Wellington Management Group LLP Increases Position in PubMatic, Inc. (NASDAQ:PUBM)

Wellington Management Group LLP raised its position in shares of PubMatic, Inc. (NASDAQ:PUBM) by 5.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 323,397 shares of the company’s stock after purchasing an additional 17,497 shares during the period. Wellington Management Group LLP’s holdings in PubMatic were worth $5,275,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Arizona State Retirement System lifted its position 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 buying an additional 984 shares during the last quarter. Strs Ohio lifted its holdings in shares of PubMatic by 7.7% in the 4th quarter. Strs Ohio now owns 33,700 shares of the company’s stock worth $549,000 after acquiring an additional 2,400 shares during the last quarter. Versor Investments LP lifted its holdings in shares of PubMatic by 16.0% in the 4th quarter. Versor Investments LP now owns 22,247 shares of the company’s stock worth $363,000 after acquiring an additional 3,073 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of PubMatic by 22.3% during the 4th quarter. Principal Financial Group Inc. now owns 26,418 shares of the company’s stock valued at $431,000 after purchasing an additional 4,810 shares during the last quarter. Finally, SVB Wealth LLC bought a new position in shares of PubMatic during the 4th quarter valued at $163,000. Institutional investors own 64.26% of the company’s stock.

Analyst Ratings Changes

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

PubMatic Trading Up 3.7 %

Shares of NASDAQ:PUBM opened at $20.31 on Friday. The company has a 50-day moving average price of $22.11 and a 200-day moving average price of $19.83. The company has a market cap of $1.01 billion, a price-to-earnings ratio of 96.72 and a beta of 1.48. PubMatic, Inc. has a 12 month low of $10.92 and a 12 month high of $25.36.

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

Insider Activity at PubMatic

In other PubMatic news, insider Mukul Kumar sold 9,496 shares of the business’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $21.08, for a total transaction of $200,175.68. Following the transaction, the insider now directly owns 30,958 shares of the company’s stock, valued at approximately $652,594.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Rajeev K. Goel sold 25,000 shares of PubMatic stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $21.28, for a total transaction of $532,000.00. Following the sale, the chief executive officer now directly owns 9,000 shares in the company, valued at $191,520. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mukul Kumar sold 9,496 shares of the stock in a transaction on Monday, June 17th. The stock was sold at an average price of $21.08, for a total value of $200,175.68. Following the completion of the transaction, the insider now owns 30,958 shares of the company’s stock, valued at approximately $652,594.64. The disclosure for this sale can be found here. Insiders sold a total of 103,120 shares of company stock worth $2,323,160 over the last quarter. 2.90% of the stock is owned by corporate insiders.

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.