Redwood Wealth Management Group LLC Acquires New Position in PubMatic, Inc. (NASDAQ:PUBM)

Redwood Wealth Management Group LLC bought a new position in shares of PubMatic, Inc. (NASDAQ:PUBM) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,410 shares of the company’s stock, valued at approximately $29,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Headlands Technologies LLC purchased a new position in PubMatic in the second quarter valued at $38,000. SG Americas Securities LLC acquired a new position in shares of PubMatic during the first quarter worth about $107,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of PubMatic by 56.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,132 shares of the company’s stock worth $185,000 after buying an additional 3,280 shares during the period. QRG Capital Management Inc. acquired a new stake in PubMatic in the fourth quarter valued at approximately $191,000. Finally, Cornerstone Investment Partners LLC purchased a new position in PubMatic in the first quarter worth approximately $222,000. Hedge funds and other institutional investors own 64.26% of the company’s stock.

PubMatic Stock Up 1.8 %

Shares of PUBM stock opened at $14.58 on Monday. The stock’s 50-day moving average price is $17.71 and its 200 day moving average price is $20.62. The stock has a market capitalization of $727.99 million, a PE ratio of 69.43 and a beta of 1.40. PubMatic, Inc. has a 52-week low of $10.92 and a 52-week high of $25.36.

PubMatic (NASDAQ:PUBM) last released its earnings results on Thursday, August 8th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.06. PubMatic had a return on equity of 6.92% and a net margin of 7.08%. The business had revenue of $67.27 million for the quarter, compared to analyst estimates of $70.07 million. During the same quarter in the previous year, the company posted ($0.11) earnings per share. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. Analysts expect that PubMatic, Inc. will post 0.2 earnings per share for the current fiscal year.

Insider Transactions at PubMatic

In related news, CEO Rajeev K. Goel sold 25,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $20.08, for a total value of $502,000.00. Following the completion of the sale, the chief executive officer now owns 22,711 shares in the company, valued at $456,036.88. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other PubMatic news, CFO Steven Pantelick sold 7,846 shares of the stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $20.64, for a total value of $161,941.44. Following the completion of the transaction, the chief financial officer now owns 22,506 shares in the company, valued at $464,523.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Rajeev K. Goel sold 25,000 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $20.08, for a total value of $502,000.00. Following the completion of the sale, the chief executive officer now directly owns 22,711 shares of the company’s stock, valued at approximately $456,036.88. The disclosure for this sale can be found here. Insiders have sold a total of 119,062 shares of company stock worth $2,182,046 over the last ninety days. 2.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Macquarie dropped their target price on PubMatic from $24.00 to $19.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. Wolfe Research began coverage on PubMatic in a report on Tuesday, July 16th. They issued an “outperform” rating and a $25.00 price target for the company. B. Riley cut their price objective on shares of PubMatic from $31.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Raymond James cut shares of PubMatic from an “outperform” rating to a “market perform” rating in a report on Friday, August 9th. Finally, 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 note on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, PubMatic has an average rating of “Moderate Buy” and an average target price of $21.00.

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.