PubMatic, Inc. (NASDAQ:PUBM) Short Interest Up 34.9% in March

PubMatic, Inc. (NASDAQ:PUBM) was the recipient of a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 1,470,000 shares, a growth of 34.9% from the February 28th total of 1,090,000 shares. Based on an average daily trading volume, of 457,400 shares, the short-interest ratio is presently 3.2 days. Approximately 3.2% of the shares of the company are short sold.

Insider Transactions at PubMatic

In other PubMatic news, Chairman Amar K. Goel sold 4,087 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $14.84, for a total value of $60,651.08. Following the transaction, the chairman now owns 14,044 shares of the company’s stock, valued at approximately $208,412.96. The trade was a 22.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Rajeev K. Goel sold 24,891 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $15.14, for a total value of $376,849.74. Following the completion of the transaction, the chief executive officer now owns 5,896 shares of the company’s stock, valued at $89,265.44. This trade represents a 80.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 94,811 shares of company stock worth $1,438,381 in the last 90 days. Insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On PubMatic

A number of hedge funds have recently made changes to their positions in PUBM. Dimensional Fund Advisors LP grew its stake in shares of PubMatic by 5.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,533,718 shares of the company’s stock valued at $22,531,000 after buying an additional 84,317 shares during the last quarter. Geode Capital Management LLC boosted its holdings in PubMatic by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 961,155 shares of the company’s stock valued at $14,295,000 after acquiring an additional 7,225 shares during the period. Wellington Management Group LLP grew its position in PubMatic by 19.4% during the 4th quarter. Wellington Management Group LLP now owns 897,970 shares of the company’s stock worth $13,191,000 after acquiring an additional 145,641 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its stake in PubMatic by 1.0% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 683,064 shares of the company’s stock worth $10,034,000 after purchasing an additional 6,600 shares during the period. Finally, Nixon Capital LLC lifted its position in PubMatic by 1.4% in the fourth quarter. Nixon Capital LLC now owns 578,259 shares of the company’s stock valued at $8,518,000 after purchasing an additional 7,966 shares during the last quarter. 64.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

PubMatic Stock Down 1.1 %

NASDAQ:PUBM traded down $0.10 during midday trading on Wednesday, hitting $9.19. The company had a trading volume of 18,853 shares, compared to its average volume of 441,345. The company has a market capitalization of $445.91 million, a PE ratio of 29.68 and a beta of 1.48. PubMatic has a 52-week low of $8.90 and a 52-week high of $25.36. The stock’s fifty day moving average price is $12.82 and its 200-day moving average price is $14.39.

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

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.