New York State Teachers Retirement System Makes New $51,000 Investment in PubMatic, Inc. (NASDAQ:PUBM)

New York State Teachers Retirement System bought a new stake in shares of PubMatic, Inc. (NASDAQ:PUBM) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 3,404 shares of the company’s stock, valued at approximately $51,000.

A number of other hedge funds have also recently modified their holdings of the business. Millennium Management LLC purchased a new stake in PubMatic during the second quarter worth $6,582,000. Acadian Asset Management LLC grew its position in PubMatic by 28,255.4% during the 2nd quarter. Acadian Asset Management LLC now owns 291,493 shares of the company’s stock worth $5,915,000 after purchasing an additional 290,465 shares during the period. Renaissance Technologies LLC grew its position in PubMatic by 28.8% during the 2nd quarter. Renaissance Technologies LLC now owns 1,188,700 shares of the company’s stock worth $24,142,000 after purchasing an additional 265,700 shares during the period. Jacobs Levy Equity Management Inc. grew its position 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 valued at $10,440,000 after acquiring an additional 211,520 shares during the period. Finally, Hillsdale Investment Management Inc. acquired a new stake in shares of PubMatic during the 1st quarter valued at about $4,711,000. Institutional investors own 64.26% of the company’s stock.

PubMatic Price Performance

Shares of PUBM opened at $16.37 on Tuesday. The firm has a fifty day moving average price of $14.84 and a 200 day moving average price of $18.40. PubMatic, Inc. has a 1-year low of $13.18 and a 1-year high of $25.36. The stock has a market cap of $811.69 million, a PE ratio of 45.47 and a beta of 1.39.

Insider Activity

In other news, CAO Lisa Gimbel sold 2,397 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $13.66, for a total value of $32,743.02. Following the completion of the sale, the chief accounting officer now directly owns 3,956 shares of the company’s stock, valued at approximately $54,038.96. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Lisa Gimbel sold 2,397 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $13.66, for a total transaction of $32,743.02. Following the transaction, the chief accounting officer now directly owns 3,956 shares in the company, valued at $54,038.96. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Steven Pantelick sold 4,000 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was 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 approximately $325,211.70. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 105,788 shares of company stock valued at $1,552,133. Insiders own 2.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PUBM. Raymond James lowered shares of PubMatic from an “outperform” rating to a “market perform” rating in a research note on Friday, August 9th. Royal Bank of Canada decreased their price target on shares of PubMatic from $26.00 to $23.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 20th. Jefferies Financial Group decreased their price target on shares of PubMatic from $26.00 to $16.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. Macquarie decreased their target price on shares of PubMatic from $24.00 to $19.00 and set a “neutral” rating on the stock in a research note on Friday, August 9th. Finally, Wolfe Research initiated coverage on shares of PubMatic in a report on Tuesday, July 16th. They set an “outperform” rating and a $25.00 price target for the company. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $21.67.

PubMatic Company 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.