PubMatic, Inc. (NASDAQ:PUBM) Shares Sold by Mesirow Financial Investment Management Inc.

Mesirow Financial Investment Management Inc. lowered its holdings in PubMatic, Inc. (NASDAQ:PUBM) by 21.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,689 shares of the company’s stock after selling 2,637 shares during the quarter. Mesirow Financial Investment Management Inc.’s holdings in PubMatic were worth $230,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP purchased a new position in shares of PubMatic during the third quarter worth $3,701,000. Dimensional Fund Advisors LP boosted 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 valued at $25,366,000 after acquiring an additional 228,190 shares during the period. Panagora Asset Management Inc. grew its position in PubMatic by 139.3% in the 4th quarter. Panagora Asset Management Inc. now owns 150,219 shares of the company’s stock valued at $2,450,000 after acquiring an additional 87,435 shares in the last quarter. Los Angeles Capital Management LLC purchased a new stake in PubMatic during the first quarter worth about $1,412,000. Finally, EFG Asset Management North America Corp. acquired a new stake in shares of PubMatic during the fourth quarter worth about $673,000. Hedge funds and other institutional investors own 64.26% of the company’s stock.

PubMatic Stock Performance

Shares of NASDAQ:PUBM traded up $0.23 during trading hours on Wednesday, reaching $20.67. The stock had a trading volume of 222,352 shares, compared to its average volume of 464,326. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of 97.34 and a beta of 1.44. The firm’s 50 day moving average is $22.03 and its 200-day moving average is $19.89. PubMatic, Inc. has a 1 year low of $10.92 and a 1 year high of $25.36.

PubMatic (NASDAQ:PUBM) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.07. The company had revenue of $66.70 million for the quarter, compared to analysts’ expectations of $62.19 million. PubMatic had a return on equity of 4.21% and a net margin of 4.42%. PubMatic’s quarterly revenue was up 20.4% on a year-over-year basis. During the same period last year, the firm earned ($0.09) earnings per share. Analysts forecast that PubMatic, Inc. will post 0.24 EPS for the current year.

Wall Street Analyst Weigh In

PUBM has been the subject of a number of research reports. B. Riley began coverage on shares of PubMatic in a report on Friday, April 19th. They issued a “buy” rating and a $27.00 price objective for the company. Royal Bank of Canada boosted their price target on shares of PubMatic from $26.00 to $30.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 8th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, PubMatic currently has an average rating of “Moderate Buy” and a consensus target price of $23.00.

Insider Activity at PubMatic

In other PubMatic news, CFO Steven Pantelick sold 8,876 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $23.71, for a total transaction of $210,449.96. Following the sale, the chief financial officer now owns 16,833 shares of the company’s stock, valued at $399,110.43. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other PubMatic news, CFO Steven Pantelick sold 8,876 shares of the firm’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $23.71, for a total transaction of $210,449.96. Following the transaction, the chief financial officer now owns 16,833 shares of the company’s stock, valued at $399,110.43. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Mukul Kumar sold 9,496 shares of the business’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $21.08, for a total value of $200,175.68. Following the completion of the sale, the insider now directly owns 30,958 shares of the company’s stock, valued at $652,594.64. The disclosure for this sale can be found here. Insiders sold 74,504 shares of company stock valued at $1,652,330 over the last three months. 2.90% of the stock is owned by corporate insiders.

PubMatic 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.