Dynamic Technology Lab Private Ltd Sells 2,557 Shares of PubMatic, Inc. (NASDAQ:PUBM)

Dynamic Technology Lab Private Ltd reduced its position in shares of PubMatic, Inc. (NASDAQ:PUBM) by 15.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 14,491 shares of the company’s stock after selling 2,557 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in PubMatic were worth $213,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in shares of PubMatic by 0.8% in the third quarter. Geode Capital Management LLC now owns 961,155 shares of the company’s stock valued at $14,295,000 after acquiring an additional 7,225 shares during the period. Wellington Management Group LLP grew its stake in shares of PubMatic by 19.4% in the fourth quarter. Wellington Management Group LLP now owns 897,970 shares of the company’s stock worth $13,191,000 after purchasing an additional 145,641 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of PubMatic by 377.4% in the fourth quarter. Nordea Investment Management AB now owns 340,544 shares of the company’s stock worth $5,101,000 after purchasing an additional 269,217 shares during the last quarter. Avestar Capital LLC purchased a new position in PubMatic during the 4th quarter valued at about $4,701,000. Finally, American Century Companies Inc. raised its position in PubMatic by 0.9% during the 4th quarter. American Century Companies Inc. now owns 271,864 shares of the company’s stock valued at $3,994,000 after purchasing an additional 2,461 shares during the last quarter. 64.26% of the stock is currently owned by institutional investors.

PubMatic Price Performance

NASDAQ:PUBM opened at $8.48 on Friday. The firm has a market capitalization of $411.51 million, a P/E ratio of 27.35 and a beta of 1.50. PubMatic, Inc. has a one year low of $7.46 and a one year high of $25.36. The company’s 50-day simple moving average is $11.46 and its 200 day simple moving average is $13.97.

PubMatic (NASDAQ:PUBM) last issued its quarterly earnings results on Thursday, February 27th. The company reported $0.26 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 the consensus estimate of $88.24 million. On average, equities research analysts expect that PubMatic, Inc. will post 0.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on PUBM shares. JMP Securities reiterated a “market outperform” rating and issued a $20.00 price objective on shares of PubMatic in a research report on Monday, January 27th. Royal Bank of Canada reduced their price objective 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. Lake Street Capital dropped 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. Finally, Scotiabank reduced their price target on shares of PubMatic from $17.00 to $15.00 and set a “sector perform” rating on the stock in a research report on Friday, February 28th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $19.89.

Insider Activity at PubMatic

In related news, CFO Steven Pantelick sold 4,000 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $15.14, for a total transaction of $60,560.00. Following the completion of the sale, the chief financial officer now owns 22,506 shares in the company, valued at approximately $340,740.84. This represents a 15.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Amar K. Goel sold 4,446 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $9.31, for a total value of $41,392.26. Following the completion of the transaction, the chairman now directly owns 18,401 shares in the company, valued at $171,313.31. The trade was a 19.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 87,210 shares of company stock valued at $1,028,124 over the last 90 days. 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.