Inspire Investing LLC Sells 35,124 Shares of PubMatic, Inc. (NASDAQ:PUBM)

Inspire Investing LLC decreased its holdings in PubMatic, Inc. (NASDAQ:PUBM) by 66.7% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 17,550 shares of the company’s stock after selling 35,124 shares during the quarter. Inspire Investing LLC’s holdings in PubMatic were worth $356,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PUBM. Dimensional Fund Advisors LP raised its position in PubMatic by 17.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,555,199 shares of the company’s stock worth $25,366,000 after purchasing an additional 228,190 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of PubMatic by 22.3% in 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 period. Dynamic Technology Lab Private Ltd bought a new stake in shares of PubMatic in the 4th quarter valued at approximately $469,000. Wellington Management Group LLP raised its holdings in shares of PubMatic by 5.7% in the 4th quarter. Wellington Management Group LLP now owns 323,397 shares of the company’s stock worth $5,275,000 after buying an additional 17,497 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in shares of PubMatic during the 1st quarter worth approximately $1,412,000. 64.26% of the stock is owned by institutional investors.

PubMatic Price Performance

NASDAQ PUBM opened at $14.52 on Friday. The firm has a market cap of $719.90 million, a PE ratio of 69.15 and a beta of 1.40. PubMatic, Inc. has a one year low of $10.92 and a one year high of $25.36. The stock’s 50 day simple moving average is $17.16 and its 200 day simple moving average is $20.40.

PubMatic (NASDAQ:PUBM) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.06. PubMatic had a return on equity of 6.92% and a net margin of 7.08%. The firm had revenue of $67.27 million for the quarter, compared to the consensus estimate of $70.07 million. During the same quarter in the prior year, the business earned ($0.11) EPS. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. As a group, equities analysts expect that PubMatic, Inc. will post 0.2 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have weighed in on PUBM. Jefferies Financial Group lowered their price target on PubMatic from $26.00 to $16.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. B. Riley lowered their target price on shares of PubMatic from $31.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Wolfe Research started coverage on shares of PubMatic in a report on Tuesday, July 16th. They set an “outperform” rating and a $25.00 price target for the company. Raymond James cut shares of PubMatic from an “outperform” rating to a “market perform” rating in a research note on Friday, August 9th. Finally, Royal Bank of Canada cut their target price on shares of PubMatic from $26.00 to $23.00 and set an “outperform” rating for the company in a research note on Tuesday, August 20th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, PubMatic presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.00.

Insiders Place Their Bets

In other PubMatic news, insider Paulina Klimenko sold 4,952 shares of the company’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $20.14, for a total transaction of $99,733.28. Following the transaction, the insider now owns 6,049 shares of the company’s stock, valued at approximately $121,826.86. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, insider Paulina Klimenko sold 4,952 shares of the stock in a transaction on Friday, July 5th. The stock was sold at an average price of $20.14, for a total value of $99,733.28. Following the transaction, the insider now owns 6,049 shares of the company’s stock, valued at approximately $121,826.86. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Rajeev K. Goel sold 25,000 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $20.08, for a total value of $502,000.00. Following the completion of the transaction, the chief executive officer now directly owns 22,711 shares in the company, valued at approximately $456,036.88. The disclosure for this sale can be found here. In the last quarter, insiders have sold 119,062 shares of company stock valued at $2,182,046. 2.90% of the stock is currently owned by corporate insiders.

About PubMatic

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.