Principal Financial Group Inc. Sells 7,292 Shares of PubMatic, Inc. (NASDAQ:PUBM)

Principal Financial Group Inc. decreased its position in shares of PubMatic, Inc. (NASDAQ:PUBM) by 24.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,944 shares of the company’s stock after selling 7,292 shares during the quarter. Principal Financial Group Inc.’s holdings in PubMatic were worth $341,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Redwood Wealth Management Group LLC bought a new stake in PubMatic during the second quarter worth $29,000. Headlands Technologies LLC bought a new stake in PubMatic during the second quarter worth $38,000. Founders Capital Management boosted its position in PubMatic by 100.0% in the third quarter. Founders Capital Management now owns 2,000 shares of the company’s stock worth $30,000 after purchasing an additional 1,000 shares during the last quarter. New York State Teachers Retirement System purchased a new position in PubMatic in the third quarter worth $51,000. Finally, SG Americas Securities LLC purchased a new position in PubMatic in the first quarter worth $107,000. Institutional investors own 64.26% of the company’s stock.

PubMatic Price Performance

PUBM stock opened at $16.18 on Monday. The company has a market cap of $772.87 million, a P/E ratio of 52.19 and a beta of 1.39. PubMatic, Inc. has a 1 year low of $13.18 and a 1 year high of $25.36. The stock’s fifty day moving average price is $15.04 and its 200-day moving average price is $17.93.

Insider Transactions at PubMatic

In other news, General Counsel Andrew Woods sold 2,710 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $15.30, for a total transaction of $41,463.00. Following the transaction, the general counsel now owns 26,739 shares of the company’s stock, valued at approximately $409,106.70. This represents a 9.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Amar K. Goel sold 3,889 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $14.31, for a total value of $55,651.59. Following the completion of the sale, the chairman now owns 7,935 shares of the company’s stock, valued at $113,549.85. The trade was a 32.89 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 104,769 shares of company stock valued at $1,539,509. 2.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on PUBM shares. Jefferies Financial Group cut their price objective on PubMatic from $26.00 to $16.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. Evercore ISI boosted their price objective 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 issued a $19.00 price objective on shares of PubMatic in a research report on Thursday, November 14th. Raymond James cut PubMatic from an “outperform” rating to a “market perform” rating in a research report on Friday, August 9th. Finally, Royal Bank of Canada cut their price objective on PubMatic from $26.00 to $23.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 20th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $21.71.

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.