Royal Bank of Canada boosted its stake in shares of PubMatic, Inc. (NASDAQ:PUBM – Get Rating) by 2.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,219,599 shares of the company’s stock after acquiring an additional 32,960 shares during the quarter. Royal Bank of Canada owned 2.35% of PubMatic worth $20,282,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also bought and sold shares of the company. Allspring Global Investments Holdings LLC bought a new position in PubMatic during the 3rd quarter valued at approximately $32,000. Ensign Peak Advisors Inc raised its position in shares of PubMatic by 37.9% in the 2nd quarter. Ensign Peak Advisors Inc now owns 3,490 shares of the company’s stock worth $55,000 after acquiring an additional 960 shares in the last quarter. New York State Teachers Retirement System bought a new position in shares of PubMatic in the 3rd quarter worth approximately $60,000. Lazard Asset Management LLC raised its position in shares of PubMatic by 236.0% in the 3rd quarter. Lazard Asset Management LLC now owns 3,790 shares of the company’s stock worth $63,000 after acquiring an additional 2,662 shares in the last quarter. Finally, Motco bought a new position in shares of PubMatic in the 3rd quarter worth approximately $66,000. Institutional investors own 41.61% of the company’s stock.
Insider Buying and Selling at PubMatic
In other PubMatic news, CFO Steven Pantelick sold 3,353 shares of the firm’s stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $12.96, for a total transaction of $43,454.88. Following the sale, the chief financial officer now directly owns 27,766 shares of the company’s stock, valued at $359,847.36. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other PubMatic news, insider Jeffrey K. Hirsch sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, January 10th. The stock was sold at an average price of $13.90, for a total transaction of $69,500.00. Following the sale, the insider now directly owns 7,662 shares of the company’s stock, valued at $106,501.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Steven Pantelick sold 3,353 shares of the firm’s stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $12.96, for a total value of $43,454.88. Following the sale, the chief financial officer now directly owns 27,766 shares in the company, valued at $359,847.36. The disclosure for this sale can be found here. Insiders have sold a total of 57,628 shares of company stock valued at $778,622 over the last ninety days. 1.20% of the stock is currently owned by company insiders.
PubMatic Stock Performance
Analysts Set New Price Targets
PUBM has been the subject of several research reports. Raymond James decreased their target price on PubMatic from $18.00 to $17.00 and set an “outperform” rating for the company in a research report on Wednesday, March 1st. Jefferies Financial Group cut their target price on PubMatic from $16.00 to $15.00 in a research note on Thursday, December 15th. Oppenheimer cut their target price on PubMatic from $23.00 to $17.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 1st. JMP Securities dropped their price target on PubMatic from $22.00 to $21.00 and set a “market perform” rating on the stock in a research note on Wednesday, March 1st. Finally, Vertical Research downgraded PubMatic to a “neutral” rating in a research note on Tuesday, January 24th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, PubMatic has an average rating of “Moderate Buy” and an average target price of $18.14.
PubMatic Company Profile
PubMatic, Inc provides a cloud infrastructure platform that enables real-time programmatic advertising transactions for Internet content creators and advertisers worldwide. The company's solutions include Openwrap, a header bidding solution that provides enterprise-grade management and analytics tools; Openwrap OTT, a header bidding management solution for OTT; Openwrap SDK, a header bidding solution for in-app developers; private marketplace solutions; and media buyer consoles.
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