PubMatic, Inc. (NASDAQ:PUBM) Shares Sold by Dana Investment Advisors Inc.

Dana Investment Advisors Inc. reduced its stake in shares of PubMatic, Inc. (NASDAQ:PUBM) by 4.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 81,533 shares of the company’s stock after selling 3,722 shares during the period. Dana Investment Advisors Inc.’s holdings in PubMatic were worth $1,198,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new position in PubMatic in the fourth quarter valued at approximately $27,000. New York State Teachers Retirement System acquired a new position in PubMatic in the third quarter valued at approximately $51,000. FMR LLC lifted its holdings in PubMatic by 201.6% in the third quarter. FMR LLC now owns 4,053 shares of the company’s stock valued at $60,000 after acquiring an additional 2,709 shares during the last quarter. CWA Asset Management Group LLC acquired a new position in PubMatic in the third quarter valued at approximately $161,000. Finally, Intech Investment Management LLC acquired a new position in PubMatic in the third quarter valued at approximately $170,000. 64.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have issued reports on PUBM. Lake Street Capital cut their target price on PubMatic from $24.00 to $21.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Scotiabank cut their target price on PubMatic from $17.00 to $15.00 and set a “sector perform” rating on the stock in a research report on Friday, February 28th. Royal Bank of Canada cut their target price on PubMatic from $21.00 to $19.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. JMP Securities reissued a “market outperform” rating and issued a $20.00 target price on shares of PubMatic in a research report on Monday, January 27th. Finally, Evercore ISI boosted their target price on PubMatic from $20.00 to $22.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.89.

PubMatic Trading Down 2.3 %

PubMatic stock opened at $9.77 on Friday. PubMatic, Inc. has a twelve month low of $9.69 and a twelve month high of $25.36. The stock’s fifty day simple moving average is $14.51 and its 200-day simple moving average is $15.03. The firm has a market capitalization of $466.68 million, a P/E ratio of 31.52 and a beta of 1.48.

PubMatic (NASDAQ:PUBM) last posted its quarterly earnings data on Thursday, February 27th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.11). PubMatic had a return on equity of 6.12% and a net margin of 5.96%. The company had revenue of $85.50 million for the quarter, compared to analysts’ expectations of $88.24 million. Sell-side analysts predict that PubMatic, Inc. will post 0.22 earnings per share for the current year.

Insider Activity at PubMatic

In related news, Chairman Amar K. Goel sold 4,087 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $14.84, for a total value of $60,651.08. Following the transaction, the chairman now owns 14,044 shares of the company’s stock, valued at $208,412.96. This represents a 22.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Mukul Kumar sold 7,000 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $16.52, for a total value of $115,640.00. Following the completion of the transaction, the insider now directly owns 44,888 shares in the company, valued at $741,549.76. This trade represents a 13.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 101,811 shares of company stock valued at $1,554,021 over the last quarter. 2.90% of the stock is owned by insiders.

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.