GSA Capital Partners LLP Purchases New Stake in PubMatic, Inc. (NASDAQ:PUBM)

GSA Capital Partners LLP acquired a new position in shares of PubMatic, Inc. (NASDAQ:PUBM) during the third quarter, HoldingsChannel.com reports. The firm acquired 17,113 shares of the company’s stock, valued at approximately $254,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PUBM. Millennium Management LLC acquired a new stake in shares of PubMatic during the 2nd quarter worth approximately $6,582,000. Renaissance Technologies LLC increased its stake in PubMatic by 28.8% during the second quarter. Renaissance Technologies LLC now owns 1,188,700 shares of the company’s stock worth $24,142,000 after acquiring an additional 265,700 shares during the last quarter. Sei Investments Co. raised its position in PubMatic by 190.6% in the second quarter. Sei Investments Co. now owns 70,129 shares of the company’s stock valued at $1,424,000 after purchasing an additional 45,998 shares during the period. Dana Investment Advisors Inc. purchased a new stake in PubMatic in the second quarter valued at $839,000. Finally, EFG Asset Management North America Corp. lifted its stake in shares of PubMatic by 33.5% in the 2nd quarter. EFG Asset Management North America Corp. now owns 100,938 shares of the company’s stock valued at $2,049,000 after purchasing an additional 25,327 shares during the last quarter. Institutional investors and hedge funds own 64.26% of the company’s stock.

PubMatic Trading Down 0.1 %

Shares of PubMatic stock opened at $16.18 on Friday. The company has a fifty day simple moving average of $15.04 and a 200-day simple moving average of $17.96. The stock has a market cap of $772.87 million, a price-to-earnings ratio of 52.19 and a beta of 1.39. PubMatic, Inc. has a 12-month low of $13.18 and a 12-month high of $25.36.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. B. Riley reduced their price objective on shares of PubMatic from $31.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Jefferies Financial Group decreased their price objective on shares of PubMatic from $26.00 to $16.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Royal Bank of Canada lowered their price objective on shares of PubMatic from $26.00 to $23.00 and set an “outperform” rating for the company in a research report on Tuesday, August 20th. Evercore ISI boosted their target price on PubMatic from $20.00 to $22.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Finally, Raymond James lowered PubMatic from an “outperform” rating to a “market perform” rating in a research report on Friday, August 9th. Three 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 company has a consensus rating of “Moderate Buy” and an average price target of $21.71.

Insider Buying and Selling

In other PubMatic news, Chairman Amar K. Goel sold 3,889 shares of the company’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $14.31, for a total transaction of $55,651.59. Following the completion of the sale, the chairman now directly owns 7,935 shares of the company’s stock, valued at $113,549.85. This represents a 32.89 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Andrew Woods sold 2,710 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $15.30, for a total value of $41,463.00. Following the completion of the transaction, the general counsel now directly owns 26,739 shares in the company, valued at approximately $409,106.70. The trade was a 9.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 104,769 shares of company stock worth $1,539,509 in the last 90 days. Company insiders own 2.90% of the company’s stock.

About PubMatic

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.