PubMatic, Inc. (NASDAQ:PUBM) Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP cut its holdings in shares of PubMatic, Inc. (NASDAQ:PUBM) by 9.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,415,621 shares of the company’s stock after selling 146,937 shares during the period. Dimensional Fund Advisors LP’s holdings in PubMatic were worth $28,750,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Redwood Wealth Management Group LLC purchased a new stake in shares of PubMatic during the second quarter valued at $29,000. Headlands Technologies LLC purchased a new stake in shares of PubMatic during the second quarter valued at $38,000. SG Americas Securities LLC purchased a new stake in shares of PubMatic during the first quarter valued at $107,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of PubMatic by 56.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,132 shares of the company’s stock valued at $185,000 after buying an additional 3,280 shares during the last quarter. Finally, Cornerstone Investment Partners LLC purchased a new stake in shares of PubMatic during the first quarter valued at $222,000. 64.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

PubMatic Stock Up 0.2 %

PUBM stock opened at $14.43 on Thursday. The company’s 50-day simple moving average is $16.02 and its 200-day simple moving average is $19.99. PubMatic, Inc. has a 52-week low of $10.92 and a 52-week high of $25.36. The firm has a market cap of $715.44 million, a P/E ratio of 68.72 and a beta of 1.40.

PubMatic (NASDAQ:PUBM) last posted its earnings results 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 net margin of 7.08% and a return on equity of 6.92%. The business had revenue of $67.27 million for the quarter, compared to analyst estimates of $70.07 million. During the same period in the prior year, the company posted ($0.11) EPS. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. On average, analysts anticipate that PubMatic, Inc. will post 0.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, General Counsel Andrew Woods sold 2,710 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $15.30, for a total transaction of $41,463.00. Following the completion of the transaction, the general counsel now owns 26,739 shares in the company, valued at approximately $409,106.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, General Counsel Andrew Woods sold 2,710 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $15.30, for a total transaction of $41,463.00. Following the completion of the transaction, the general counsel now owns 26,739 shares in the company, valued at approximately $409,106.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Lisa Gimbel sold 2,397 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $13.66, for a total transaction of $32,743.02. Following the completion of the sale, the chief accounting officer now owns 3,956 shares of the company’s stock, valued at approximately $54,038.96. The disclosure for this sale can be found here. Insiders sold a total of 79,052 shares of company stock worth $1,360,569 in the last 90 days. Insiders own 2.90% of the company’s stock.

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.