PubMatic, Inc. $PUBM Shares Sold by Avestar Capital LLC

Avestar Capital LLC lessened its holdings in PubMatic, Inc. (NASDAQ:PUBM) by 46.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 150,000 shares of the company’s stock after selling 130,000 shares during the period. Avestar Capital LLC’s holdings in PubMatic were worth $1,330,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC lifted its stake in PubMatic by 264.8% in the second quarter. Tower Research Capital LLC TRC now owns 4,878 shares of the company’s stock valued at $61,000 after buying an additional 3,541 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of PubMatic by 120.8% during the third quarter. BNP Paribas Financial Markets now owns 8,875 shares of the company’s stock valued at $73,000 after purchasing an additional 4,856 shares during the period. M&T Bank Corp acquired a new position in shares of PubMatic during the fourth quarter valued at $91,000. Savant Capital LLC acquired a new stake in PubMatic in the fourth quarter worth about $110,000. Finally, Versor Investments LP acquired a new stake in PubMatic in the fourth quarter worth about $115,000. Institutional investors and hedge funds own 64.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Royal Bank Of Canada upped their price objective on shares of PubMatic from $11.00 to $13.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Lake Street Capital raised shares of PubMatic from a “hold” rating to a “strong-buy” rating in a report on Friday, February 27th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $21.00 price objective on shares of PubMatic in a report on Thursday, April 23rd. B. Riley Financial reaffirmed a “buy” rating on shares of PubMatic in a report on Friday, May 8th. Finally, Wall Street Zen raised shares of PubMatic from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, PubMatic presently has an average rating of “Moderate Buy” and an average target price of $12.88.

Insider Buying and Selling at PubMatic

In related news, Chairman Amar K. Goel sold 6,528 shares of the company’s stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $8.17, for a total transaction of $53,333.76. Following the transaction, the chairman directly owned 24,066 shares of the company’s stock, valued at approximately $196,619.22. The trade was a 21.34% 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, insider Mukul Kumar sold 8,000 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $11.96, for a total value of $95,680.00. Following the transaction, the insider directly owned 100,869 shares in the company, valued at $1,206,393.24. The trade was a 7.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 289,876 shares of company stock valued at $2,622,647 over the last 90 days. 27.78% of the stock is owned by insiders.

PubMatic Stock Up 4.4%

Shares of NASDAQ PUBM opened at $11.88 on Friday. PubMatic, Inc. has a 12 month low of $6.15 and a 12 month high of $13.88. The company has a market cap of $551.71 million, a price-to-earnings ratio of -31.26 and a beta of 1.57. The business has a fifty day simple moving average of $9.69 and a 200-day simple moving average of $8.68.

PubMatic (NASDAQ:PUBM) last announced its earnings results on Thursday, May 7th. The company reported ($0.27) EPS for the quarter, beating the consensus estimate of ($0.32) by $0.05. PubMatic had a negative return on equity of 6.98% and a negative net margin of 6.21%.The business had revenue of $62.57 million during the quarter, compared to the consensus estimate of $60.42 million. As a group, sell-side analysts expect that PubMatic, Inc. will post -0.25 EPS for the current fiscal year.

PubMatic Profile

PubMatic is a cloud-based digital advertising technology company that provides a supply-side platform (SSP) enabling publishers to automate and optimize the sale of their ad inventory across display, mobile, video and connected TV channels. Its core offerings include real-time bidding infrastructure, header bidding solutions under the OpenWrap brand and data analytics tools that deliver actionable insights on audience engagement and monetization performance. By facilitating seamless auctions and providing transparent reporting, PubMatic helps publishers maximize yield while improving buyer experiences.

Founded in 2006 by Rajeev Goel and a team of ad-tech veterans, PubMatic grew from an early entrant in programmatic selling to a publicly traded company, listing on the Nasdaq (symbol: PUBM) in December 2020.