PubMatic, Inc. $PUBM Stake Boosted by Avestar Capital LLC

Avestar Capital LLC boosted its holdings in PubMatic, Inc. (NASDAQ:PUBM) by 250.3% during the third quarter, Holdings Channel.com reports. The fund owned 192,688 shares of the company’s stock after buying an additional 137,688 shares during the quarter. Avestar Capital LLC’s holdings in PubMatic were worth $3,609,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Renaissance Technologies LLC boosted its position in shares of PubMatic by 26.3% during 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 last quarter. Pinnacle Holdings LLC bought a new position in shares of PubMatic in the second quarter worth approximately $2,076,000. Quantinno Capital Management LP increased its position in shares of PubMatic by 248.0% in the first quarter. Quantinno Capital Management LP now owns 206,815 shares of the company’s stock worth $1,692,000 after purchasing an additional 147,386 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of PubMatic in the first quarter worth approximately $1,687,000. Finally, Bank of New York Mellon Corp purchased a new stake in PubMatic in the second quarter valued at approximately $1,595,000. Hedge funds and other institutional investors own 64.26% of the company’s stock.

PubMatic Trading Down 6.6%

PUBM opened at $15.89 on Friday. PubMatic, Inc. has a 12 month low of $6.15 and a 12 month high of $19.48. The business’s 50-day moving average price is $17.38 and its 200-day moving average price is $12.09. The company has a market cap of $723.79 million, a P/E ratio of -52.96 and a beta of 1.56.

PubMatic (NASDAQ:PUBM) last issued its earnings results on Thursday, August 6th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.15. The company had revenue of $78.59 million during the quarter, compared to analysts’ expectations of $68.95 million. PubMatic had a negative return on equity of 5.41% and a negative net margin of 4.66%. Equities research analysts forecast that PubMatic, Inc. will post -0.09 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Rosenblatt Securities boosted their price target on shares of PubMatic from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Citizens Jmp raised their price objective on shares of PubMatic from $12.00 to $20.00 and gave the company a “market outperform” rating in a research report on Friday, August 7th. Wall Street Zen cut PubMatic from a “buy” rating to a “hold” rating in a research note on Saturday, October 24th. B. Riley Financial upped their price objective on PubMatic from $17.00 to $21.00 and gave the stock a “buy” rating in a report on Friday, September 18th. Finally, Citigroup reiterated an “outperform” rating on shares of PubMatic in a report on Friday, August 7th. Eleven research 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. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $19.73.

Insider Buying and Selling

In other PubMatic news, CEO Rajeev K. Goel sold 211,302 shares of the business’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $17.74, for a total value of $3,748,497.48. Following the transaction, the chief executive officer owned 31,692 shares in the company, valued at approximately $562,216.08. The trade was a 86.96% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Andrew Woods sold 38,331 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $17.96, for a total value of $688,424.76. Following the completion of the sale, the general counsel owned 39,761 shares of the company’s stock, valued at approximately $714,107.56. This trade represents a 49.08% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 610,951 shares of company stock valued at $10,910,572 over the last three months. 27.78% of the stock is owned by company insiders.

About PubMatic

PubMatic, Inc is a cloud infrastructure and digital advertising technology company that provides solutions for the programmatic advertising industry. Its platform helps publishers, app developers and content creators manage and monetize advertising inventory across websites, mobile applications, connected television and other digital channels.

The company operates primarily as a sell-side platform, connecting publishers with advertisers, agencies and demand-side platforms. Its offerings include tools for real-time bidding, yield management, audience targeting, identity solutions, supply-path optimization and header bidding.