Magnetar Financial LLC Buys Shares of 17,392 PubMatic, Inc. (NASDAQ:PUBM)

Magnetar Financial LLC bought a new stake in shares of PubMatic, Inc. (NASDAQ:PUBM) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 17,392 shares of the company’s stock, valued at approximately $353,000.

A number of other institutional investors and hedge funds also recently modified their holdings of PUBM. Dimensional Fund Advisors LP increased its stake in shares of PubMatic by 17.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,555,199 shares of the company’s stock valued at $25,366,000 after acquiring an additional 228,190 shares during the last quarter. Principal Financial Group Inc. increased 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 acquiring an additional 4,810 shares during the last quarter. Wellington Management Group LLP increased its stake 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 valued at $5,275,000 after acquiring an additional 17,497 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of PubMatic in the 1st quarter valued at about $1,412,000. Finally, Counterpoint Mutual Funds LLC bought a new stake in shares of PubMatic in the 1st quarter valued at about $685,000. 64.26% of the stock is owned by institutional investors.

PubMatic Stock Up 0.9 %

NASDAQ:PUBM opened at $14.40 on Wednesday. PubMatic, Inc. has a twelve month low of $10.92 and a twelve month high of $25.36. The business has a 50 day moving average price of $16.87 and a two-hundred day moving average price of $20.30. The company has a market cap of $713.95 million, a P/E ratio of 68.57 and a beta of 1.40.

PubMatic (NASDAQ:PUBM) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.06. The company had revenue of $67.27 million during 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 revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.11) EPS. As a group, analysts anticipate that PubMatic, Inc. will post 0.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on PUBM shares. Wolfe Research assumed coverage on PubMatic in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $25.00 price target for the company. Macquarie lowered their target price on PubMatic from $24.00 to $19.00 and set a “neutral” rating for the company in a research note on Friday, August 9th. Royal Bank of Canada lowered their target price on PubMatic from $26.00 to $23.00 and set an “outperform” rating for the company in a research note on Tuesday, August 20th. Jefferies Financial Group lowered their target price on PubMatic from $26.00 to $16.00 and set a “hold” rating for the company in a research note on Friday, August 9th. Finally, B. Riley lowered their target price on PubMatic from $31.00 to $22.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $21.00.

Insider Buying and Selling at PubMatic

In other PubMatic news, Chairman Amar K. Goel sold 3,755 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $20.64, for a total transaction of $77,503.20. Following the completion of the sale, the chairman now owns 5,242 shares of the company’s stock, valued at approximately $108,194.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other PubMatic news, Chairman Amar K. Goel sold 3,755 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $20.64, for a total transaction of $77,503.20. Following the completion of the sale, the chairman now owns 5,242 shares of the company’s stock, valued at approximately $108,194.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Rajeev K. Goel sold 25,000 shares of the firm’s 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 sale, the chief executive officer now directly owns 22,711 shares of the company’s stock, valued at approximately $456,036.88. The disclosure for this sale can be found here. Insiders sold 119,062 shares of company stock valued at $2,182,046 in the last quarter. 2.90% of the stock is currently owned by insiders.

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.