PubMatic, Inc. (NASDAQ:PUBM) Shares Sold by State Street Corp

State Street Corp lessened its stake in PubMatic, Inc. (NASDAQ:PUBM) by 3.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 963,061 shares of the company’s stock after selling 30,523 shares during the period. State Street Corp owned 1.94% of PubMatic worth $14,321,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Redwood Wealth Management Group LLC purchased a new position in PubMatic during the 2nd quarter worth $29,000. Headlands Technologies LLC acquired a new stake in shares of PubMatic in the second quarter valued at approximately $38,000. Founders Capital Management raised its holdings in shares of PubMatic by 100.0% in the third quarter. Founders Capital Management now owns 2,000 shares of the company’s stock worth $30,000 after acquiring an additional 1,000 shares during the last quarter. New York State Teachers Retirement System acquired a new position in shares of PubMatic in the third quarter valued at approximately $51,000. Finally, FMR LLC boosted its holdings in shares of PubMatic by 201.6% during the third quarter. FMR LLC now owns 4,053 shares of the company’s stock worth $60,000 after purchasing an additional 2,709 shares during the last quarter. Institutional investors and hedge funds own 64.26% of the company’s stock.

PubMatic Stock Performance

Shares of NASDAQ PUBM opened at $15.37 on Wednesday. The stock has a market cap of $734.18 million, a P/E ratio of 49.58 and a beta of 1.40. The firm has a 50 day moving average price of $15.70 and a 200 day moving average price of $16.96. PubMatic, Inc. has a 52-week low of $13.18 and a 52-week high of $25.36.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Scotiabank started 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 on the stock. Evercore ISI raised their price objective on PubMatic from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Finally, Macquarie reaffirmed a “neutral” rating and issued a $19.00 target price on shares of PubMatic in a research report on Thursday, November 14th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $21.13.

Insider Buying and Selling at PubMatic

In other news, Chairman Amar K. Goel sold 3,889 shares of the company’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $14.31, for a total transaction of $55,651.59. Following the completion of the sale, the chairman now owns 7,935 shares of the company’s stock, valued at approximately $113,549.85. This represents a 32.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Rajeev K. Goel sold 25,000 shares of PubMatic stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $14.46, for a total value of $361,500.00. Following the sale, the chief executive officer now directly owns 24,222 shares in the company, valued at $350,250.12. The trade was a 50.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 115,459 shares of company stock valued at $1,751,886 in the last quarter. 2.90% of the stock is currently owned by 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.