62,232 Shares in PubMatic, Inc. (NASDAQ:PUBM) Purchased by Franklin Resources Inc.

Franklin Resources Inc. acquired a new position in shares of PubMatic, Inc. (NASDAQ:PUBM) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 62,232 shares of the company’s stock, valued at approximately $941,000. Franklin Resources Inc. owned about 0.13% of PubMatic as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in the stock. Virtu Financial LLC bought a new position in shares of PubMatic during the 3rd quarter valued at approximately $240,000. Geode Capital Management LLC grew its holdings in PubMatic by 0.8% during the third quarter. Geode Capital Management LLC now owns 961,155 shares of the company’s stock valued at $14,295,000 after purchasing an additional 7,225 shares during the period. Barclays PLC increased its position in PubMatic by 93.1% in the third quarter. Barclays PLC now owns 129,196 shares of the company’s stock worth $1,921,000 after buying an additional 62,284 shares during the last quarter. Main Management ETF Advisors LLC bought a new stake in shares of PubMatic in the third quarter valued at $565,000. Finally, Wellington Management Group LLP lifted its position in shares of PubMatic by 222.8% during the 3rd quarter. Wellington Management Group LLP now owns 752,329 shares of the company’s stock valued at $11,187,000 after buying an additional 519,275 shares during the last quarter. Institutional investors own 64.26% of the company’s stock.

Insider Activity

In other news, CEO Rajeev K. Goel sold 25,000 shares of PubMatic stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $16.31, for a total transaction of $407,750.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mukul Kumar sold 7,000 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $16.52, for a total value of $115,640.00. Following the transaction, the insider now directly owns 44,888 shares of the company’s stock, valued at $741,549.76. The trade was a 13.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 115,459 shares of company stock worth $1,751,886 in the last three months. Corporate insiders own 2.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PUBM shares. Macquarie reissued a “neutral” rating and issued a $19.00 price objective on shares of PubMatic in a report on Thursday, November 14th. Scotiabank initiated coverage on shares of PubMatic in a research note on Thursday, December 5th. They issued a “sector perform” rating and a $17.00 target price for the company. Finally, Evercore ISI upped their price target 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. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.13.

PubMatic Trading Down 2.1 %

Shares of NASDAQ:PUBM opened at $15.10 on Friday. PubMatic, Inc. has a 12 month low of $13.18 and a 12 month high of $25.36. The stock has a market cap of $721.28 million, a P/E ratio of 48.71 and a beta of 1.40. The company has a 50 day moving average of $15.71 and a 200 day moving average of $16.82.

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.