Macquarie Group Ltd. Purchases 25,641 Shares of PubMatic, Inc. (NASDAQ:PUBM)

Posted by on Mar 10th, 2023

Macquarie Group Ltd. increased its position in PubMatic, Inc. (NASDAQ:PUBM – Get Rating) by 18.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 168,234 shares of the company’s stock after purchasing an additional 25,641 shares during the quarter. Macquarie Group Ltd. owned approximately 0.32% of PubMatic worth $2,798,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Allspring Global Investments Holdings LLC bought a new stake in shares of PubMatic in the 3rd quarter valued at about $32,000. Ensign Peak Advisors Inc raised its holdings 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 valued at $55,000 after purchasing an additional 960 shares during the period. New York State Teachers Retirement System bought a new stake in shares of PubMatic in the 3rd quarter valued at about $60,000. Lazard Asset Management LLC raised its holdings 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 valued at $63,000 after purchasing an additional 2,662 shares during the period. Finally, Motco bought a new stake in shares of PubMatic in the 3rd quarter valued at about $66,000. 41.61% of the stock is owned by institutional investors.

PubMatic Stock Down 2.8 %

Shares of NASDAQ:PUBM opened at $13.21 on Friday. The company’s 50 day moving average price is $14.79 and its two-hundred day moving average price is $15.91. PubMatic, Inc. has a 12-month low of $12.19 and a 12-month high of $28.30. The firm has a market cap of $694.40 million, a PE ratio of 26.42 and a beta of 0.92.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PUBM. JMP Securities decreased their price target on shares of PubMatic from $22.00 to $21.00 and set a “market perform” rating on the stock in a research note on Wednesday, March 1st. Vertical Research lowered shares of PubMatic to a “neutral” rating in a research note on Tuesday, January 24th. Raymond James decreased their price target on shares of PubMatic from $18.00 to $17.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 1st. Oppenheimer decreased their price target on shares of PubMatic from $23.00 to $17.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 1st. Finally, Royal Bank of Canada decreased their price target on shares of PubMatic from $24.00 to $20.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 1st. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $18.14.

Insiders Place Their Bets

In other PubMatic news, CFO Steven Pantelick sold 3,353 shares of the stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $12.96, for a total transaction of $43,454.88. Following the transaction, the chief financial officer now owns 27,766 shares in the company, valued at approximately $359,847.36. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other PubMatic news, CFO Steven Pantelick sold 3,353 shares of the stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $12.96, for a total transaction of $43,454.88. Following the transaction, the chief financial officer now owns 27,766 shares in the company, valued at approximately $359,847.36. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Rajeev K. Goel sold 4,824 shares of the stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $12.96, for a total transaction of $62,519.04. Following the sale, the chief executive officer now owns 17,449 shares in the company, valued at approximately $226,139.04. The disclosure for this sale can be found here. Insiders have sold a total of 57,628 shares of company stock worth $778,622 in the last quarter. Corporate insiders own 1.20% of the company’s stock.

About PubMatic

(Get Rating)

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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Institutional Ownership by Quarter for PubMatic (NASDAQ:PUBM)

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