Headlands Technologies LLC Takes $69,000 Position in PubMatic, Inc. (NASDAQ:PUBM)

Headlands Technologies LLC acquired a new stake in shares of PubMatic, Inc. (NASDAQ:PUBM) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 7,565 shares of the company’s stock, valued at approximately $69,000.

A number of other large investors have also made changes to their positions in the stock. Rhumbline Advisers raised its position in shares of PubMatic by 2.3% during the first quarter. Rhumbline Advisers now owns 60,012 shares of the company’s stock valued at $548,000 after buying an additional 1,341 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in PubMatic in the fourth quarter worth about $29,000. Tower Research Capital LLC TRC raised its position in PubMatic by 75.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,220 shares of the company’s stock worth $77,000 after purchasing an additional 2,240 shares in the last quarter. Russell Investments Group Ltd. raised its position in PubMatic by 5.7% in the fourth quarter. Russell Investments Group Ltd. now owns 47,062 shares of the company’s stock worth $691,000 after purchasing an additional 2,528 shares in the last quarter. Finally, US Bancorp DE raised its position in PubMatic by 21.3% in the first quarter. US Bancorp DE now owns 14,736 shares of the company’s stock worth $135,000 after purchasing an additional 2,591 shares in the last quarter. Institutional investors and hedge funds own 64.26% of the company’s stock.

PubMatic Trading Down 21.1%

NASDAQ PUBM opened at $8.34 on Wednesday. The firm has a market cap of $404.74 million, a price-to-earnings ratio of -119.13 and a beta of 1.54. The company has a 50 day moving average of $11.92 and a 200-day moving average of $11.57. PubMatic, Inc. has a 1-year low of $7.01 and a 1-year high of $17.74.

PubMatic (NASDAQ:PUBM) last posted its quarterly earnings data on Monday, August 11th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.13). The firm had revenue of $71.10 million for the quarter, compared to analyst estimates of $67.77 million. PubMatic had a negative return on equity of 0.63% and a negative net margin of 0.58%. The business’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.04 EPS. On average, analysts forecast that PubMatic, Inc. will post 0.22 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PUBM. B. Riley lowered shares of PubMatic from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $17.00 to $9.00 in a research report on Tuesday. Lake Street Capital reissued a “hold” rating and issued a $9.50 price target (down previously from $19.00) on shares of PubMatic in a research report on Tuesday. Royal Bank Of Canada reissued an “outperform” rating and issued a $11.00 price target (down previously from $14.00) on shares of PubMatic in a research report on Tuesday. Finally, Scotiabank dropped their price target on shares of PubMatic from $15.00 to $10.00 and set a “sector perform” rating for the company in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $14.36.

Insiders Place Their Bets

In related news, CFO Steven Pantelick sold 15,690 shares of the firm’s stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $12.82, for a total value of $201,145.80. Following the completion of the sale, the chief financial officer owned 30,702 shares of the company’s stock, valued at $393,599.64. This trade represents a 33.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Andrew Woods sold 4,084 shares of the firm’s stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $12.56, for a total transaction of $51,295.04. Following the completion of the sale, the general counsel directly owned 44,130 shares of the company’s stock, valued at approximately $554,272.80. This represents a 8.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 285,294 shares of company stock valued at $3,449,506 over the last quarter. Company insiders own 26.42% of the company’s stock.

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.