JPMorgan Chase & Co. Increases Stock Position in PubMatic, Inc. (NASDAQ:PUBM)

JPMorgan Chase & Co. grew its holdings in PubMatic, Inc. (NASDAQ:PUBMFree Report) by 239.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,349 shares of the company’s stock after purchasing an additional 43,971 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.13% of PubMatic worth $927,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Geode Capital Management LLC grew its holdings in shares of PubMatic by 0.8% during the third quarter. Geode Capital Management LLC now owns 961,155 shares of the company’s stock worth $14,295,000 after buying an additional 7,225 shares in the last quarter. Wellington Management Group LLP grew its stake in PubMatic by 222.8% in the 3rd quarter. Wellington Management Group LLP now owns 752,329 shares of the company’s stock worth $11,187,000 after acquiring an additional 519,275 shares during the period. Jacobs Levy Equity Management Inc. raised its holdings in PubMatic by 17.4% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 676,464 shares of the company’s stock valued at $10,059,000 after acquiring an additional 100,479 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake 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 period. Finally, Millennium Management LLC acquired a new stake in shares of PubMatic during the second quarter worth $6,582,000. 64.26% of the stock is owned by hedge funds and other institutional investors.

PubMatic Price Performance

PubMatic stock opened at $14.97 on Friday. The company has a market cap of $715.12 million, a PE ratio of 48.29 and a beta of 1.41. PubMatic, Inc. has a 12 month low of $13.18 and a 12 month high of $25.36. The company has a fifty day moving average price of $15.45 and a two-hundred day moving average price of $16.03.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Evercore ISI boosted their target price on shares of PubMatic from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Scotiabank assumed coverage on shares of PubMatic in a report on Thursday, December 5th. They issued a “sector perform” rating and a $17.00 price target on the stock. Royal Bank of Canada dropped their price objective on PubMatic from $21.00 to $19.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Finally, Macquarie reiterated a “neutral” rating and issued a $19.00 target price on shares of PubMatic in a report on Thursday, November 14th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $20.63.

Check Out Our Latest Stock Analysis on PubMatic

Insider Buying and Selling

In other PubMatic news, Chairman Amar K. Goel sold 4,087 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $14.84, for a total value of $60,651.08. Following the completion of the transaction, the chairman now owns 14,044 shares in the company, valued at approximately $208,412.96. This represents a 22.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Andrew Woods sold 3,529 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $14.84, for a total value of $52,370.36. Following the transaction, the general counsel now owns 34,702 shares of the company’s stock, valued at approximately $514,977.68. This represents a 9.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 127,190 shares of company stock valued at $1,956,331. Insiders own 2.90% of the company’s stock.

PubMatic Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for PubMatic (NASDAQ:PUBM)

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