Dynamic Technology Lab Private Ltd Sells 42,280 Shares of PubMatic, Inc. (NASDAQ:PUBM)

Dynamic Technology Lab Private Ltd lowered its stake in PubMatic, Inc. (NASDAQ:PUBM) by 71.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,048 shares of the company’s stock after selling 42,280 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in PubMatic were worth $254,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Redwood Wealth Management Group LLC purchased a new stake in PubMatic in the 2nd quarter worth approximately $29,000. Headlands Technologies LLC purchased a new stake in shares of PubMatic in the second quarter worth $38,000. Founders Capital Management raised its position in shares of PubMatic by 100.0% during the 3rd quarter. Founders Capital Management now owns 2,000 shares of the company’s stock valued at $30,000 after purchasing an additional 1,000 shares during the period. New York State Teachers Retirement System purchased a new position in shares of PubMatic during the 3rd quarter valued at $51,000. Finally, International Assets Investment Management LLC boosted its holdings in PubMatic by 1,387.1% in the 3rd quarter. International Assets Investment Management LLC now owns 5,205 shares of the company’s stock worth $77,000 after buying an additional 4,855 shares during the period. 64.26% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at PubMatic

In related news, Chairman Amar K. Goel sold 3,889 shares of PubMatic stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $14.31, for a total transaction of $55,651.59. Following the completion of the transaction, the chairman now directly owns 7,935 shares of the company’s stock, valued at approximately $113,549.85. The trade was a 32.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Steven Pantelick sold 4,000 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $14.45, for a total transaction of $57,800.00. Following the transaction, the chief financial officer now owns 22,506 shares in the company, valued at $325,211.70. The trade was a 15.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 103,869 shares of company stock worth $1,525,262. 2.90% of the stock is currently owned by company insiders.

PubMatic Trading Up 0.8 %

Shares of NASDAQ PUBM opened at $15.95 on Monday. PubMatic, Inc. has a 12-month low of $13.18 and a 12-month high of $25.36. The firm’s 50-day moving average price is $15.17 and its 200-day moving average price is $17.69. The stock has a market capitalization of $761.88 million, a price-to-earnings ratio of 51.45 and a beta of 1.39.

Wall Street Analysts Forecast Growth

PUBM has been the topic of a number of recent analyst reports. B. Riley decreased their price target on PubMatic from $31.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Raymond James cut PubMatic from an “outperform” rating to a “market perform” rating in a report on Friday, August 9th. Royal Bank of Canada cut their price objective on shares of PubMatic from $26.00 to $23.00 and set an “outperform” rating for the company in a report on Tuesday, August 20th. Jefferies Financial Group lowered their target price 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. Finally, Evercore ISI raised their target price on shares of PubMatic from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $21.71.

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.