Assetmark Inc. Purchases 2,736 Shares of PubMatic, Inc. (NASDAQ:PUBM)

Assetmark Inc. lifted its position in PubMatic, Inc. (NASDAQ:PUBMGet Rating) by 63.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,017 shares of the company’s stock after acquiring an additional 2,736 shares during the period. Assetmark Inc.’s holdings in PubMatic were worth $117,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of PubMatic by 13.8% in the 1st quarter. Vanguard Group Inc. now owns 2,682,842 shares of the company’s stock worth $70,076,000 after acquiring an additional 325,631 shares in the last quarter. Royal Bank of Canada increased its position in PubMatic by 8.0% during the 1st quarter. Royal Bank of Canada now owns 1,181,482 shares of the company’s stock valued at $30,860,000 after buying an additional 87,549 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in PubMatic during the 1st quarter valued at approximately $21,971,000. Renaissance Technologies LLC increased its position in PubMatic by 14.2% during the 1st quarter. Renaissance Technologies LLC now owns 776,900 shares of the company’s stock valued at $20,293,000 after buying an additional 96,346 shares in the last quarter. Finally, State Street Corp increased its position in PubMatic by 471.4% during the 2nd quarter. State Street Corp now owns 753,049 shares of the company’s stock valued at $11,966,000 after buying an additional 621,258 shares in the last quarter. Institutional investors own 41.61% of the company’s stock.

PubMatic Price Performance

PUBM stock opened at $14.40 on Friday. The company has a market cap of $756.95 million, a P/E ratio of 18.46 and a beta of 0.81. PubMatic, Inc. has a 1 year low of $12.19 and a 1 year high of $31.85. The stock’s fifty day moving average price is $14.07 and its 200-day moving average price is $16.54.

PubMatic (NASDAQ:PUBMGet Rating) last released its quarterly earnings results on Tuesday, November 8th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.09. The firm had revenue of $64.50 million for the quarter, compared to the consensus estimate of $66.88 million. PubMatic had a return on equity of 17.48% and a net margin of 17.14%. As a group, analysts expect that PubMatic, Inc. will post 0.54 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. JMP Securities reduced their price objective on PubMatic from $34.00 to $22.00 and set a “market outperform” rating for the company in a research report on Wednesday, November 9th. Raymond James reduced their target price on PubMatic from $25.00 to $18.00 and set an “outperform” rating for the company in a report on Wednesday, November 9th. Evercore ISI reduced their target price on PubMatic to $18.00 in a report on Tuesday, November 15th. Oppenheimer set a $22.00 target price on PubMatic in a report on Thursday, December 15th. Finally, Royal Bank of Canada reduced their target price on PubMatic from $31.00 to $27.00 and set an “outperform” rating for the company in a report on Wednesday, November 9th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.63.

Insider Activity at PubMatic

In related news, CFO Steven Pantelick sold 60,000 shares of PubMatic stock in a transaction on Friday, November 11th. The stock was sold at an average price of $16.13, for a total transaction of $967,800.00. Following the transaction, the chief financial officer now directly owns 23,801 shares in the company, valued at $383,910.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other PubMatic news, CEO Rajeev K. Goel sold 4,824 shares of the firm’s stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $12.96, for a total transaction of $62,519.04. Following the sale, the chief executive officer now directly owns 17,449 shares of the company’s stock, valued at $226,139.04. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Steven Pantelick sold 60,000 shares of the firm’s stock in a transaction dated Friday, November 11th. The shares were sold at an average price of $16.13, for a total value of $967,800.00. Following the sale, the chief financial officer now directly owns 23,801 shares in the company, valued at $383,910.13. The disclosure for this sale can be found here. Over the last three months, insiders have sold 148,557 shares of company stock worth $2,264,825. Corporate insiders own 1.20% of the company’s stock.

About PubMatic

(Get Rating)

PubMatic, Inc provides a cloud infrastructure platform that enables real-time programmatic advertising transactions for Internet content creators and advertisers worldwide. The company's solutions include Openwrap, a header bidding solution that provides enterprise-grade management and analytics tools; Openwrap OTT, a header bidding management solution for OTT; Openwrap SDK, a header bidding solution for in-app developers; private marketplace solutions; and media buyer consoles.

See Also

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Institutional Ownership by Quarter for PubMatic (NASDAQ:PUBM)

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