EFG Asset Management North America Corp. Acquires 49,133 Shares of PubMatic, Inc. (NASDAQ:PUBM)

EFG Asset Management North America Corp. increased its stake in shares of PubMatic, Inc. (NASDAQ:PUBM) by 58.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 133,756 shares of the company’s stock after acquiring an additional 49,133 shares during the quarter. EFG Asset Management North America Corp. owned about 0.28% of PubMatic worth $1,964,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Geode Capital Management LLC increased its holdings in shares of PubMatic by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 961,155 shares of the company’s stock worth $14,295,000 after purchasing an additional 7,225 shares during the period. Wellington Management Group LLP grew its position in PubMatic by 222.8% during the third quarter. Wellington Management Group LLP now owns 752,329 shares of the company’s stock worth $11,187,000 after buying an additional 519,275 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in PubMatic by 17.4% during the third quarter. Jacobs Levy Equity Management Inc. now owns 676,464 shares of the company’s stock valued at $10,059,000 after acquiring an additional 100,479 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in PubMatic by 122.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 434,867 shares of the company’s stock valued at $6,466,000 after acquiring an additional 239,406 shares in the last quarter. Finally, Nordea Investment Management AB lifted its position in shares of PubMatic by 377.4% in the 4th quarter. Nordea Investment Management AB now owns 340,544 shares of the company’s stock worth $5,101,000 after acquiring an additional 269,217 shares during the period. 64.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at PubMatic

In other PubMatic news, CFO Steven Pantelick sold 10,040 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $14.84, for a total transaction of $148,993.60. Following the transaction, the chief financial officer now directly owns 38,285 shares in the company, valued at approximately $568,149.40. This represents a 20.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Amar K. Goel sold 4,087 shares of PubMatic 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 $60,651.08. Following the sale, the chairman now owns 14,044 shares of the company’s stock, valued at approximately $208,412.96. This represents a 22.54 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 94,811 shares of company stock worth $1,438,381. Corporate insiders own 2.90% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Scotiabank cut their target price on PubMatic from $17.00 to $15.00 and set a “sector perform” rating for the company in a research note on Friday, February 28th. Lake Street Capital reduced their price objective on shares of PubMatic from $24.00 to $21.00 and set a “buy” rating for the company in a report on Friday, February 28th. Royal Bank of Canada decreased their target price on shares of PubMatic from $21.00 to $19.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Finally, JMP Securities reissued a “market outperform” rating and issued a $20.00 price target on shares of PubMatic in a research 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.com, PubMatic currently has an average rating of “Moderate Buy” and a consensus price target of $19.89.

PubMatic Price Performance

NASDAQ PUBM opened at $10.45 on Wednesday. The stock’s 50 day simple moving average is $13.32 and its 200 day simple moving average is $14.55. PubMatic, Inc. has a one year low of $9.07 and a one year high of $25.36. The firm has a market cap of $507.11 million, a PE ratio of 33.71 and a beta of 1.48.

PubMatic (NASDAQ:PUBM) last announced its earnings results 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). The business had revenue of $85.50 million during the quarter, compared to analyst estimates of $88.24 million. PubMatic had a net margin of 5.96% and a return on equity of 6.12%. As a group, equities analysts expect that PubMatic, Inc. will post 0.22 earnings per share for the current year.

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.