Nordea Investment Management AB Increases Stock Holdings in PubMatic, Inc. (NASDAQ:PUBM)

Nordea Investment Management AB boosted its position in shares of PubMatic, Inc. (NASDAQ:PUBM) by 377.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 340,544 shares of the company’s stock after acquiring an additional 269,217 shares during the quarter. Nordea Investment Management AB owned 0.71% of PubMatic worth $5,101,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PUBM. Founders Capital Management boosted its stake in shares of PubMatic by 100.0% in the 3rd 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. Redwood Wealth Management Group LLC purchased a new position in shares of PubMatic in the 2nd quarter valued at about $29,000. Headlands Technologies LLC purchased a new position in shares of PubMatic in the 2nd quarter valued at about $38,000. Mesirow Financial Investment Management Inc. raised its position in shares of PubMatic by 25.3% during the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 12,142 shares of the company’s stock worth $247,000 after acquiring an additional 2,453 shares in the last quarter. Finally, FMR LLC raised its position in shares of 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 in the last quarter. 64.26% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Steven Pantelick sold 4,000 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $16.56, for a total value of $66,240.00. Following the completion of the transaction, the chief financial officer now directly owns 22,506 shares of the company’s stock, valued at $372,699.36. The trade was a 15.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Rajeev K. Goel sold 18,391 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $15.44, for a total value of $283,957.04. Following the completion of the transaction, the chief executive officer now directly owns 12,505 shares of the company’s stock, valued at approximately $193,077.20. This trade represents a 59.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 127,190 shares of company stock worth $1,956,331. 2.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Scotiabank initiated coverage on PubMatic in a research report on Thursday, December 5th. They set a “sector perform” rating and a $17.00 target price on the stock. Royal Bank of Canada lowered their target price on PubMatic from $21.00 to $19.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. Evercore ISI lifted their target price on PubMatic from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Finally, Macquarie reiterated a “neutral” rating and issued a $19.00 target price on shares of PubMatic in a research note on Thursday, November 14th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, PubMatic presently has an average rating of “Moderate Buy” and a consensus price target of $20.63.

PubMatic Stock Performance

PUBM opened at $14.10 on Friday. The business’s fifty day moving average is $15.67 and its two-hundred day moving average is $16.45. The company has a market cap of $673.51 million, a price-to-earnings ratio of 45.48 and a beta of 1.41. PubMatic, Inc. has a one year low of $13.18 and a one year high of $25.36.

About PubMatic

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.