UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $1.19 Million Stake in PubMatic, Inc. (NASDAQ:PUBM)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its stake in PubMatic, Inc. (NASDAQ:PUBM) by 9.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 80,320 shares of the company’s stock after selling 7,926 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.16% of PubMatic worth $1,194,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Redwood Wealth Management Group LLC purchased a new stake in PubMatic during the second quarter worth about $29,000. Founders Capital Management grew its holdings in PubMatic by 100.0% during the third quarter. Founders Capital Management now owns 2,000 shares of the company’s stock valued at $30,000 after purchasing an additional 1,000 shares during the period. Headlands Technologies LLC purchased a new stake in PubMatic in the second quarter worth $38,000. New York State Teachers Retirement System bought a new stake in shares of PubMatic in the third quarter valued at $51,000. Finally, FMR LLC lifted its position in shares of PubMatic by 201.6% during the 3rd quarter. FMR LLC now owns 4,053 shares of the company’s stock valued at $60,000 after buying an additional 2,709 shares during the last quarter. Hedge funds and other institutional investors own 64.26% of the company’s stock.

Insider Buying and Selling

In other news, Chairman Amar K. Goel sold 3,889 shares of the firm’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $14.31, for a total value of $55,651.59. Following the completion of the sale, the chairman now owns 7,935 shares of the company’s stock, valued at $113,549.85. This trade represents a 32.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mukul Kumar sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $16.52, for a total transaction of $115,640.00. Following the transaction, the insider now owns 44,888 shares in the company, 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 a total of 115,459 shares of company stock worth $1,751,886 over the last three months. 2.90% of the stock is owned by insiders.

PubMatic Stock Down 1.5 %

Shares of PubMatic stock opened at $16.27 on Wednesday. The firm has a market cap of $777.22 million, a price-to-earnings ratio of 52.48 and a beta of 1.40. PubMatic, Inc. has a twelve month low of $13.18 and a twelve month high of $25.36. The business has a 50-day moving average price of $15.66 and a 200-day moving average price of $17.12.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on PUBM shares. Macquarie reissued a “neutral” rating and set a $19.00 target price on shares of PubMatic in a report on Thursday, November 14th. Scotiabank started coverage on PubMatic in a research note on Thursday, December 5th. They set a “sector perform” rating and a $17.00 price objective on the stock. Evercore ISI raised their target price on PubMatic from $20.00 to $22.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Finally, Royal Bank of Canada decreased their price target on PubMatic from $26.00 to $23.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 20th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, PubMatic currently has an average rating of “Moderate Buy” and an average target price of $21.13.

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.