PubMatic, Inc. (NASDAQ:PUBM) Holdings Lifted by Principal Financial Group Inc.

Principal Financial Group Inc. raised its position in PubMatic, Inc. (NASDAQ:PUBM) by 9.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,178 shares of the company’s stock after purchasing an additional 2,234 shares during the quarter. Principal Financial Group Inc. owned about 0.05% of PubMatic worth $370,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. New York State Teachers Retirement System acquired a new stake in PubMatic in the 3rd quarter valued at approximately $51,000. FMR LLC grew its stake in shares of PubMatic by 201.6% in the third quarter. FMR LLC now owns 4,053 shares of the company’s stock worth $60,000 after purchasing an additional 2,709 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of PubMatic by 1,387.1% during the third quarter. International Assets Investment Management LLC now owns 5,205 shares of the company’s stock valued at $77,000 after purchasing an additional 4,855 shares during the period. CWA Asset Management Group LLC acquired a new position in shares of PubMatic during the third quarter valued at $161,000. Finally, Intech Investment Management LLC bought a new stake in shares of PubMatic during the third quarter valued at about $170,000. Institutional investors own 64.26% of the company’s stock.

PubMatic Trading Down 2.3 %

NASDAQ:PUBM opened at $9.77 on Friday. PubMatic, Inc. has a 1-year low of $9.69 and a 1-year high of $25.36. The firm has a market capitalization of $466.68 million, a price-to-earnings ratio of 31.52 and a beta of 1.48. The business’s fifty day moving average price is $14.62 and its 200 day moving average price is $15.06.

PubMatic (NASDAQ:PUBM) last posted its quarterly earnings results on Thursday, February 27th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.11). PubMatic had a return on equity of 6.12% and a net margin of 5.96%. The company had revenue of $85.50 million during the quarter, compared to analysts’ expectations of $88.24 million. Equities analysts forecast that PubMatic, Inc. will post 0.22 earnings per share for the current year.

Insider Buying and Selling at PubMatic

In other PubMatic news, General Counsel Andrew Woods sold 3,529 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $14.84, for a total transaction of $52,370.36. Following the transaction, the general counsel now owns 34,702 shares in the company, valued at $514,977.68. This trade represents a 9.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Mukul Kumar sold 7,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $16.52, for a total value of $115,640.00. Following the completion of the sale, the insider now directly owns 44,888 shares in the company, valued at approximately $741,549.76. This represents a 13.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 101,811 shares of company stock worth $1,554,021 over the last 90 days. 2.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

PUBM has been the subject of a number of recent analyst reports. Lake Street Capital decreased their target price on shares of PubMatic from $24.00 to $21.00 and set a “buy” rating for the company in a research report on Friday, February 28th. JMP Securities reiterated a “market outperform” rating and issued a $20.00 price objective on shares of PubMatic in a report on Monday, January 27th. Scotiabank dropped their target price on PubMatic from $17.00 to $15.00 and set a “sector perform” rating on the stock in a report on Friday, February 28th. Macquarie reissued a “neutral” rating and issued a $19.00 price target on shares of PubMatic in a report on Thursday, November 14th. Finally, Evercore ISI raised their price objective on PubMatic from $20.00 to $22.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $19.89.

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.