Victory Capital Management Inc. Raises Holdings in PubMatic, Inc. (NASDAQ:PUBM)

Victory Capital Management Inc. boosted its stake in shares of PubMatic, Inc. (NASDAQ:PUBM) by 99.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 72,083 shares of the company’s stock after acquiring an additional 35,898 shares during the quarter. Victory Capital Management Inc. owned 0.15% of PubMatic worth $1,072,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of PUBM. Millennium Management LLC acquired a new stake in shares of PubMatic during the 2nd quarter worth approximately $6,582,000. Acadian Asset Management LLC increased its holdings in PubMatic by 28,255.4% in the second quarter. Acadian Asset Management LLC now owns 291,493 shares of the company’s stock valued at $5,915,000 after buying an additional 290,465 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of PubMatic by 28.8% in 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 period. Cubist Systematic Strategies LLC raised its position in shares of PubMatic by 54.4% in the second quarter. Cubist Systematic Strategies LLC now owns 264,988 shares of the company’s stock worth $5,382,000 after acquiring an additional 93,327 shares during the period. Finally, Sei Investments Co. boosted its stake in shares of PubMatic by 190.6% during the 2nd quarter. Sei Investments Co. now owns 70,129 shares of the company’s stock worth $1,424,000 after acquiring an additional 45,998 shares in the last quarter. 64.26% of the stock is owned by institutional investors and hedge funds.

PubMatic Trading Down 0.5 %

NASDAQ:PUBM opened at $15.79 on Wednesday. The company has a market cap of $754.29 million, a P/E ratio of 50.94 and a beta of 1.39. PubMatic, Inc. has a twelve month low of $13.18 and a twelve month high of $25.36. The company’s 50-day moving average price is $15.09 and its 200-day moving average price is $17.84.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. B. Riley reduced their price target on PubMatic from $31.00 to $22.00 and set a “buy” rating for the company in a report on Friday, August 9th. Raymond James lowered PubMatic from an “outperform” rating to a “market perform” rating in a research report on Friday, August 9th. Royal Bank of Canada cut their price target 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. Evercore ISI increased their price objective on shares of PubMatic from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Finally, Macquarie reissued a “neutral” rating and set a $19.00 target price on shares of PubMatic in a research note on Thursday, November 14th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.71.

Insiders Place Their Bets

In other news, General Counsel Andrew Woods sold 2,710 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were 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. The trade was a 9.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Amar K. Goel sold 3,889 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $14.31, for a total transaction of $55,651.59. Following the sale, the chairman now owns 7,935 shares of the company’s stock, valued at approximately $113,549.85. The trade was a 32.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 103,869 shares of company stock valued at $1,525,262 in the last ninety days. 2.90% of the stock is currently owned by corporate insiders.

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.