PubMatic, Inc. $PUBM Stock: CenterBook Partners LP Reduces Holdings

CenterBook Partners LP reduced its position in PubMatic, Inc. (NASDAQ:PUBM) by 52.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 198,203 shares of the company’s stock after selling 215,780 shares during the quarter. CenterBook Partners LP’s holdings in PubMatic were worth $3,712,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of PUBM. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of PubMatic during the third quarter worth $39,000. Versant Capital Management Inc raised its position in shares of PubMatic by 30.4% in the 2nd quarter. Versant Capital Management Inc now owns 10,657 shares of the company’s stock worth $140,000 after acquiring an additional 2,482 shares in the last quarter. WINTON GROUP Ltd raised its position in shares of PubMatic by 28.0% in the 2nd quarter. WINTON GROUP Ltd now owns 16,900 shares of the company’s stock worth $222,000 after acquiring an additional 3,700 shares in the last quarter. Hsbc Holdings PLC raised its position in shares of PubMatic by 12.2% in the 4th quarter. Hsbc Holdings PLC now owns 64,590 shares of the company’s stock worth $573,000 after acquiring an additional 7,034 shares in the last quarter. Finally, State of Wyoming acquired a new position in shares of PubMatic in the 1st quarter valued at about $61,000. 64.26% of the stock is owned by institutional investors.

PubMatic Stock Performance

Shares of PubMatic stock opened at $17.81 on Friday. PubMatic, Inc. has a 52 week low of $6.15 and a 52 week high of $19.48. The stock has a 50 day moving average price of $17.39 and a two-hundred day moving average price of $12.30. The stock has a market capitalization of $811.25 million, a PE ratio of -59.36 and a beta of 1.59.

PubMatic (NASDAQ:PUBM) last issued its earnings results on Thursday, August 6th. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $68.95 million. Research analysts forecast that PubMatic, Inc. will post -0.09 EPS for the current year.

Insider Transactions at PubMatic

In related news, CEO Rajeev Goel sold 50,453 shares of PubMatic stock in a transaction on Thursday, September 24th. The shares were sold at an average price of $18.45, for a total value of $930,857.85. Following the completion of the sale, the chief executive officer owned 50,453 shares of the company’s stock, valued at approximately $930,857.85. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Steven Pantelick sold 23,491 shares of the business’s stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $18.97, for a total transaction of $445,624.27. Following the sale, the chief financial officer owned 32,526 shares of the company’s stock, valued at $617,018.22. This trade represents a 41.94% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 400,149 shares of company stock valued at $7,170,140 in the last 90 days. 27.78% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on PUBM. Craig Hallum began coverage on PubMatic in a research report on Thursday, September 24th. They set a “buy” rating and a $24.00 target price on the stock. Rosenblatt Securities lifted their target price on PubMatic from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, August 7th. B. Riley Financial boosted their price target on PubMatic from $17.00 to $21.00 and gave the company a “buy” rating in a research note on Friday, September 18th. Jefferies Financial Group increased their price target on PubMatic from $10.00 to $18.00 and gave the stock a “hold” rating in a report on Tuesday, August 11th. Finally, Wall Street Zen downgraded shares of PubMatic from a “buy” rating to a “hold” rating in a research report on Saturday, October 24th. Eleven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $19.73.

PubMatic Profile

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.