Connor Clark & Lunn Investment Management Ltd. Acquires New Shares in PubMatic, Inc. (NASDAQ:PUBM)

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of PubMatic, Inc. (NASDAQ:PUBM) during the fourth quarter, Holdings Channel.com reports. The fund acquired 82,748 shares of the company’s stock, valued at approximately $1,216,000.

Several other large investors have also added to or reduced their stakes in PUBM. SBI Securities Co. Ltd. purchased a new stake in shares of PubMatic in the fourth quarter worth about $27,000. FMR LLC increased its holdings in PubMatic by 201.6% during the 3rd quarter. FMR LLC now owns 4,053 shares of the company’s stock worth $60,000 after acquiring an additional 2,709 shares during the period. Intech Investment Management LLC purchased a new stake in PubMatic in the 3rd quarter worth approximately $170,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in PubMatic by 37.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,593 shares of the company’s stock valued at $187,000 after purchasing an additional 3,461 shares during the period. Finally, Virtu Financial LLC purchased a new position in shares of PubMatic during the 3rd quarter valued at $240,000. Institutional investors own 64.26% of the company’s stock.

Insider Transactions at PubMatic

In other news, General Counsel Andrew Woods sold 3,529 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $14.84, for a total value of $52,370.36. Following the transaction, the general counsel now owns 34,702 shares in the company, valued at approximately $514,977.68. This trade represents a 9.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mukul Kumar sold 4,480 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $14.84, for a total transaction of $66,483.20. Following the sale, the insider now owns 52,005 shares of the company’s stock, valued at $771,754.20. This represents a 7.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 94,811 shares of company stock worth $1,438,381. Company insiders own 2.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on PUBM shares. Scotiabank lowered their price objective 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. JMP Securities reaffirmed a “market outperform” rating and issued a $20.00 price target on shares of PubMatic in a report on Monday, January 27th. Royal Bank of Canada cut their price objective on PubMatic from $21.00 to $19.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Finally, Lake Street Capital lowered their target price on shares of PubMatic from $24.00 to $21.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $19.89.

PubMatic Price Performance

Shares of NASDAQ PUBM opened at $9.52 on Thursday. The stock has a market capitalization of $461.98 million, a P/E ratio of 30.71 and a beta of 1.48. PubMatic, Inc. has a one year low of $9.07 and a one year high of $25.36. The firm’s 50 day simple moving average is $13.65 and its two-hundred day simple moving average is $14.70.

PubMatic (NASDAQ:PUBM) last released its earnings results on Thursday, February 27th. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.11). The business 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, equities analysts expect that PubMatic, Inc. will post 0.22 earnings per share for the current fiscal year.

PubMatic Company 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.