US Bancorp DE Has $185,000 Position in PubMatic, Inc. (NASDAQ:PUBM)

US Bancorp DE lifted its stake in PubMatic, Inc. (NASDAQ:PUBM) by 370.1% during the third quarter, HoldingsChannel reports. The fund owned 12,433 shares of the company’s stock after purchasing an additional 9,788 shares during the quarter. US Bancorp DE’s holdings in PubMatic were worth $185,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of PUBM. Millennium Management LLC acquired a new stake in shares of PubMatic during the 2nd quarter valued at about $6,582,000. Acadian Asset Management LLC raised its position in PubMatic by 28,255.4% during the second quarter. Acadian Asset Management LLC now owns 291,493 shares of the company’s stock valued at $5,915,000 after acquiring an additional 290,465 shares in the last quarter. Renaissance Technologies LLC lifted its stake in PubMatic by 28.8% in the second quarter. Renaissance Technologies LLC now owns 1,188,700 shares of the company’s stock valued at $24,142,000 after acquiring an additional 265,700 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its stake in shares of PubMatic by 92.5% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 440,127 shares of the company’s stock worth $10,440,000 after purchasing an additional 211,520 shares during the last quarter. Finally, Hillsdale Investment Management Inc. bought a new stake in PubMatic in the first quarter worth $4,711,000. 64.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on PUBM shares. B. Riley cut their target price on PubMatic from $31.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Evercore ISI raised their price objective on PubMatic from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Wednesday. Jefferies Financial Group decreased their target price on PubMatic from $26.00 to $16.00 and set a “hold” rating for the company in a research report on Friday, August 9th. Macquarie reiterated a “neutral” rating and set a $19.00 price target on shares of PubMatic in a report on Thursday. Finally, Royal Bank of Canada cut their target price on shares of PubMatic from $26.00 to $23.00 and set an “outperform” rating for the company in a research report on Tuesday, August 20th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, PubMatic presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.71.

Insider Activity at PubMatic

In related news, General Counsel Andrew Woods sold 2,710 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $15.30, for a total transaction of $41,463.00. Following the completion of the transaction, the general counsel now owns 26,739 shares in the company, valued at $409,106.70. This trade represents a 9.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Steven Pantelick sold 4,000 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $14.45, for a total value of $57,800.00. Following the completion of the sale, the chief financial officer now directly owns 22,506 shares in the company, valued at approximately $325,211.70. This represents a 15.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 103,391 shares of company stock valued at $1,519,390 over the last quarter. 2.90% of the stock is owned by company insiders.

PubMatic Trading Down 3.9 %

PUBM opened at $15.63 on Friday. The stock’s 50 day simple moving average is $14.90 and its 200-day simple moving average is $18.34. The stock has a market cap of $774.94 million, a PE ratio of 51.03 and a beta of 1.39. PubMatic, Inc. has a 1 year low of $13.18 and a 1 year high of $25.36.

PubMatic (NASDAQ:PUBM) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.05. PubMatic had a net margin of 5.96% and a return on equity of 5.98%. The firm had revenue of $71.79 million for the quarter, compared to analyst estimates of $66.14 million. Equities analysts forecast that PubMatic, Inc. will post 0.2 earnings per share for the current fiscal 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.