Hillsdale Investment Management Inc. Sells 22,000 Shares of PubMatic, Inc. (NASDAQ:PUBM)

Hillsdale Investment Management Inc. reduced its position in PubMatic, Inc. (NASDAQ:PUBM) by 11.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 169,700 shares of the company’s stock after selling 22,000 shares during the period. Hillsdale Investment Management Inc.’s holdings in PubMatic were worth $2,493,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC raised its stake in PubMatic by 0.8% in the third quarter. Geode Capital Management LLC now owns 961,155 shares of the company’s stock valued at $14,295,000 after buying an additional 7,225 shares during the period. Wellington Management Group LLP lifted its holdings in PubMatic by 222.8% during the 3rd quarter. Wellington Management Group LLP now owns 752,329 shares of the company’s stock valued at $11,187,000 after purchasing an additional 519,275 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its position in PubMatic by 17.4% during the third quarter. Jacobs Levy Equity Management Inc. now owns 676,464 shares of the company’s stock worth $10,059,000 after purchasing an additional 100,479 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of PubMatic by 122.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 434,867 shares of the company’s stock valued at $6,466,000 after purchasing an additional 239,406 shares during the period. Finally, Nordea Investment Management AB raised its position in shares of PubMatic by 377.4% in the fourth 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. Institutional investors own 64.26% of the company’s stock.

PubMatic Stock Performance

NASDAQ:PUBM opened at $9.75 on Friday. PubMatic, Inc. has a fifty-two week low of $9.07 and a fifty-two week high of $25.36. The company has a market cap of $473.14 million, a price-to-earnings ratio of 31.45 and a beta of 1.48. The stock has a fifty day moving average price of $13.47 and a 200-day moving average price of $14.62.

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

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Scotiabank reduced their target price on shares of PubMatic from $17.00 to $15.00 and set a “sector perform” rating for the company in a report on Friday, February 28th. Royal Bank of Canada decreased their target price on PubMatic from $21.00 to $19.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Lake Street Capital dropped their price target on PubMatic from $24.00 to $21.00 and set a “buy” rating for the company in a report on Friday, February 28th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $20.00 price objective on shares of PubMatic in a report on Monday, January 27th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $19.89.

Insider Buying and Selling

In other news, Chairman Amar K. Goel sold 4,087 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $14.84, for a total transaction of $60,651.08. Following the completion of the transaction, the chairman now owns 14,044 shares of the company’s stock, valued at approximately $208,412.96. The trade was a 22.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Steven Pantelick sold 10,040 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $14.84, for a total value of $148,993.60. Following the sale, the chief financial officer now owns 38,285 shares of the company’s stock, valued at approximately $568,149.40. This represents a 20.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 94,811 shares of company stock worth $1,438,381. Corporate insiders own 2.90% of the company’s stock.

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.