Olympiad Research LP Buys New Holdings in PubMatic, Inc. (NASDAQ:PUBM)

Olympiad Research LP purchased a new stake in shares of PubMatic, Inc. (NASDAQ:PUBM) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 19,718 shares of the company’s stock, valued at approximately $293,000.

Several other institutional investors have also added to or reduced their stakes in the company. US Bancorp DE grew its holdings in PubMatic by 370.1% during the 3rd quarter. US Bancorp DE now owns 12,433 shares of the company’s stock valued at $185,000 after buying an additional 9,788 shares in the last quarter. New York State Teachers Retirement System purchased a new position in PubMatic during the 3rd quarter valued at approximately $51,000. BayBridge Capital Group LLC purchased a new position in PubMatic during the 3rd quarter valued at approximately $387,000. International Assets Investment Management LLC grew its holdings in PubMatic by 1,387.1% during the 3rd quarter. International Assets Investment Management LLC now owns 5,205 shares of the company’s stock valued at $77,000 after buying an additional 4,855 shares in the last quarter. Finally, Inspire Investing LLC grew its holdings in PubMatic by 57.6% during the 3rd quarter. Inspire Investing LLC now owns 27,659 shares of the company’s stock valued at $411,000 after buying an additional 10,109 shares in the last quarter. Hedge funds and other institutional investors own 64.26% of the company’s stock.

PubMatic Stock Up 1.5 %

PUBM opened at $16.08 on Friday. The business has a fifty day moving average of $14.81 and a 200 day moving average of $18.58. PubMatic, Inc. has a 52-week low of $11.94 and a 52-week high of $25.36. The stock has a market cap of $797.31 million, a P/E ratio of 44.67 and a beta of 1.39.

PubMatic (NASDAQ:PUBM) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.04 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $70.07 million. During the same quarter in the prior year, the company earned ($0.11) EPS. The business’s revenue was up 6.2% compared to the same quarter last year. Equities analysts anticipate that PubMatic, Inc. will post 0.2 EPS for the current fiscal year.

Analysts Set New Price Targets

PUBM has been the subject of a number of recent research reports. Macquarie dropped their target price on PubMatic from $24.00 to $19.00 and set a “neutral” rating for the company in a report on Friday, August 9th. Jefferies Financial Group dropped their target price on PubMatic from $26.00 to $16.00 and set a “hold” rating for the company in a report on Friday, August 9th. Raymond James cut PubMatic from an “outperform” rating to a “market perform” rating in a report on Friday, August 9th. Royal Bank of Canada dropped their target price on PubMatic from $26.00 to $23.00 and set an “outperform” rating for the company in a report on Tuesday, August 20th. Finally, Wolfe Research began coverage on PubMatic in a report on Tuesday, July 16th. They issued an “outperform” rating and a $25.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, PubMatic currently has a consensus rating of “Moderate Buy” and an average price target of $21.00.

Insider Transactions at PubMatic

In other news, CEO Rajeev K. Goel sold 19,892 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $14.44, for a total transaction of $287,240.48. Following the transaction, the chief executive officer now owns 4,330 shares of the company’s stock, valued at approximately $62,525.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Rajeev K. Goel sold 19,892 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $14.44, for a total transaction of $287,240.48. Following the completion of the sale, the chief executive officer now directly owns 4,330 shares in the company, valued at $62,525.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Steven Pantelick sold 4,000 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $14.03, for a total value of $56,120.00. Following the sale, the chief financial officer now owns 22,506 shares of the company’s stock, valued at $315,759.18. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 109,788 shares of company stock valued at $1,608,253. 2.90% of the stock is currently owned by corporate insiders.

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.