Charles Schwab Investment Management Inc. Raises Stake in PubMatic, Inc. (NASDAQ:PUBM)

Charles Schwab Investment Management Inc. increased its stake in shares of PubMatic, Inc. (NASDAQ:PUBM) by 122.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 434,867 shares of the company’s stock after buying an additional 239,406 shares during the period. Charles Schwab Investment Management Inc.’s holdings in PubMatic were worth $6,466,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Redwood Wealth Management Group LLC bought a new position in PubMatic during the second quarter valued at $29,000. Headlands Technologies LLC purchased a new stake in PubMatic in the 2nd quarter worth about $38,000. Founders Capital Management raised its stake in PubMatic by 100.0% in the 3rd quarter. Founders Capital Management now owns 2,000 shares of the company’s stock valued at $30,000 after acquiring an additional 1,000 shares during the period. New York State Teachers Retirement System purchased a new stake in PubMatic during the third quarter valued at about $51,000. Finally, International Assets Investment Management LLC boosted its position in PubMatic by 1,387.1% during the third quarter. International Assets Investment Management LLC now owns 5,205 shares of the company’s stock worth $77,000 after purchasing an additional 4,855 shares during the period. Institutional investors own 64.26% of the company’s stock.

Insider Buying and Selling

In other news, CFO Steven Pantelick sold 4,000 shares of PubMatic stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $16.56, for a total transaction of $66,240.00. Following the completion of the sale, the chief financial officer now directly owns 22,506 shares in the company, valued at approximately $372,699.36. This trade represents a 15.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Amar K. Goel sold 3,889 shares of PubMatic stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $14.31, for a total value of $55,651.59. Following the sale, the chairman now directly owns 7,935 shares of the company’s stock, valued at approximately $113,549.85. This trade represents a 32.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 108,459 shares of company stock valued at $1,636,246. 2.90% of the stock is owned by company insiders.

PubMatic Stock Up 0.6 %

Shares of PubMatic stock opened at $16.79 on Thursday. PubMatic, Inc. has a twelve month low of $13.18 and a twelve month high of $25.36. The company has a market cap of $802.01 million, a price-to-earnings ratio of 53.84 and a beta of 1.40. The company’s 50 day moving average is $15.47 and its 200 day moving average is $17.36.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Evercore ISI lifted their price objective 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. 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. Macquarie reissued a “neutral” rating and set a $19.00 price objective on shares of PubMatic in a report on Thursday, November 14th. Finally, Royal Bank of Canada cut 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. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, PubMatic has an average rating of “Moderate Buy” and an average target price of $21.13.

PubMatic Company Profile

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.