Founders Capital Management lifted its holdings in PubMatic, Inc. (NASDAQ:PUBM – Free Report) by 100.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,000 shares of the company’s stock after purchasing an additional 1,000 shares during the quarter. Founders Capital Management’s holdings in PubMatic were worth $30,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in PUBM. Millennium Management LLC acquired a new stake in shares of PubMatic in the 2nd quarter valued at approximately $6,582,000. Acadian Asset Management LLC grew its position in shares of PubMatic by 28,255.4% in the 2nd quarter. Acadian Asset Management LLC now owns 291,493 shares of the company’s stock valued at $5,915,000 after acquiring an additional 290,465 shares during the period. Renaissance Technologies LLC grew its position in shares of PubMatic by 28.8% in the 2nd quarter. Renaissance Technologies LLC now owns 1,188,700 shares of the company’s stock valued at $24,142,000 after acquiring an additional 265,700 shares during the period. Jacobs Levy Equity Management Inc. increased its stake in shares of PubMatic by 92.5% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 440,127 shares of the company’s stock worth $10,440,000 after purchasing an additional 211,520 shares during the last quarter. Finally, Hillsdale Investment Management Inc. bought a new stake in shares of PubMatic in the 1st quarter valued at about $4,711,000. Institutional investors and hedge funds own 64.26% of the company’s stock.
PubMatic Stock Performance
NASDAQ:PUBM traded down $0.29 during mid-day trading on Monday, reaching $14.48. 339,713 shares of the company’s stock were exchanged, compared to its average volume of 481,403. PubMatic, Inc. has a one year low of $10.92 and a one year high of $25.36. The business’s fifty day simple moving average is $15.71 and its two-hundred day simple moving average is $19.85. The firm has a market capitalization of $723.00 million, a PE ratio of 70.33 and a beta of 1.39.
Insider Buying and Selling at PubMatic
In related news, CAO Lisa Gimbel sold 2,397 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $13.66, for a total value of $32,743.02. Following the transaction, the chief accounting officer now owns 3,956 shares in the company, valued at approximately $54,038.96. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Lisa Gimbel sold 2,397 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $13.66, for a total transaction of $32,743.02. Following the sale, the chief accounting officer now owns 3,956 shares in the company, valued at approximately $54,038.96. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Rajeev K. Goel sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $18.73, for a total transaction of $468,250.00. The disclosure for this sale can be found here. Insiders sold 118,896 shares of company stock valued at $1,906,263 in the last three months. Corporate insiders own 2.90% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on PUBM. Royal Bank of Canada lowered their price target on PubMatic from $26.00 to $23.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 20th. B. Riley dropped their price target on PubMatic from $31.00 to $22.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Wolfe Research began coverage on shares of PubMatic in a research report on Tuesday, July 16th. They set an “outperform” rating and a $25.00 price objective for the company. Raymond James lowered shares of PubMatic from an “outperform” rating to a “market perform” rating in a research report on Friday, August 9th. Finally, Jefferies Financial Group cut their target price on shares of PubMatic from $26.00 to $16.00 and set a “hold” rating for the company in a research note on Friday, August 9th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $21.00.
Check Out Our Latest Stock Analysis on PubMatic
PubMatic Profile
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.
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