Rhumbline Advisers Sells 7,335 Shares of PubMatic, Inc. (NASDAQ:PUBM)

Rhumbline Advisers decreased its position in PubMatic, Inc. (NASDAQ:PUBM) by 10.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 61,092 shares of the company’s stock after selling 7,335 shares during the quarter. Rhumbline Advisers’ holdings in PubMatic were worth $1,241,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. SG Americas Securities LLC bought a new position in PubMatic in the first quarter valued at about $107,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in PubMatic by 56.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,132 shares of the company’s stock valued at $185,000 after acquiring an additional 3,280 shares during the period. Cornerstone Investment Partners LLC bought a new position in PubMatic in the first quarter valued at about $222,000. Mesirow Financial Investment Management Inc. lifted its holdings in PubMatic by 25.3% in the second quarter. Mesirow Financial Investment Management Inc. now owns 12,142 shares of the company’s stock valued at $247,000 after acquiring an additional 2,453 shares during the period. Finally, Harbour Capital Advisors LLC bought a new position in PubMatic in the first quarter valued at about $266,000. Institutional investors own 64.26% of the company’s stock.

PubMatic Trading Down 1.1 %

Shares of PUBM opened at $14.52 on Friday. The business’s 50 day moving average is $17.16 and its 200 day moving average is $20.40. The company has a market capitalization of $719.90 million, a PE ratio of 69.15 and a beta of 1.40. PubMatic, Inc. has a 12-month low of $10.92 and a 12-month high of $25.36.

PubMatic (NASDAQ:PUBM) last issued its earnings results on Thursday, August 8th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.06. The company had revenue of $67.27 million for the quarter, compared to the consensus estimate of $70.07 million. PubMatic had a return on equity of 6.92% and a net margin of 7.08%. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter last year, the company earned ($0.11) EPS. Equities research analysts predict that PubMatic, Inc. will post 0.2 earnings per share for the current year.

Insider Activity at PubMatic

In related news, CEO Rajeev K. Goel sold 25,000 shares of PubMatic stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $20.08, for a total transaction of $502,000.00. Following the sale, the chief executive officer now owns 22,711 shares of the company’s stock, valued at approximately $456,036.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other PubMatic news, CEO Rajeev K. Goel sold 25,000 shares of PubMatic stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $20.08, for a total value of $502,000.00. Following the sale, the chief executive officer now owns 22,711 shares of the company’s stock, valued at approximately $456,036.88. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Andrew Woods sold 3,266 shares of PubMatic stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $20.41, for a total value of $66,659.06. Following the completion of the sale, the general counsel now directly owns 28,070 shares in the company, valued at approximately $572,908.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 119,062 shares of company stock valued at $2,182,046. 2.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on PUBM shares. Macquarie decreased their price objective on PubMatic from $24.00 to $19.00 and set a “neutral” rating on the stock in a research note on Friday, August 9th. Raymond James cut PubMatic from an “outperform” rating to a “market perform” rating in a research report on Friday, August 9th. Jefferies Financial Group lowered their price objective on PubMatic from $26.00 to $16.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. Royal Bank of Canada lowered their price objective on PubMatic from $26.00 to $23.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 20th. Finally, Wolfe Research initiated coverage on PubMatic in a research report on Tuesday, July 16th. They set an “outperform” rating and a $25.00 price objective on the stock. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, PubMatic has an average rating of “Moderate Buy” and a consensus price target of $21.00.

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.