Royal Bank of Canada Lowers Stock Position in PubMatic, Inc. $PUBM

Royal Bank of Canada cut its stake in shares of PubMatic, Inc. (NASDAQ:PUBM) by 14.2% in the first quarter, Holdings Channel.com reports. The fund owned 740,281 shares of the company’s stock after selling 122,907 shares during the period. Royal Bank of Canada’s holdings in PubMatic were worth $6,055,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Renaissance Technologies LLC raised its stake in shares of PubMatic by 26.3% in the 1st quarter. Renaissance Technologies LLC now owns 1,540,533 shares of the company’s stock valued at $12,602,000 after acquiring an additional 321,200 shares during the period. Wellington Management Group LLP boosted its position in shares of PubMatic by 10.1% during the 3rd quarter. Wellington Management Group LLP now owns 1,468,503 shares of the company’s stock worth $12,159,000 after purchasing an additional 135,070 shares during the period. CenterBook Partners LP increased its holdings in PubMatic by 53.3% in the 4th quarter. CenterBook Partners LP now owns 1,147,055 shares of the company’s stock valued at $10,174,000 after purchasing an additional 398,595 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in PubMatic by 9.1% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 929,249 shares of the company’s stock valued at $8,242,000 after purchasing an additional 77,566 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in PubMatic by 320.0% in the 4th quarter. Millennium Management LLC now owns 918,127 shares of the company’s stock valued at $8,144,000 after purchasing an additional 699,549 shares during the last quarter. 64.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Steven Pantelick sold 23,548 shares of the business’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $13.65, for a total transaction of $321,430.20. Following the completion of the transaction, the chief financial officer directly owned 64,820 shares of the company’s stock, valued at approximately $884,793. The trade was a 26.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Andrew Woods sold 38,331 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $17.96, for a total transaction of $688,424.76. Following the sale, the general counsel owned 39,761 shares in the company, valued at $714,107.56. The trade was a 49.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 573,917 shares of company stock worth $8,431,616. 27.78% of the stock is currently owned by company insiders.

Key PubMatic News

Here are the key news stories impacting PubMatic this week:

• Positive Sentiment: PubMatic appointed Megan Ramm as Global Chief Revenue Officer to accelerate growth as artificial intelligence reshapes digital advertising. The hire could support expansion across mobile, connected TV and other high-growth advertising channels. PubMatic Appoints Megan Ramm as Global Chief Revenue Officer
• Positive Sentiment: Analysts raised their price targets to $20 and $23, while other firms reiterated bullish ratings or increased targets to $20-$21. The consensus rating is “Moderate Buy,” with ten analysts rating the stock Buy and one assigning a Sell rating. PubMatic Price Target Raised to $20.00 PubMatic Price Target Raised to $23.00
• Positive Sentiment: PubMatic’s latest quarter exceeded expectations: revenue reached $78.59 million versus a $68.95 million consensus estimate, while the loss of $0.03 per share was narrower than the expected $0.18 loss. Revenue grew 10.5% year over year, profitability improved through stronger mobile-app and CTV mix, and free cash flow increased 47% year over year. The company also has approximately $120 million in cash and no long-term debt.
• Neutral Sentiment: Reported short interest was listed at zero shares with a zero-day days-to-cover ratio. Because the data also showed an invalid percentage change, it provides little actionable information about short-seller positioning.
• Negative Sentiment: General Counsel Andrew Woods sold 38,331 shares for approximately $688,425, reducing his direct holdings by 49.08%. The transaction was made under a pre-arranged Rule 10b5-1 plan, which reduces its significance as a discretionary bearish signal, but insider selling can still weigh on sentiment. PubMatic General Counsel Insider Sale
• Negative Sentiment: One analyst commentary acknowledged the strong turnaround and balance sheet but said it was not buying after the recent rally, highlighting valuation and execution risks. PubMatic remains unprofitable, with analysts expecting a full-year loss.

Analysts Set New Price Targets

PUBM has been the topic of a number of research reports. Evercore restated an “outperform” rating and set a $21.00 price target on shares of PubMatic in a research note on Monday. Citizens Jmp lifted their price objective on PubMatic from $12.00 to $20.00 and gave the company a “market outperform” rating in a research note on Friday, August 7th. Jefferies Financial Group boosted their price objective on PubMatic from $10.00 to $18.00 and gave the company a “hold” rating in a report on Tuesday. Rosenblatt Securities lifted their target price on PubMatic from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Finally, Scotiabank upgraded shares of PubMatic from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the stock from $8.00 to $21.00 in a research note on Friday. Ten investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $18.25.

PubMatic Trading Down 0.6%

NASDAQ:PUBM opened at $17.65 on Wednesday. The firm has a market cap of $819.67 million, a PE ratio of -58.83 and a beta of 1.54. The stock has a fifty day moving average price of $12.87 and a 200 day moving average price of $10.08. PubMatic, Inc. has a 12-month low of $6.15 and a 12-month high of $18.44.

PubMatic (NASDAQ:PUBM) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.15. PubMatic had a negative return on equity of 5.41% and a negative net margin of 4.66%.The company had revenue of $78.59 million for the quarter, compared to the consensus estimate of $68.95 million. Equities analysts forecast that PubMatic, Inc. will post -0.26 EPS for the current year.

PubMatic Profile

PubMatic is a cloud-based digital advertising technology company that provides a supply-side platform (SSP) enabling publishers to automate and optimize the sale of their ad inventory across display, mobile, video and connected TV channels. Its core offerings include real-time bidding infrastructure, header bidding solutions under the OpenWrap brand and data analytics tools that deliver actionable insights on audience engagement and monetization performance. By facilitating seamless auctions and providing transparent reporting, PubMatic helps publishers maximize yield while improving buyer experiences.

Founded in 2006 by Rajeev Goel and a team of ad-tech veterans, PubMatic grew from an early entrant in programmatic selling to a publicly traded company, listing on the Nasdaq (symbol: PUBM) in December 2020.