Panagora Asset Management Inc. Buys 14,907 Shares of PubMatic, Inc. (NASDAQ:PUBM)

Panagora Asset Management Inc. lifted its position in PubMatic, Inc. (NASDAQ:PUBM) by 7.0% during the 2nd quarter, HoldingsChannel reports. The firm owned 227,948 shares of the company’s stock after acquiring an additional 14,907 shares during the quarter. Panagora Asset Management Inc.’s holdings in PubMatic were worth $4,630,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its position in shares of PubMatic by 17.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,555,199 shares of the company’s stock valued at $25,366,000 after buying an additional 228,190 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its position in PubMatic by 92.5% during the first quarter. Jacobs Levy Equity Management Inc. now owns 440,127 shares of the company’s stock valued at $10,440,000 after purchasing an additional 211,520 shares during the period. Hillsdale Investment Management Inc. bought a new stake in shares of PubMatic in the 1st quarter valued at approximately $4,711,000. Russell Investments Group Ltd. boosted its holdings in shares of PubMatic by 1,073.9% in the 1st quarter. Russell Investments Group Ltd. now owns 126,037 shares of the company’s stock worth $2,990,000 after purchasing an additional 115,300 shares during the period. Finally, Los Angeles Capital Management LLC bought a new position in shares of PubMatic during the 1st quarter valued at approximately $1,412,000. 64.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Rajeev K. Goel sold 25,000 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $21.28, for a total transaction of $532,000.00. Following the transaction, the chief executive officer now directly owns 9,000 shares in the company, valued at $191,520. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other PubMatic news, insider Mukul Kumar sold 9,496 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $21.08, for a total value of $200,175.68. Following the completion of the sale, the insider now directly owns 30,958 shares in the company, valued at $652,594.64. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Rajeev K. Goel sold 25,000 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $21.28, for a total value of $532,000.00. Following the completion of the sale, the chief executive officer now directly owns 9,000 shares of the company’s stock, valued at approximately $191,520. The disclosure for this sale can be found here. Insiders sold a total of 121,848 shares of company stock valued at $2,430,669 over the last three months. 2.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Raymond James downgraded PubMatic from an “outperform” rating to a “market perform” rating in a research report on Friday, August 9th. B. Riley dropped their price target on shares of PubMatic from $31.00 to $22.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Wolfe Research began coverage on shares of PubMatic in a research report on Tuesday, July 16th. They issued an “outperform” rating and a $25.00 price objective on the stock. Macquarie dropped their target price on PubMatic from $24.00 to $19.00 and set a “neutral” rating for the company in a research report on Friday, August 9th. Finally, Jefferies Financial Group reduced their price target on PubMatic from $26.00 to $16.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, PubMatic has a consensus rating of “Moderate Buy” and a consensus target price of $21.00.

PubMatic Trading Up 0.9 %

Shares of PubMatic stock traded up $0.14 on Friday, hitting $15.60. 396,796 shares of the company traded hands, compared to its average volume of 497,170. The company has a market cap of $778.92 million, a PE ratio of 74.29 and a beta of 1.44. The stock’s 50 day moving average price is $18.88 and its 200-day moving average price is $20.72. PubMatic, Inc. has a 52 week low of $10.92 and a 52 week high of $25.36.

PubMatic (NASDAQ:PUBM) last issued its earnings results on Thursday, August 8th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.06. PubMatic had a return on equity of 6.92% and a net margin of 7.08%. The business had revenue of $67.27 million during the quarter, compared to analyst estimates of $70.07 million. During the same period in the previous year, the company posted ($0.11) EPS. PubMatic’s revenue was up 6.2% on a year-over-year basis. As a group, research analysts anticipate that PubMatic, Inc. will post 0.24 EPS for the current fiscal 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.