Intech Investment Management LLC Invests $170,000 in PubMatic, Inc. (NASDAQ:PUBM)

Intech Investment Management LLC bought a new stake in PubMatic, Inc. (NASDAQ:PUBM) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,415 shares of the company’s stock, valued at approximately $170,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Redwood Wealth Management Group LLC bought a new stake in shares of PubMatic in the 2nd quarter valued at $29,000. Headlands Technologies LLC bought a new position in PubMatic during the second quarter worth $38,000. Founders Capital Management lifted its holdings in PubMatic by 100.0% in the third quarter. Founders Capital Management now owns 2,000 shares of the company’s stock valued at $30,000 after buying an additional 1,000 shares during the period. New York State Teachers Retirement System bought a new stake in PubMatic during the third quarter valued at $51,000. Finally, International Assets Investment Management LLC grew its holdings in PubMatic by 1,387.1% during the 3rd quarter. International Assets Investment Management LLC now owns 5,205 shares of the company’s stock worth $77,000 after acquiring an additional 4,855 shares during the period. Institutional investors and hedge funds own 64.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on PUBM shares. Royal Bank of Canada dropped their price objective on PubMatic from $26.00 to $23.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 20th. Jefferies Financial Group cut their price target on PubMatic from $26.00 to $16.00 and set a “hold” rating on the stock in a report on Friday, August 9th. B. Riley reduced their price objective on shares of PubMatic from $31.00 to $22.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Evercore ISI boosted their target price on shares of PubMatic from $20.00 to $22.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Finally, Raymond James cut shares of PubMatic from an “outperform” rating to a “market perform” rating in a report on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, PubMatic presently has a consensus rating of “Moderate Buy” and an average target price of $21.13.

Insider Transactions at PubMatic

In other news, General Counsel Andrew Woods sold 3,076 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $14.52, for a total value of $44,663.52. Following the completion of the sale, the general counsel now owns 32,349 shares in the company, valued at $469,707.48. This represents a 8.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Rajeev K. Goel sold 25,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $16.31, for a total transaction of $407,750.00. The disclosure for this sale can be found here. Insiders sold a total of 108,459 shares of company stock valued at $1,636,246 over the last three months. Corporate insiders own 2.90% of the company’s stock.

PubMatic Trading Up 4.4 %

Shares of PUBM stock opened at $16.81 on Friday. The firm has a fifty day simple moving average of $15.35 and a two-hundred day simple moving average of $17.58. PubMatic, Inc. has a 12 month low of $13.18 and a 12 month high of $25.36. The firm has a market capitalization of $802.96 million, a PE ratio of 51.94 and a beta of 1.40.

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.