SVB Wealth LLC Takes Position in PubMatic, Inc. (NASDAQ:PUBM)

SVB Wealth LLC bought a new position in PubMatic, Inc. (NASDAQ:PUBM) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 10,000 shares of the company’s stock, valued at approximately $163,000.

A number of other hedge funds also recently made changes to their positions in PUBM. Wellington Management Group LLP purchased a new stake in shares of PubMatic in the third quarter worth about $3,701,000. Aptus Capital Advisors LLC purchased a new stake in shares of PubMatic in the third quarter worth about $1,350,000. Algert Global LLC purchased a new stake in shares of PubMatic in the third quarter worth about $486,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of PubMatic by 8.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 436,130 shares of the company’s stock worth $7,113,000 after buying an additional 35,286 shares in the last quarter. Finally, Jump Financial LLC purchased a new stake in shares of PubMatic in the third quarter worth about $362,000. 64.26% of the stock is currently owned by hedge funds and other institutional investors.

PubMatic Price Performance

PubMatic stock opened at $22.84 on Wednesday. PubMatic, Inc. has a 1-year low of $10.92 and a 1-year high of $24.18. The firm has a market capitalization of $1.14 billion, a P/E ratio of 152.28 and a beta of 1.52. The company’s 50-day moving average is $21.33 and its 200 day moving average is $17.19.

PubMatic (NASDAQ:PUBM) last posted its quarterly earnings data on Monday, February 26th. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.15. PubMatic had a net margin of 3.33% and a return on equity of 3.29%. The company had revenue of $84.60 million for the quarter, compared to analyst estimates of $78.19 million. During the same period in the prior year, the company posted $0.24 EPS. The firm’s revenue for the quarter was up 13.9% on a year-over-year basis. Research analysts anticipate that PubMatic, Inc. will post 0.18 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PUBM. B. Riley assumed coverage on PubMatic in a research report on Friday, April 19th. They issued a “buy” rating and a $27.00 target price on the stock. JMP Securities lifted their target price on PubMatic from $18.00 to $25.00 and gave the stock a “market outperform” rating in a report on Tuesday, February 27th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $26.00 price target on shares of PubMatic in a report on Monday, March 25th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, PubMatic presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.20.

Insider Buying and Selling

In related news, CEO Rajeev K. Goel sold 98,600 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $20.70, for a total value of $2,041,020.00. Following the sale, the chief executive officer now directly owns 7,500 shares of the company’s stock, valued at approximately $155,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other PubMatic news, CEO Rajeev K. Goel sold 98,600 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $20.70, for a total value of $2,041,020.00. Following the transaction, the chief executive officer now directly owns 7,500 shares in the company, valued at approximately $155,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paulina Klimenko sold 24,275 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $20.27, for a total transaction of $492,054.25. The disclosure for this sale can be found here. Insiders have sold 184,563 shares of company stock valued at $3,940,568 in the last ninety days. 2.00% of the stock is owned by company 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.