SG Americas Securities LLC Purchases 15,273 Shares of PubMatic, Inc. (NASDAQ:PUBM)

SG Americas Securities LLC boosted its position in PubMatic, Inc. (NASDAQ:PUBM) by 170.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 24,223 shares of the company’s stock after acquiring an additional 15,273 shares during the period. SG Americas Securities LLC’s holdings in PubMatic were worth $360,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Dana Investment Advisors Inc. bought a new position in shares of PubMatic in the 2nd quarter worth $839,000. Truist Financial Corp acquired a new position in PubMatic during the second quarter worth $380,000. Algert Global LLC lifted its stake in shares of PubMatic by 19.0% in the second quarter. Algert Global LLC now owns 171,125 shares of the company’s stock valued at $3,476,000 after buying an additional 27,272 shares in the last quarter. Millennium Management LLC bought a new position in shares of PubMatic in the second quarter valued at $6,582,000. Finally, Cubist Systematic Strategies LLC grew its holdings in shares of PubMatic by 54.4% during the second quarter. Cubist Systematic Strategies LLC now owns 264,988 shares of the company’s stock valued at $5,382,000 after buying an additional 93,327 shares during the last quarter. Institutional investors and hedge funds own 64.26% of the company’s stock.

PubMatic Stock Down 0.1 %

PUBM opened at $15.29 on Friday. PubMatic, Inc. has a twelve month low of $10.92 and a twelve month high of $25.36. The company’s 50-day moving average price is $14.75 and its two-hundred day moving average price is $19.31. The stock has a market cap of $763.44 million, a price-to-earnings ratio of 72.81 and a beta of 1.39.

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

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on PUBM shares. Raymond James cut shares of PubMatic from an “outperform” rating to a “market perform” rating in a research report on Friday, August 9th. Jefferies Financial Group dropped their target price on PubMatic from $26.00 to $16.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Wolfe Research began coverage on PubMatic in a report on Tuesday, July 16th. They set an “outperform” rating and a $25.00 price target for the company. Macquarie dropped 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. Finally, B. Riley cut their price objective 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. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $21.00.

Insider Transactions at PubMatic

In related news, Chairman Amar K. Goel sold 3,889 shares of the business’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $14.31, for a total value of $55,651.59. Following the sale, the chairman now directly owns 7,935 shares in the company, valued at approximately $113,549.85. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Chairman Amar K. Goel sold 3,889 shares of the firm’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $14.31, for a total value of $55,651.59. Following the completion of the transaction, the chairman now directly owns 7,935 shares of the company’s stock, valued at $113,549.85. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Lisa Gimbel sold 2,397 shares of PubMatic stock in a transaction on Friday, August 16th. The shares were sold at an average price of $13.66, for a total value of $32,743.02. Following the completion of the transaction, the chief accounting officer now owns 3,956 shares of the company’s stock, valued at approximately $54,038.96. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 110,896 shares of company stock worth $1,731,463. 2.90% of the stock is owned by company 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.