position in shares of PubMatic, Inc. (NASDAQ:PUBM) by 21.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,689 shares of the company’s stock after selling 2,637 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in PubMatic were worth $230,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PUBM. SVB Wealth LLC bought a new position in shares of PubMatic during the 4th quarter valued at $163,000. Harbour Capital Advisors LLC acquired a new stake in shares of PubMatic in the first quarter worth about $266,000. Public Employees Retirement System of Ohio bought a new stake in shares of PubMatic during the 3rd quarter worth about $142,000. QRG Capital Management Inc. bought a new position in shares of PubMatic in the 4th quarter valued at approximately $191,000. Finally, Arizona State Retirement System lifted its holdings in PubMatic by 9.0% in the 4th quarter. Arizona State Retirement System now owns 11,924 shares of the company’s stock worth $194,000 after purchasing an additional 984 shares during the last quarter. Hedge funds and other institutional investors own 64.26% of the company’s stock.

Insider Activity at PubMatic

In other news, insider Mukul Kumar sold 9,496 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $21.08, for a total transaction of $200,175.68. Following the sale, the insider now directly owns 30,958 shares in the company, valued at $652,594.64. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Mukul Kumar sold 9,496 shares of PubMatic stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $21.08, for a total transaction of $200,175.68. Following the sale, the insider now directly owns 30,958 shares in the company, valued at approximately $652,594.64. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Amar K. Goel sold 2,000 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $24.50, for a total transaction of $49,000.00. Following the completion of the sale, the chairman now directly owns 2,640 shares in the company, valued at approximately $64,680. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 74,504 shares of company stock worth $1,652,330. Company insiders own 2.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on PUBM shares. B. Riley began coverage on PubMatic in a report on Friday, April 19th. They set a “buy” rating and a $27.00 price target on the stock. Royal Bank of Canada raised their target price on shares of PubMatic from $26.00 to $30.00 and gave the company an “outperform” rating in a research note on Wednesday, May 8th. Two 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.com, the company has an average rating of “Moderate Buy” and an average target price of $23.00.

PubMatic Stock Up 1.1 %

Shares of PUBM stock traded up $0.23 during trading hours on Wednesday, reaching $20.67. 222,352 shares of the company’s stock were exchanged, compared to its average volume of 464,326. PubMatic, Inc. has a fifty-two week low of $10.92 and a fifty-two week high of $25.36. The stock has a market capitalization of $1.03 billion, a P/E ratio of 97.34 and a beta of 1.44. The business has a fifty day moving average price of $22.03 and a 200-day moving average price of $19.89.

PubMatic (NASDAQ:PUBM) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.07. PubMatic had a net margin of 4.42% and a return on equity of 4.21%. The firm had revenue of $66.70 million during the quarter, compared to the consensus estimate of $62.19 million. During the same period in the prior year, the firm earned ($0.09) EPS. The business’s revenue was up 20.4% on a year-over-year basis. As a group, research analysts expect that PubMatic, Inc. will post 0.24 EPS 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.