KLP Kapitalforvaltning AS Invests $106,000 in PubMatic, Inc. (NASDAQ:PUBM)

KLP Kapitalforvaltning AS acquired a new stake in shares of PubMatic, Inc. (NASDAQ:PUBM) in the fourth quarter, HoldingsChannel reports. The firm acquired 7,200 shares of the company’s stock, valued at approximately $106,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of PUBM. SBI Securities Co. Ltd. bought a new position in shares of PubMatic in the fourth quarter worth about $27,000. Wellington Management Group LLP boosted its position in PubMatic by 222.8% in the 3rd quarter. Wellington Management Group LLP now owns 752,329 shares of the company’s stock valued at $11,187,000 after buying an additional 519,275 shares during the period. Nordea Investment Management AB grew its stake in PubMatic by 377.4% in the 4th quarter. Nordea Investment Management AB now owns 340,544 shares of the company’s stock worth $5,101,000 after acquiring an additional 269,217 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of PubMatic by 239.3% during the third quarter. JPMorgan Chase & Co. now owns 62,349 shares of the company’s stock worth $927,000 after acquiring an additional 43,971 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of PubMatic by 122.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 434,867 shares of the company’s stock worth $6,466,000 after acquiring an additional 239,406 shares during the period. Hedge funds and other institutional investors own 64.26% of the company’s stock.

Analyst Upgrades and Downgrades

PUBM has been the topic of several research reports. Lake Street Capital reduced their price objective on PubMatic from $24.00 to $21.00 and set a “buy” rating on the stock in a report on Friday, February 28th. JMP Securities restated a “market outperform” rating and issued a $20.00 price objective on shares of PubMatic in a report on Monday, January 27th. Scotiabank dropped their target price on shares of PubMatic from $17.00 to $15.00 and set a “sector perform” rating on the stock in a report on Friday, February 28th. Finally, Royal Bank of Canada reduced their price target on shares of PubMatic from $21.00 to $19.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $19.89.

Insider Activity

In other PubMatic news, insider Mukul Kumar sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $16.51, for a total transaction of $115,570.00. Following the sale, the insider now owns 52,005 shares of the company’s stock, valued at approximately $858,602.55. The trade was a 11.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Amar K. Goel sold 4,446 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $9.31, for a total transaction of $41,392.26. Following the completion of the transaction, the chairman now directly owns 18,401 shares of the company’s stock, valued at approximately $171,313.31. This represents a 19.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 87,210 shares of company stock worth $1,028,124 over the last 90 days. 2.90% of the stock is currently owned by corporate insiders.

PubMatic Stock Down 7.7 %

NASDAQ:PUBM opened at $8.29 on Friday. The firm has a 50 day moving average of $11.61 and a 200 day moving average of $14.01. PubMatic, Inc. has a 52 week low of $7.46 and a 52 week high of $25.36. The stock has a market capitalization of $402.29 million, a price-to-earnings ratio of 26.74 and a beta of 1.50.

PubMatic (NASDAQ:PUBM) last announced its earnings results on Thursday, February 27th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.11). PubMatic had a return on equity of 6.12% and a net margin of 5.96%. The business had revenue of $85.50 million for the quarter, compared to analysts’ expectations of $88.24 million. As a group, analysts expect that PubMatic, Inc. will post 0.22 EPS for the current year.

PubMatic Company 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.