Price T Rowe Associates Inc. MD Has $530,000 Stock Holdings in PubMatic, Inc. (NASDAQ:PUBM)

Price T Rowe Associates Inc. MD increased its holdings in shares of PubMatic, Inc. (NASDAQ:PUBM) by 7.5% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 22,311 shares of the company’s stock after purchasing an additional 1,561 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in PubMatic were worth $530,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of PUBM. Vanguard Group Inc. increased its position in shares of PubMatic by 0.5% during the first quarter. Vanguard Group Inc. now owns 4,254,391 shares of the company’s stock worth $100,914,000 after acquiring an additional 22,713 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in PubMatic by 17.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,555,199 shares of the company’s stock worth $25,366,000 after purchasing an additional 228,190 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of PubMatic by 5.7% in the 4th quarter. Wellington Management Group LLP now owns 323,397 shares of the company’s stock valued at $5,275,000 after purchasing an additional 17,497 shares during the period. Hillsdale Investment Management Inc. bought a new stake in shares of PubMatic in the first quarter valued at about $4,711,000. Finally, Merit Financial Group LLC boosted its position in shares of PubMatic by 9.1% during the fourth quarter. Merit Financial Group LLC now owns 175,896 shares of the company’s stock worth $2,869,000 after buying an additional 14,703 shares during the period. 64.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other PubMatic news, Chairman Amar K. Goel sold 2,000 shares of PubMatic stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $24.50, for a total transaction of $49,000.00. Following the completion of the transaction, the chairman now directly owns 2,640 shares of the company’s stock, valued at $64,680. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Rajeev K. Goel sold 25,000 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $21.28, for a total transaction of $532,000.00. Following the transaction, the chief executive officer now owns 9,000 shares in the company, valued at $191,520. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Amar K. Goel sold 2,000 shares of PubMatic stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $24.50, for a total value of $49,000.00. Following the sale, the chairman now directly owns 2,640 shares of the company’s stock, valued at $64,680. The disclosure for this sale can be found here. In the last three months, insiders have sold 117,324 shares of company stock valued at $2,394,449. 2.90% of the stock is owned by insiders.

PubMatic Price Performance

Shares of PUBM opened at $14.14 on Wednesday. The company has a market cap of $706.01 million, a PE ratio of 67.34 and a beta of 1.44. The firm has a 50-day moving average of $20.35 and a 200-day moving average of $20.84. PubMatic, Inc. has a one year low of $10.92 and a one year high of $25.36.

PubMatic (NASDAQ:PUBM) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.06. The business had revenue of $67.27 million during the quarter, compared to analysts’ expectations of $70.07 million. PubMatic had a return on equity of 4.21% and a net margin of 4.42%. PubMatic’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter last year, the company posted ($0.11) earnings per share. Analysts expect that PubMatic, Inc. will post 0.24 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Wolfe Research assumed coverage on PubMatic in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $25.00 target price on the stock. Raymond James lowered shares of PubMatic from an “outperform” rating to a “market perform” rating in a research report on Friday, August 9th. Royal Bank of Canada decreased their target price on shares of PubMatic from $30.00 to $26.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Jefferies Financial Group cut their price target on shares of PubMatic from $26.00 to $16.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. Finally, B. Riley reduced their price objective on shares of PubMatic from $31.00 to $22.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $21.43.

About PubMatic

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.