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

Macquarie Group Ltd. lifted its holdings in PubMatic, Inc. (NASDAQ:PUBMGet Rating) by 18.0% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 168,234 shares of the company’s stock after acquiring an additional 25,641 shares during the quarter. Macquarie Group Ltd. owned 0.32% of PubMatic worth $2,798,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC bought a new stake in PubMatic during the 3rd quarter valued at $32,000. Ensign Peak Advisors Inc raised its holdings in PubMatic by 37.9% during the 2nd quarter. Ensign Peak Advisors Inc now owns 3,490 shares of the company’s stock valued at $55,000 after buying an additional 960 shares during the last quarter. New York State Teachers Retirement System bought a new stake in PubMatic during the 3rd quarter valued at $60,000. Lazard Asset Management LLC raised its holdings in PubMatic by 236.0% during the 3rd quarter. Lazard Asset Management LLC now owns 3,790 shares of the company’s stock valued at $63,000 after buying an additional 2,662 shares during the last quarter. Finally, Motco bought a new stake in PubMatic during the 3rd quarter valued at $66,000. 41.61% of the stock is currently owned by institutional investors.

Insider Transactions at PubMatic

In other news, CEO Rajeev K. Goel sold 30,000 shares of the company’s stock in a transaction dated Friday, March 3rd. The shares were sold at an average price of $13.78, for a total value of $413,400.00. Following the sale, the chief executive officer now directly owns 17,449 shares of the company’s stock, valued at approximately $240,447.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Rajeev K. Goel sold 30,000 shares of the stock in a transaction dated Friday, March 3rd. The shares were sold at an average price of $13.78, for a total transaction of $413,400.00. Following the sale, the chief executive officer now directly owns 17,449 shares of the company’s stock, valued at approximately $240,447.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeffrey K. Hirsch sold 5,000 shares of the stock in a transaction dated Monday, December 12th. The shares were sold at an average price of $13.41, for a total transaction of $67,050.00. Following the sale, the insider now directly owns 7,662 shares in the company, valued at $102,747.42. The disclosure for this sale can be found here. Insiders have sold 57,628 shares of company stock valued at $778,622 in the last three months. 1.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PUBM. Royal Bank of Canada lowered their price target on shares of PubMatic from $24.00 to $20.00 and set an “outperform” rating for the company in a report on Wednesday, March 1st. Evercore ISI decreased their price objective on shares of PubMatic to $18.00 in a report on Tuesday, November 15th. Raymond James decreased their price objective on shares of PubMatic from $18.00 to $17.00 and set an “outperform” rating for the company in a report on Wednesday, March 1st. Jefferies Financial Group decreased their price objective on shares of PubMatic from $16.00 to $15.00 in a report on Thursday, December 15th. Finally, JMP Securities decreased their price objective on shares of PubMatic from $22.00 to $21.00 and set a “market perform” rating for the company in a report on Wednesday, March 1st. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $18.14.

PubMatic Price Performance

NASDAQ:PUBM opened at $13.21 on Friday. The firm’s 50-day moving average price is $14.79 and its 200-day moving average price is $15.91. The company has a market capitalization of $694.40 million, a PE ratio of 26.42 and a beta of 0.92. PubMatic, Inc. has a 1-year low of $12.19 and a 1-year high of $28.30.

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.

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Institutional Ownership by Quarter for PubMatic (NASDAQ:PUBM)

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