SBI Securities Co. Ltd. acquired a new position in shares of PubMatic, Inc. (NASDAQ:PUBM – Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 1,845 shares of the company’s stock, valued at approximately $27,000.
Other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP raised its position in shares of PubMatic by 222.8% during the 3rd quarter. Wellington Management Group LLP now owns 752,329 shares of the company’s stock worth $11,187,000 after purchasing an additional 519,275 shares during the last quarter. Nordea Investment Management AB raised its position in shares of PubMatic by 377.4% during the 4th quarter. Nordea Investment Management AB now owns 340,544 shares of the company’s stock worth $5,101,000 after purchasing an additional 269,217 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of PubMatic by 239.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 62,349 shares of the company’s stock worth $927,000 after purchasing an additional 43,971 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of PubMatic by 99.2% during the 3rd quarter. Victory Capital Management Inc. now owns 72,083 shares of the company’s stock worth $1,072,000 after purchasing an additional 35,898 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of PubMatic by 122.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 434,867 shares of the company’s stock worth $6,466,000 after purchasing an additional 239,406 shares during the last quarter. 64.26% of the stock is currently owned by institutional investors and hedge funds.
PubMatic Stock Down 8.4 %
Shares of NASDAQ PUBM opened at $9.09 on Friday. PubMatic, Inc. has a 52-week low of $9.07 and a 52-week high of $25.36. The firm has a fifty day moving average of $14.10 and a 200-day moving average of $14.87. The stock has a market capitalization of $441.11 million, a PE ratio of 29.32 and a beta of 1.48.
Insider Activity
In related news, Chairman Amar K. Goel sold 4,087 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 $60,651.08. Following the completion of the sale, the chairman now directly owns 14,044 shares of the company’s stock, valued at approximately $208,412.96. This represents a 22.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Andrew Woods sold 3,529 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $14.84, for a total transaction of $52,370.36. Following the sale, the general counsel now directly owns 34,702 shares of the company’s stock, valued at approximately $514,977.68. This trade represents a 9.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 101,811 shares of company stock valued at $1,554,021 in the last ninety days. Company insiders own 2.90% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages have weighed in on PUBM. Lake Street Capital cut their price target on PubMatic from $24.00 to $21.00 and set a “buy” rating for the company in a report on Friday, February 28th. Royal Bank of Canada cut their price target on PubMatic from $21.00 to $19.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Scotiabank cut their price target on PubMatic from $17.00 to $15.00 and set a “sector perform” rating for the company in a report on Friday, February 28th. JMP Securities reiterated a “market outperform” rating and issued a $20.00 price target on shares of PubMatic in a report on Monday, January 27th. Finally, Macquarie reiterated a “neutral” rating and issued a $19.00 price target on shares of PubMatic in a report on Thursday, November 14th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $19.89.
Read Our Latest Stock Report on PUBM
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.
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