Franklin Resources Inc. Acquires New Shares in PubMatic, Inc. (NASDAQ:PUBM)

Franklin Resources Inc. acquired a new stake in PubMatic, Inc. (NASDAQ:PUBM - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 62,232 shares of the company's stock, valued at approximately $941,000. Franklin Resources Inc. owned 0.13% of PubMatic as of its most recent SEC filing.

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

PubMatic Trading Down 2.1 %

PUBM traded down $0.33 on Friday, hitting $15.10. 254,110 shares of the company's stock were exchanged, compared to its average volume of 452,709. PubMatic, Inc. has a fifty-two week low of $13.18 and a fifty-two week high of $25.36. The stock has a market cap of $721.28 million, a price-to-earnings ratio of 48.71 and a beta of 1.40. The firm has a 50-day moving average price of $15.71 and a 200-day moving average price of $16.79.

Insider Buying and Selling

In related news, insider Mukul Kumar sold 7,000 shares of PubMatic stock in a transaction that occurred on Monday, December 16th. The stock was 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 approximately $741,549.76. This trade represents a 13.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Andrew Woods sold 3,076 shares of the company's stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $14.52, for a total value of $44,663.52. Following the completion of the sale, the general counsel now owns 32,349 shares of the company's stock, valued at approximately $469,707.48. The trade was a 8.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 115,459 shares of company stock worth $1,751,886. 2.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on PUBM. Macquarie reissued a "neutral" rating and issued a $19.00 price objective on shares of PubMatic in a report on Thursday, November 14th. Scotiabank initiated coverage on shares of PubMatic in a research note on Thursday, December 5th. They issued a "sector perform" rating and a $17.00 price target on the stock. Finally, Evercore ISI boosted their price target on shares of PubMatic from $20.00 to $22.00 and gave the stock an "outperform" rating in a report on Wednesday, November 13th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target 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.