Inspire Investing LLC Acquires 10,109 Shares of PubMatic, Inc. (NASDAQ:PUBM)

Inspire Investing LLC raised its stake in shares of PubMatic, Inc. (NASDAQ:PUBM) by 57.6% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 27,659 shares of the company’s stock after purchasing an additional 10,109 shares during the period. Inspire Investing LLC’s holdings in PubMatic were worth $411,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Redwood Wealth Management Group LLC bought a new stake in shares of PubMatic in the 2nd quarter worth $29,000. Founders Capital Management boosted its holdings in PubMatic by 100.0% during the third quarter. Founders Capital Management now owns 2,000 shares of the company’s stock worth $30,000 after purchasing an additional 1,000 shares during the last quarter. Headlands Technologies LLC bought a new stake in PubMatic in the 2nd quarter worth about $38,000. SG Americas Securities LLC purchased a new stake in PubMatic in the 1st quarter valued at about $107,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of PubMatic by 56.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,132 shares of the company’s stock worth $185,000 after buying an additional 3,280 shares in the last quarter. 64.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on PUBM shares. Macquarie reduced their target price on PubMatic from $24.00 to $19.00 and set a “neutral” rating for the company in a report on Friday, August 9th. Raymond James downgraded PubMatic from an “outperform” rating to a “market perform” rating in a research note on Friday, August 9th. B. Riley lowered their target price on PubMatic from $31.00 to $22.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Jefferies Financial Group cut their price target on shares of PubMatic from $26.00 to $16.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Finally, Royal Bank of Canada decreased their price objective on shares of PubMatic from $26.00 to $23.00 and set an “outperform” rating for the company in a report on Tuesday, August 20th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $21.00.

PubMatic Stock Performance

Shares of PUBM opened at $15.29 on Friday. PubMatic, Inc. has a fifty-two week low of $10.92 and a fifty-two week high of $25.36. The business has a 50-day moving average of $14.75 and a 200 day moving average of $19.31. The firm has a market cap of $763.44 million, a P/E ratio of 72.81 and a beta of 1.39.

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

Insiders Place Their Bets

In related news, CFO Steven Pantelick sold 12,831 shares of the business’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $14.31, for a total transaction of $183,611.61. Following the sale, the chief financial officer now directly owns 22,506 shares in the company, valued at approximately $322,060.86. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Chairman Amar K. Goel sold 3,889 shares of the business’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $14.31, for a total transaction of $55,651.59. Following the completion of the transaction, the chairman now directly owns 7,935 shares in the company, valued at $113,549.85. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Steven Pantelick sold 12,831 shares of the stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $14.31, for a total value of $183,611.61. Following the completion of the sale, the chief financial officer now owns 22,506 shares in the company, valued at $322,060.86. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 110,896 shares of company stock worth $1,731,463 over the last 90 days. 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.