Cantor Fitzgerald L. P. Decreases Stake in PubMatic, Inc. (NASDAQ:PUBM)

Cantor Fitzgerald L. P. cut its stake in shares of PubMatic, Inc. (NASDAQ:PUBMFree Report) by 70.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 28,048 shares of the company’s stock after selling 67,670 shares during the period. Cantor Fitzgerald L. P.’s holdings in PubMatic were worth $457,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP acquired a new position in PubMatic during the 3rd quarter worth approximately $3,701,000. Panagora Asset Management Inc. lifted its position in PubMatic by 139.3% during the 4th quarter. Panagora Asset Management Inc. now owns 150,219 shares of the company’s stock worth $2,450,000 after acquiring an additional 87,435 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in PubMatic by 8.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 436,130 shares of the company’s stock worth $7,113,000 after acquiring an additional 35,286 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in PubMatic during the 4th quarter worth approximately $469,000. Finally, Versor Investments LP raised its position in shares of PubMatic by 16.0% in the 4th quarter. Versor Investments LP now owns 22,247 shares of the company’s stock valued at $363,000 after purchasing an additional 3,073 shares in the last quarter. 64.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PUBM has been the topic of a number of recent analyst reports. JMP Securities upped their target price on PubMatic from $18.00 to $25.00 and gave the company a “market outperform” rating in a research report on Tuesday, February 27th. B. Riley initiated 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. Finally, Royal Bank of Canada upped their target price on PubMatic from $26.00 to $30.00 and gave the company an “outperform” rating in a research report on Wednesday, May 8th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $23.00.

View Our Latest Analysis on PubMatic

PubMatic Stock Up 0.8 %

NASDAQ PUBM traded up $0.18 during trading hours on Wednesday, hitting $21.66. The company had a trading volume of 352,400 shares, compared to its average volume of 459,096. PubMatic, Inc. has a fifty-two week low of $10.92 and a fifty-two week high of $25.36. The business has a fifty day simple moving average of $22.69 and a 200-day simple moving average of $19.55. The firm has a market cap of $1.08 billion, a P/E ratio of 103.15 and a beta of 1.48.

PubMatic (NASDAQ:PUBMGet Free Report) last issued its earnings results on Tuesday, May 7th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.07. PubMatic had a return on equity of 4.21% and a net margin of 4.42%. The firm had revenue of $66.70 million for the quarter, compared to analyst estimates of $62.19 million. During the same period last year, the company earned ($0.09) earnings per share. The firm’s revenue for the quarter was up 20.4% on a year-over-year basis. Equities analysts forecast that PubMatic, Inc. will post 0.24 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, General Counsel Andrew Woods sold 3,220 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $23.16, for a total transaction of $74,575.20. Following the transaction, the general counsel now directly owns 21,153 shares of the company’s stock, valued at $489,903.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Rajeev K. Goel sold 25,978 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $23.16, for a total transaction of $601,650.48. Following the transaction, the chief executive officer now directly owns 22,712 shares of the company’s stock, valued at $526,009.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Andrew Woods sold 3,220 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $23.16, for a total value of $74,575.20. Following the transaction, the general counsel now directly owns 21,153 shares in the company, valued at $489,903.48. The disclosure for this sale can be found here. Insiders have sold 93,624 shares of company stock valued at $2,122,984 over the last three months. Company insiders own 2.90% of the company’s stock.

PubMatic Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding PUBM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PubMatic, Inc. (NASDAQ:PUBMFree Report).

Institutional Ownership by Quarter for PubMatic (NASDAQ:PUBM)

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