Fox Run Management L.L.C. Buys Shares of 27,307 PubMatic, Inc. (NASDAQ:PUBM)

Fox Run Management L.L.C. purchased a new position in PubMatic, Inc. (NASDAQ:PUBM) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 27,307 shares of the company’s stock, valued at approximately $401,000. Fox Run Management L.L.C. owned about 0.06% of PubMatic as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Victory Capital Management Inc. lifted its stake in PubMatic by 99.2% in the third quarter. Victory Capital Management Inc. now owns 72,083 shares of the company’s stock valued at $1,072,000 after buying an additional 35,898 shares during the period. Intech Investment Management LLC bought a new stake in shares of PubMatic in the 3rd quarter valued at about $170,000. Charles Schwab Investment Management Inc. raised its position in shares of PubMatic by 122.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 434,867 shares of the company’s stock valued at $6,466,000 after acquiring an additional 239,406 shares during the period. Pitcairn Co. boosted its stake in PubMatic by 45.6% during the 3rd quarter. Pitcairn Co. now owns 20,177 shares of the company’s stock worth $300,000 after acquiring an additional 6,322 shares during the last quarter. Finally, FMR LLC grew its holdings in PubMatic by 201.6% during the third quarter. FMR LLC now owns 4,053 shares of the company’s stock valued at $60,000 after purchasing an additional 2,709 shares during the period. 64.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity at PubMatic

In related news, General Counsel Andrew Woods sold 3,529 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $14.84, for a total transaction of $52,370.36. Following the sale, the general counsel now owns 34,702 shares in the company, valued at approximately $514,977.68. This represents a 9.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Mukul Kumar sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $16.51, for a total value of $115,570.00. Following the completion of the transaction, the insider now owns 52,005 shares of the company’s stock, valued at approximately $858,602.55. This represents a 11.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 94,811 shares of company stock valued at $1,438,381. Corporate insiders own 2.90% of the company’s stock.

Analyst Upgrades and Downgrades

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

PubMatic Stock Performance

NASDAQ:PUBM opened at $10.11 on Thursday. The stock has a 50-day simple moving average of $13.23 and a 200 day simple moving average of $14.52. PubMatic, Inc. has a 52-week low of $9.07 and a 52-week high of $25.36. The company has a market cap of $490.61 million, a PE ratio of 32.61 and a beta of 1.48.

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

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.