Renaissance Technologies LLC Sells 30,100 Shares of PubMatic, Inc. (NASDAQ:PUBM)

Renaissance Technologies LLC reduced its stake in PubMatic, Inc. (NASDAQ:PUBM) by 2.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,063,500 shares of the company’s stock after selling 30,100 shares during the quarter. Renaissance Technologies LLC owned approximately 2.23% of PubMatic worth $15,623,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of PUBM. Russell Investments Group Ltd. lifted its position in shares of PubMatic by 5.7% during the fourth quarter. Russell Investments Group Ltd. now owns 47,062 shares of the company’s stock valued at $691,000 after purchasing an additional 2,528 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of PubMatic by 12.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 50,903 shares of the company’s stock worth $748,000 after buying an additional 5,835 shares in the last quarter. Pitcairn Co. boosted its stake in shares of PubMatic by 7.3% in the 4th quarter. Pitcairn Co. now owns 21,654 shares of the company’s stock worth $318,000 after buying an additional 1,477 shares during the last quarter. Trexquant Investment LP grew its holdings in shares of PubMatic by 51.2% in the fourth quarter. Trexquant Investment LP now owns 124,390 shares of the company’s stock valued at $1,827,000 after acquiring an additional 42,121 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in shares of PubMatic by 19.4% during the fourth quarter. Wellington Management Group LLP now owns 897,970 shares of the company’s stock valued at $13,191,000 after acquiring an additional 145,641 shares during the last quarter. 64.26% of the stock is currently owned by institutional investors.

Insider Transactions at PubMatic

In related news, CFO Steven Pantelick sold 4,000 shares of PubMatic stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $15.14, for a total transaction of $60,560.00. Following the completion of the sale, the chief financial officer now owns 22,506 shares of the company’s stock, valued at approximately $340,740.84. This trade represents a 15.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Amar K. Goel sold 4,446 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $9.31, for a total value of $41,392.26. Following the completion of the transaction, the chairman now owns 18,401 shares in the company, valued at $171,313.31. This represents a 19.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 87,210 shares of company stock valued at $1,028,124. 2.90% of the stock is currently owned by corporate insiders.

PubMatic Trading Down 1.2 %

PUBM opened at $8.38 on Tuesday. The company has a 50 day moving average of $11.32 and a 200 day moving average of $13.92. PubMatic, Inc. has a 12 month low of $7.46 and a 12 month high of $25.36. The company has a market cap of $406.66 million, a PE ratio of 27.03 and a beta of 1.50.

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

Analyst Ratings Changes

PUBM has been the subject of a number of recent analyst reports. Royal Bank of Canada reduced their price objective on PubMatic from $21.00 to $19.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Scotiabank reduced their price target on shares of PubMatic from $17.00 to $15.00 and set a “sector perform” rating for the company in a research report on Friday, February 28th. Lake Street Capital lowered their price objective on shares of PubMatic from $24.00 to $21.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Finally, JMP Securities reissued a “market outperform” rating and set a $20.00 target price on shares of PubMatic in a research report on Monday, January 27th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $19.89.

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.