PubMatic, Inc. (NASDAQ:PUBM) Holdings Lifted by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its holdings in PubMatic, Inc. (NASDAQ:PUBM) by 239.3% during the 3rd quarter, Holdings Channel.com reports. The fund owned 62,349 shares of the company’s stock after purchasing an additional 43,971 shares during the quarter. JPMorgan Chase & Co.’s holdings in PubMatic were worth $927,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of PUBM. Founders Capital Management boosted its position in shares of PubMatic by 100.0% in 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 acquired a new position in shares of PubMatic in the third quarter worth about $51,000. FMR LLC boosted its holdings in shares of PubMatic by 201.6% in the third quarter. FMR LLC now owns 4,053 shares of the company’s stock worth $60,000 after buying an additional 2,709 shares during the period. International Assets Investment Management LLC increased its position in shares of PubMatic by 1,387.1% in the third quarter. International Assets Investment Management LLC now owns 5,205 shares of the company’s stock worth $77,000 after acquiring an additional 4,855 shares in the last quarter. Finally, CWA Asset Management Group LLC acquired a new stake in shares of PubMatic during the third quarter valued at approximately $161,000. 64.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other PubMatic news, insider Mukul Kumar sold 7,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $16.54, for a total transaction of $115,780.00. Following the transaction, the insider now directly owns 44,888 shares in the company, valued at $742,447.52. This trade represents a 13.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Steven Pantelick sold 4,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $16.56, for a total value of $66,240.00. Following the sale, the chief financial officer now owns 22,506 shares of the company’s stock, valued at approximately $372,699.36. This trade represents a 15.09 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 127,190 shares of company stock worth $1,956,331. Insiders own 2.90% of the company’s stock.

Analysts Set New Price Targets

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

PubMatic Price Performance

Shares of PUBM stock opened at $14.97 on Friday. The firm has a market cap of $715.12 million, a P/E ratio of 48.29 and a beta of 1.41. PubMatic, Inc. has a fifty-two week low of $13.18 and a fifty-two week high of $25.36. The stock’s 50-day moving average is $15.45 and its two-hundred day moving average is $16.03.

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.