New York State Teachers Retirement System Purchases New Shares in PubMatic, Inc. (NASDAQ:PUBM)

New York State Teachers Retirement System bought a new position in PubMatic, Inc. (NASDAQ:PUBMGet Rating) during the 3rd quarter, Holdings Channel reports. The institutional investor bought 3,600 shares of the company’s stock, valued at approximately $60,000.

Other hedge funds have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new stake in PubMatic in the third quarter worth $32,000. Ensign Peak Advisors Inc raised its stake in shares of PubMatic by 37.9% in the second quarter. Ensign Peak Advisors Inc now owns 3,490 shares of the company’s stock worth $55,000 after purchasing an additional 960 shares during the last quarter. Assetmark Inc. raised its stake in shares of PubMatic by 368.4% in the second quarter. Assetmark Inc. now owns 4,281 shares of the company’s stock worth $68,000 after purchasing an additional 3,367 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of PubMatic in the second quarter worth $68,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of PubMatic by 47.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,852 shares of the company’s stock worth $93,000 after purchasing an additional 1,880 shares during the last quarter. 41.61% of the stock is owned by institutional investors.

Insider Buying and Selling at PubMatic

In other PubMatic news, Director Susan Daimler sold 15,750 shares of the business’s stock in a transaction dated Thursday, December 1st. The stock was sold at an average price of $15.71, for a total transaction of $247,432.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Susan Daimler sold 15,750 shares of the company’s stock in a transaction dated Thursday, December 1st. The stock was sold at an average price of $15.71, for a total value of $247,432.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeffrey K. Hirsch sold 5,000 shares of the company’s stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $15.27, for a total value of $76,350.00. Following the completion of the transaction, the insider now directly owns 7,662 shares of the company’s stock, valued at approximately $116,998.74. The disclosure for this sale can be found here. Over the last quarter, insiders sold 148,557 shares of company stock valued at $2,264,825. Company insiders own 1.20% of the company’s stock.

Analyst Ratings Changes

PUBM has been the subject of several recent analyst reports. Royal Bank of Canada decreased their price target on PubMatic from $31.00 to $27.00 and set an “outperform” rating for the company in a research note on Wednesday, November 9th. Raymond James reduced their price objective on PubMatic from $25.00 to $18.00 and set an “outperform” rating for the company in a research report on Wednesday, November 9th. Evercore ISI reduced their price objective on PubMatic to $18.00 in a research report on Tuesday, November 15th. Lake Street Capital reduced their price objective on PubMatic from $24.00 to $19.00 in a research report on Wednesday, November 9th. Finally, Oppenheimer set a $22.00 price objective on PubMatic in a research report on Thursday, December 15th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $23.63.

PubMatic Stock Performance

NASDAQ:PUBM opened at $14.40 on Friday. The stock has a 50-day simple moving average of $14.07 and a two-hundred day simple moving average of $16.54. PubMatic, Inc. has a 52-week low of $12.19 and a 52-week high of $31.85. The firm has a market capitalization of $756.95 million, a PE ratio of 18.46 and a beta of 0.81.

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, beating the consensus estimate of $0.13 by $0.09. PubMatic had a return on equity of 17.48% and a net margin of 17.14%. The business had revenue of $64.50 million during the quarter, compared to analyst estimates of $66.88 million. Equities analysts forecast that PubMatic, Inc. will post 0.54 earnings per share for the current fiscal year.

PubMatic Profile

(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.

Further Reading

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Institutional Ownership by Quarter for PubMatic (NASDAQ:PUBM)

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