Dynamic Technology Lab Private Ltd Trims Position in PubMatic, Inc. (NASDAQ:PUBM)

Dynamic Technology Lab Private Ltd lessened its holdings in shares of PubMatic, Inc. (NASDAQ:PUBM) by 71.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,048 shares of the company’s stock after selling 42,280 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in PubMatic were worth $254,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Pitcairn Co. raised its holdings in PubMatic by 45.6% in the 3rd quarter. Pitcairn Co. now owns 20,177 shares of the company’s stock worth $300,000 after purchasing an additional 6,322 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in PubMatic by 122.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 434,867 shares of the company’s stock worth $6,466,000 after buying an additional 239,406 shares in the last quarter. Intech Investment Management LLC bought a new position in PubMatic in the third quarter worth about $170,000. Quest Partners LLC boosted its position in PubMatic by 130.6% during the 3rd quarter. Quest Partners LLC now owns 40,539 shares of the company’s stock valued at $603,000 after acquiring an additional 22,956 shares in the last quarter. Finally, Zions Bancorporation N.A. boosted its position in PubMatic by 18.9% during the 3rd quarter. Zions Bancorporation N.A. now owns 73,343 shares of the company’s stock valued at $1,091,000 after acquiring an additional 11,644 shares in the last quarter. Hedge funds and other institutional investors own 64.26% of the company’s stock.

PubMatic Price Performance

Shares of NASDAQ:PUBM opened at $15.95 on Monday. PubMatic, Inc. has a 1 year low of $13.18 and a 1 year high of $25.36. The company has a market cap of $761.88 million, a P/E ratio of 51.45 and a beta of 1.39. The stock’s fifty day moving average price is $15.17 and its 200-day moving average price is $17.69.

Analyst Ratings Changes

A number of research firms have recently commented on PUBM. Royal Bank of Canada lowered their target price on PubMatic from $26.00 to $23.00 and set an “outperform” rating for the company in a research note on Tuesday, August 20th. Macquarie restated a “neutral” rating and set a $19.00 target price on shares of PubMatic in a report on Thursday, November 14th. Jefferies Financial Group decreased their price target on shares of PubMatic from $26.00 to $16.00 and set a “hold” rating for the company in a research note on Friday, August 9th. B. Riley dropped their price objective on shares of PubMatic from $31.00 to $22.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Finally, Evercore ISI raised their target price 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. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $21.71.

Insider Activity

In related news, General Counsel Andrew Woods sold 2,710 shares of PubMatic stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $15.30, for a total value of $41,463.00. Following the completion of the sale, the general counsel now owns 26,739 shares of the company’s stock, valued at $409,106.70. The trade was a 9.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Amar K. Goel sold 3,889 shares of the stock in a transaction dated 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 transaction, the chairman now directly owns 7,935 shares in the company, valued at approximately $113,549.85. This represents a 32.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 103,869 shares of company stock valued at $1,525,262 over the last three months. Insiders own 2.90% of the company’s stock.

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.