Assetmark Inc. Purchases 2,736 Shares of PubMatic, Inc. (NASDAQ:PUBM)

Assetmark Inc. grew its position in shares of PubMatic, Inc. (NASDAQ:PUBMGet Rating) by 63.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,017 shares of the company’s stock after acquiring an additional 2,736 shares during the quarter. Assetmark Inc.’s holdings in PubMatic were worth $117,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Brinker Capital Investments LLC boosted its position in shares of PubMatic by 46.3% during the second quarter. Brinker Capital Investments LLC now owns 36,883 shares of the company’s stock valued at $586,000 after buying an additional 11,671 shares during the last quarter. Arizona State Retirement System purchased a new position in shares of PubMatic during the second quarter valued at approximately $166,000. Gratus Capital LLC boosted its position in shares of PubMatic by 7.8% during the second quarter. Gratus Capital LLC now owns 435,019 shares of the company’s stock valued at $6,912,000 after buying an additional 31,499 shares during the last quarter. Lapides Asset Management LLC boosted its position in shares of PubMatic by 6.1% during the third quarter. Lapides Asset Management LLC now owns 167,700 shares of the company’s stock valued at $2,789,000 after buying an additional 9,600 shares during the last quarter. Finally, Industrial Alliance Investment Management Inc. boosted its position in shares of PubMatic by 80.6% during the second quarter. Industrial Alliance Investment Management Inc. now owns 361,797 shares of the company’s stock valued at $5,749,000 after buying an additional 161,464 shares during the last quarter. Hedge funds and other institutional investors own 41.61% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on PUBM. Lake Street Capital cut their price objective on PubMatic from $24.00 to $19.00 in a research report on Wednesday, November 9th. Royal Bank of Canada cut their price objective on PubMatic from $31.00 to $27.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 9th. Oppenheimer set a $22.00 price objective on PubMatic in a research report on Thursday, December 15th. Jefferies Financial Group cut their price objective on PubMatic from $16.00 to $15.00 in a research report on Thursday, December 15th. Finally, Raymond James cut their price objective on PubMatic from $25.00 to $18.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 9th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $23.63.

PubMatic Stock Performance

NASDAQ:PUBM opened at $14.40 on Friday. PubMatic, Inc. has a 52-week low of $12.19 and a 52-week high of $31.85. The firm has a market cap of $756.95 million, a price-to-earnings ratio of 18.46 and a beta of 0.81. The business’s fifty day moving average is $14.07 and its 200 day moving average is $16.54.

PubMatic (NASDAQ:PUBMGet Rating) last released its quarterly earnings data on Tuesday, November 8th. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.09. PubMatic had a return on equity of 17.48% and a net margin of 17.14%. The company had revenue of $64.50 million for the quarter, compared to analyst estimates of $66.88 million. Equities analysts predict that PubMatic, Inc. will post 0.54 EPS for the current fiscal year.

Insider Activity at PubMatic

In related news, CFO Steven Pantelick sold 60,000 shares of the business’s stock in a transaction on Friday, November 11th. The stock was sold at an average price of $16.13, for a total transaction of $967,800.00. Following the sale, the chief financial officer now directly owns 23,801 shares in the company, valued at approximately $383,910.13. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other PubMatic news, CFO Steven Pantelick sold 60,000 shares of the company’s stock in a transaction dated Friday, November 11th. The stock was sold at an average price of $16.13, for a total value of $967,800.00. Following the transaction, the chief financial officer now directly owns 23,801 shares in the company, valued at approximately $383,910.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Susan Daimler sold 15,750 shares of the company’s stock in a transaction dated Thursday, December 1st. The stock was sold at an average price of $15.71, for a total value of $247,432.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 148,557 shares of company stock worth $2,264,825. 1.20% of the stock is owned by company insiders.

PubMatic Company Profile

(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.

See Also

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Institutional Ownership by Quarter for PubMatic (NASDAQ:PUBM)

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