SG Americas Securities LLC Reduces Holdings in PubMatic, Inc. (NASDAQ:PUBM)

SG Americas Securities LLC lowered its position in shares of PubMatic, Inc. (NASDAQ:PUBM) by 36.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,330 shares of the company’s stock after selling 8,893 shares during the period. SG Americas Securities LLC’s holdings in PubMatic were worth $225,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC increased its stake in PubMatic by 0.8% during the third quarter. Geode Capital Management LLC now owns 961,155 shares of the company’s stock worth $14,295,000 after acquiring an additional 7,225 shares during the last quarter. Wellington Management Group LLP grew its holdings 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 worth $11,187,000 after purchasing an additional 519,275 shares during the period. Jacobs Levy Equity Management Inc. increased its position in shares of PubMatic by 17.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 676,464 shares of the company’s stock worth $10,059,000 after purchasing an additional 100,479 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in PubMatic by 122.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 434,867 shares of the company’s stock valued at $6,466,000 after buying an additional 239,406 shares during the period. Finally, Nordea Investment Management AB lifted its position in PubMatic by 377.4% in the fourth quarter. Nordea Investment Management AB now owns 340,544 shares of the company’s stock valued at $5,101,000 after buying an additional 269,217 shares during the last quarter. Hedge funds and other institutional investors own 64.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Royal Bank of Canada lowered their target price 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 increased their price objective on shares of PubMatic from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Scotiabank assumed coverage on PubMatic in a research report on Thursday, December 5th. They issued a “sector perform” rating and a $17.00 target price on the stock. Macquarie restated a “neutral” rating and set a $19.00 price target on shares of PubMatic in a research report on Thursday, November 14th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $20.00 price objective on shares of PubMatic in a report on Monday, January 27th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, PubMatic currently has an average rating of “Moderate Buy” and an average target price of $20.00.

PubMatic Trading Up 3.7 %

PubMatic stock opened at $16.43 on Friday. The firm has a market capitalization of $784.86 million, a P/E ratio of 53.00 and a beta of 1.41. PubMatic, Inc. has a twelve month low of $13.18 and a twelve month high of $25.36. The stock’s fifty day simple moving average is $15.41 and its 200-day simple moving average is $15.68.

Insider Buying and Selling

In other news, General Counsel Andrew Woods sold 3,529 shares of PubMatic stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $14.84, for a total transaction of $52,370.36. Following the completion of the sale, the general counsel now directly owns 34,702 shares of the company’s stock, valued at approximately $514,977.68. The trade was a 9.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Steven Pantelick sold 4,000 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $16.56, for a total transaction of $66,240.00. Following the transaction, the chief financial officer now owns 22,506 shares of the company’s stock, valued at approximately $372,699.36. The trade was a 15.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 132,489 shares of company stock valued at $2,053,107 in the last three months. 2.90% of the stock is owned by corporate insiders.

About PubMatic

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.