Charles Schwab Investment Management Inc. Sells 49,779 Shares of PubMatic, Inc. (NASDAQ:PUBM)

Charles Schwab Investment Management Inc. trimmed its stake in PubMatic, Inc. (NASDAQ:PUBM) by 11.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 385,088 shares of the company’s stock after selling 49,779 shares during the period. Charles Schwab Investment Management Inc. owned 0.81% of PubMatic worth $5,657,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Victory Capital Management Inc. grew its stake in PubMatic by 99.2% in the third quarter. Victory Capital Management Inc. now owns 72,083 shares of the company’s stock valued at $1,072,000 after purchasing an additional 35,898 shares during the last quarter. Intech Investment Management LLC purchased a new position in shares of PubMatic in the 3rd quarter worth approximately $170,000. Pitcairn Co. raised its stake in shares of PubMatic by 45.6% during the 3rd quarter. Pitcairn Co. now owns 20,177 shares of the company’s stock worth $300,000 after acquiring an additional 6,322 shares in the last quarter. FMR LLC lifted its position in PubMatic by 201.6% during the third quarter. FMR LLC now owns 4,053 shares of the company’s stock valued at $60,000 after acquiring an additional 2,709 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in PubMatic by 37.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,593 shares of the company’s stock valued at $187,000 after acquiring an additional 3,461 shares in the last quarter. 64.26% of the stock is currently owned by hedge funds and other institutional investors.

PubMatic Price Performance

Shares of PubMatic stock opened at $9.90 on Tuesday. The stock has a market cap of $480.42 million, a PE ratio of 31.94 and a beta of 1.48. The firm has a fifty day moving average price of $13.39 and a 200 day moving average price of $14.58. PubMatic, Inc. has a 1 year low of $9.07 and a 1 year high of $25.36.

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

Analyst Upgrades and Downgrades

PUBM has been the topic of a number of recent analyst reports. Scotiabank reduced their price target on PubMatic from $17.00 to $15.00 and set a “sector perform” rating on the stock in a research report on Friday, February 28th. Royal Bank of Canada reduced their target price on PubMatic from $21.00 to $19.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Lake Street Capital lowered their price target on PubMatic from $24.00 to $21.00 and set a “buy” rating for the company in a report on Friday, February 28th. Finally, JMP Securities restated a “market outperform” rating and set a $20.00 price objective on shares of PubMatic in a report on Monday, January 27th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $19.89.

Insiders Place Their Bets

In other PubMatic news, CEO Rajeev K. Goel sold 24,891 shares of PubMatic stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $15.14, for a total value of $376,849.74. Following the completion of the transaction, the chief executive officer now owns 5,896 shares of the company’s stock, valued at approximately $89,265.44. The trade was a 80.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Amar K. Goel sold 4,087 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $14.84, for a total transaction of $60,651.08. Following the sale, the chairman now directly owns 14,044 shares in the company, valued at approximately $208,412.96. The trade was a 22.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 94,811 shares of company stock worth $1,438,381. 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.