PubMatic, Inc. (NASDAQ:PUBM) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. decreased its stake in PubMatic, Inc. (NASDAQ:PUBM) by 47.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,402 shares of the company’s stock after selling 4,814 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in PubMatic were worth $82,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Wellington Management Group LLP boosted its position in shares of PubMatic by 222.8% during the third quarter. Wellington Management Group LLP now owns 752,329 shares of the company’s stock worth $11,187,000 after buying an additional 519,275 shares during the period. Nordea Investment Management AB grew its stake in shares of PubMatic by 377.4% in the fourth quarter. Nordea Investment Management AB now owns 340,544 shares of the company’s stock worth $5,101,000 after purchasing an additional 269,217 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of PubMatic by 122.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 434,867 shares of the company’s stock valued at $6,466,000 after purchasing an additional 239,406 shares during the period. Jacobs Levy Equity Management Inc. raised its stake in shares of PubMatic by 17.4% during the third quarter. Jacobs Levy Equity Management Inc. now owns 676,464 shares of the company’s stock valued at $10,059,000 after purchasing an additional 100,479 shares in the last quarter. Finally, Barclays PLC lifted its holdings 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 purchasing an additional 62,284 shares during the period. Institutional investors own 64.26% of the company’s stock.

PubMatic Price Performance

Shares of PUBM opened at $15.70 on Friday. PubMatic, Inc. has a one year low of $13.18 and a one year high of $25.36. The company has a 50-day moving average of $15.38 and a two-hundred day moving average of $15.48. The stock has a market cap of $749.99 million, a price-to-earnings ratio of 50.65 and a beta of 1.41.

Insiders Place Their Bets

In other PubMatic news, CEO Rajeev K. Goel sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $16.31, for a total value of $407,750.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Mukul Kumar sold 7,000 shares of PubMatic stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $16.54, for a total transaction of $115,780.00. Following the sale, the insider now directly owns 44,888 shares of the company’s stock, valued at $742,447.52. This trade represents a 13.49 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 139,489 shares of company stock worth $2,168,677. Corporate insiders own 2.90% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Evercore ISI boosted their price target 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. Royal Bank of Canada cut their target price on PubMatic from $21.00 to $19.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. JMP Securities reiterated a “market outperform” rating and set a $20.00 price target on shares of PubMatic in a research report on Monday, January 27th. Macquarie restated a “neutral” rating and issued a $19.00 price objective on shares of PubMatic in a report on Thursday, November 14th. Finally, Scotiabank initiated coverage on shares of PubMatic in a research report on Thursday, December 5th. They issued a “sector perform” rating and a $17.00 price target on the stock. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, PubMatic currently has an average rating of “Moderate Buy” and an average price target of $20.00.

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.