PubMatic, Inc. (NASDAQ:PUBM) Shares Bought by Merit Financial Group LLC

Merit Financial Group LLC grew its holdings in shares of PubMatic, Inc. (NASDAQ:PUBM) by 9.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 175,896 shares of the company’s stock after purchasing an additional 14,703 shares during the period. Merit Financial Group LLC owned approximately 0.35% of PubMatic worth $2,869,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Arizona State Retirement System lifted its holdings in PubMatic by 9.0% in the 4th quarter. Arizona State Retirement System now owns 11,924 shares of the company’s stock valued at $194,000 after acquiring an additional 984 shares during the last quarter. Guinness Atkinson Asset Management Inc boosted its stake in shares of PubMatic by 48.6% during the 3rd quarter. Guinness Atkinson Asset Management Inc now owns 3,032 shares of the company’s stock worth $37,000 after acquiring an additional 992 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of PubMatic by 0.9% in the third quarter. Bank of New York Mellon Corp now owns 174,092 shares of the company’s stock valued at $2,107,000 after purchasing an additional 1,489 shares during the period. Zions Bancorporation N.A. lifted its position in PubMatic by 4.0% during the 3rd quarter. Zions Bancorporation N.A. now owns 53,540 shares of the company’s stock worth $648,000 after acquiring an additional 2,076 shares during the last quarter. Finally, Versor Investments LP boosted its stake in PubMatic by 14.0% during the 3rd quarter. Versor Investments LP now owns 19,174 shares of the company’s stock valued at $232,000 after purchasing an additional 2,360 shares during the period. 64.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

PubMatic Price Performance

Shares of PUBM traded up $0.32 during trading hours on Friday, hitting $23.43. The stock had a trading volume of 294,654 shares, compared to its average volume of 294,133. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of 156.21 and a beta of 1.52. The company’s fifty day moving average is $22.39 and its two-hundred day moving average is $17.72. PubMatic, Inc. has a 52 week low of $10.92 and a 52 week high of $24.18.

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

Insider Activity

In other PubMatic news, insider Paulina Klimenko sold 2,083 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $17.00, for a total value of $35,411.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Paulina Klimenko sold 2,083 shares of PubMatic stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $17.00, for a total transaction of $35,411.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Rajeev K. Goel sold 98,600 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $20.70, for a total transaction of $2,041,020.00. Following the completion of the transaction, the chief executive officer now owns 7,500 shares in the company, valued at $155,250. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 192,063 shares of company stock worth $4,110,143. 2.90% of the stock is owned by corporate 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.