Magnetar Financial LLC Takes Position in PubMatic, Inc. (NASDAQ:PUBM)

Magnetar Financial LLC purchased a new stake in shares of PubMatic, Inc. (NASDAQ:PUBM) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 28,736 shares of the company’s stock, valued at approximately $422,000. Magnetar Financial LLC owned approximately 0.06% of PubMatic at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. SBI Securities Co. Ltd. purchased a new position in shares of PubMatic during the fourth quarter valued at $27,000. Principal Financial Group Inc. grew its holdings in shares of PubMatic by 9.7% during the fourth quarter. Principal Financial Group Inc. now owns 25,178 shares of the company’s stock valued at $370,000 after buying an additional 2,234 shares in the last quarter. FMR LLC grew its holdings in shares of 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 buying an additional 2,709 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of PubMatic by 37.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,593 shares of the company’s stock valued at $187,000 after buying an additional 3,461 shares in the last quarter. Finally, Pitcairn Co. grew its holdings in shares of PubMatic by 45.6% during the third quarter. Pitcairn Co. now owns 20,177 shares of the company’s stock valued at $300,000 after buying an additional 6,322 shares in the last quarter. Hedge funds and other institutional investors own 64.26% of the company’s stock.

Insider Buying and Selling

In related news, insider Mukul Kumar sold 4,480 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $14.84, for a total transaction of $66,483.20. Following the completion of the transaction, the insider now owns 52,005 shares of the company’s stock, valued at approximately $771,754.20. The trade was a 7.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Andrew Woods sold 3,529 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $14.84, for a total value of $52,370.36. Following the transaction, the general counsel now directly owns 34,702 shares of the company’s stock, valued at $514,977.68. This represents a 9.23 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 94,811 shares of company stock valued at $1,438,381. Insiders own 2.90% of the company’s stock.

PubMatic Price Performance

Shares of NASDAQ:PUBM opened at $9.75 on Friday. PubMatic, Inc. has a fifty-two week low of $9.07 and a fifty-two week high of $25.36. The business has a 50-day moving average of $13.47 and a two-hundred day moving average of $14.62. The stock has a market capitalization of $473.14 million, a P/E ratio of 31.45 and a beta of 1.48.

PubMatic (NASDAQ:PUBM) last announced its quarterly 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). 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 analyst estimates of $88.24 million. As a group, research analysts expect that PubMatic, Inc. will post 0.22 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.