Pinnacle Holdings LLC Makes New Investment in PubMatic, Inc. $PUBM

Pinnacle Holdings LLC bought a new position in PubMatic, Inc. (NASDAQ:PUBM) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 158,250 shares of the company’s stock, valued at approximately $2,076,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PUBM. Bank of New York Mellon Corp bought a new stake in shares of PubMatic in the second quarter worth $1,595,000. Versant Capital Management Inc grew its position in shares of PubMatic by 30.4% during the second quarter. Versant Capital Management Inc now owns 10,657 shares of the company’s stock valued at $140,000 after purchasing an additional 2,482 shares in the last quarter. Quantinno Capital Management LP grew its stake in shares of PubMatic by 248.0% in the 1st quarter. Quantinno Capital Management LP now owns 206,815 shares of the company’s stock worth $1,692,000 after buying an additional 147,386 shares in the last quarter. Renaissance Technologies LLC increased its position in PubMatic by 26.3% during the first quarter. Renaissance Technologies LLC now owns 1,540,533 shares of the company’s stock valued at $12,602,000 after acquiring an additional 321,200 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in PubMatic in the first quarter worth $1,687,000. Institutional investors own 64.26% of the company’s stock.

Insider Buying and Selling at PubMatic

In related news, CEO Rajeev K. Goel sold 211,302 shares of PubMatic stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $17.74, for a total value of $3,748,497.48. Following the completion of the transaction, the chief executive officer owned 31,692 shares in the company, valued at $562,216.08. The trade was a 86.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Andrew Woods sold 38,331 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $17.96, for a total transaction of $688,424.76. Following the completion of the sale, the general counsel directly owned 39,761 shares in the company, valued at approximately $714,107.56. This represents a 49.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 671,453 shares of company stock valued at $10,096,906 in the last 90 days. Company insiders own 27.78% of the company’s stock.

PubMatic Stock Performance

PUBM opened at $16.41 on Monday. PubMatic, Inc. has a one year low of $6.15 and a one year high of $18.44. The business’s 50 day moving average price is $13.77 and its 200 day moving average price is $10.62. The stock has a market capitalization of $747.48 million, a PE ratio of -54.70 and a beta of 1.54.

PubMatic (NASDAQ:PUBM) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.15. PubMatic had a negative net margin of 4.66% and a negative return on equity of 5.41%. The firm had revenue of $78.59 million for the quarter, compared to analyst estimates of $68.95 million. As a group, equities research analysts forecast that PubMatic, Inc. will post -0.09 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on PUBM shares. Lake Street Capital restated a “buy” rating and set a $20.00 price objective on shares of PubMatic in a research note on Friday, August 7th. Weiss Ratings downgraded PubMatic from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, August 11th. Citizens Jmp lifted their price objective on shares of PubMatic from $12.00 to $20.00 and gave the company a “market outperform” rating in a report on Friday, August 7th. Rosenblatt Securities increased their target price on PubMatic from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Finally, Evercore reiterated an “outperform” rating and set a $21.00 price target on shares of PubMatic in a research report on Monday, August 10th. Ten research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $18.25.

PubMatic Company 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.