AlphaQuest LLC Purchases 26,324 Shares of PubMatic, Inc. (NASDAQ:PUBM)

AlphaQuest LLC raised its stake in shares of PubMatic, Inc. (NASDAQ:PUBM) by 64.9% during the fourth quarter, Holdings Channel reports. The firm owned 66,863 shares of the company’s stock after buying an additional 26,324 shares during the quarter. AlphaQuest LLC’s holdings in PubMatic were worth $982,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. SBI Securities Co. Ltd. purchased a new position in PubMatic during the 4th quarter valued at $27,000. Principal Financial Group Inc. increased its position in PubMatic by 9.7% during the 4th quarter. Principal Financial Group Inc. now owns 25,178 shares of the company’s stock valued at $370,000 after purchasing an additional 2,234 shares during the period. Avestar Capital LLC purchased a new position in PubMatic during the 4th quarter valued at $4,701,000. Leibman Financial Services Inc. increased its position in PubMatic by 17.0% during the 4th quarter. Leibman Financial Services Inc. now owns 56,690 shares of the company’s stock valued at $833,000 after purchasing an additional 8,231 shares during the period. Finally, Nordea Investment Management AB increased its position in PubMatic by 377.4% during the 4th quarter. Nordea Investment Management AB now owns 340,544 shares of the company’s stock valued at $5,101,000 after purchasing an additional 269,217 shares during the period. 64.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at PubMatic

In related news, General Counsel Andrew Woods sold 3,529 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $14.84, for a total transaction of $52,370.36. Following the sale, the general counsel now directly owns 34,702 shares of the company’s stock, valued at approximately $514,977.68. This represents a 9.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Amar K. Goel sold 4,087 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $14.84, for a total transaction of $60,651.08. Following the sale, the chairman now directly owns 14,044 shares in the company, valued at $208,412.96. This trade represents a 22.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 101,811 shares of company stock valued at $1,554,021. 2.90% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on PUBM shares. Scotiabank reduced their price objective on shares of PubMatic from $17.00 to $15.00 and set a “sector perform” rating on the stock in a research report on Friday, February 28th. JMP Securities reaffirmed a “market outperform” rating and issued a $20.00 target price on shares of PubMatic in a research report on Monday, January 27th. Macquarie reaffirmed a “neutral” rating and issued a $19.00 target price on shares of PubMatic in a research report on Thursday, November 14th. Royal Bank of Canada reduced their target price on shares of PubMatic from $21.00 to $19.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Finally, Lake Street Capital reduced their target price on shares of PubMatic from $24.00 to $21.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $19.89.

PubMatic Stock Performance

Shares of PUBM stock opened at $9.70 on Tuesday. PubMatic, Inc. has a one year low of $9.43 and a one year high of $25.36. The company’s 50-day moving average is $14.41 and its 200 day moving average is $14.99. The company has a market capitalization of $470.71 million, a price-to-earnings ratio of 31.29 and a beta of 1.48.

PubMatic (NASDAQ:PUBM) last announced its quarterly earnings data on Thursday, February 27th. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.11). PubMatic had a net margin of 5.96% and a return on equity of 6.12%. The firm had revenue of $85.50 million for the quarter, compared to analysts’ expectations of $88.24 million. As a group, research analysts predict that PubMatic, Inc. will post 0.22 earnings per share for the current fiscal year.

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.