Leibman Financial Services Inc. Acquires 7,880 Shares of PubMatic, Inc. (NASDAQ:PUBM)

Leibman Financial Services Inc. grew its stake in PubMatic, Inc. (NASDAQ:PUBM) by 19.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 48,459 shares of the company’s stock after purchasing an additional 7,880 shares during the quarter. Leibman Financial Services Inc. owned about 0.10% of PubMatic worth $721,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Los Angeles Capital Management LLC acquired a new position in PubMatic in the first quarter valued at about $1,412,000. Inspire Investing LLC acquired a new stake in shares of PubMatic in the 1st quarter valued at approximately $1,249,000. Renaissance Technologies LLC raised its position in shares of PubMatic by 28.8% in the 2nd quarter. Renaissance Technologies LLC now owns 1,188,700 shares of the company’s stock valued at $24,142,000 after acquiring an additional 265,700 shares during the period. Russell Investments Group Ltd. boosted its stake in PubMatic by 1,073.9% during the 1st quarter. Russell Investments Group Ltd. now owns 126,037 shares of the company’s stock worth $2,990,000 after acquiring an additional 115,300 shares during the last quarter. Finally, Dana Investment Advisors Inc. acquired a new position in PubMatic during the second quarter valued at approximately $839,000. 64.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PUBM. Raymond James cut shares of PubMatic from an “outperform” rating to a “market perform” rating in a research report on Friday, August 9th. Wolfe Research initiated coverage on PubMatic in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $25.00 target price for the company. Royal Bank of Canada lowered their price target on PubMatic from $26.00 to $23.00 and set an “outperform” rating for the company in a report on Tuesday, August 20th. B. Riley cut their price objective on PubMatic from $31.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Finally, Macquarie decreased their price objective on PubMatic from $24.00 to $19.00 and set a “neutral” rating for the company in a research report on Friday, August 9th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $21.00.

Insider Buying and Selling at PubMatic

In other news, Chairman Amar K. Goel sold 3,889 shares of the stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $14.31, for a total transaction of $55,651.59. Following the completion of the transaction, the chairman now directly owns 7,935 shares in the company, valued at $113,549.85. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other PubMatic news, Chairman Amar K. Goel sold 3,889 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $14.31, for a total transaction of $55,651.59. Following the transaction, the chairman now owns 7,935 shares of the company’s stock, valued at $113,549.85. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Mukul Kumar sold 8,000 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $21.85, for a total value of $174,800.00. Following the completion of the sale, the insider now directly owns 37,784 shares of the company’s stock, valued at approximately $825,580.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 118,896 shares of company stock worth $1,906,263. Insiders own 2.90% of the company’s stock.

PubMatic Price Performance

PUBM stock opened at $14.78 on Wednesday. The stock has a market capitalization of $737.98 million, a P/E ratio of 70.38 and a beta of 1.39. PubMatic, Inc. has a fifty-two week low of $10.92 and a fifty-two week high of $25.36. The business has a 50-day moving average of $15.56 and a 200-day moving average of $19.78.

PubMatic (NASDAQ:PUBM) last released its earnings results on Thursday, August 8th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.06. PubMatic had a return on equity of 6.92% and a net margin of 7.08%. The firm had revenue of $67.27 million for the quarter, compared to analysts’ expectations of $70.07 million. During the same quarter in the previous year, the business posted ($0.11) EPS. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. Equities analysts expect that PubMatic, Inc. will post 0.2 EPS for the current year.

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.