Avestar Capital LLC Makes New $4.70 Million Investment in PubMatic, Inc. (NASDAQ:PUBM)

Avestar Capital LLC acquired a new position in shares of PubMatic, Inc. (NASDAQ:PUBM - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 320,000 shares of the company's stock, valued at approximately $4,701,000. Avestar Capital LLC owned about 0.67% of PubMatic as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. New York State Teachers Retirement System purchased a new stake in shares of PubMatic in the 3rd quarter valued at $51,000. FMR LLC lifted its stake in PubMatic by 201.6% in 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. 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 valued at $77,000 after buying an additional 4,855 shares during the period. CWA Asset Management Group LLC bought a new position in shares of PubMatic during the third quarter valued at about $161,000. Finally, Intech Investment Management LLC purchased a new position in shares of PubMatic in the third quarter worth about $170,000. 64.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at PubMatic

In other news, CFO Steven Pantelick sold 4,000 shares of the business's stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $16.56, for a total transaction of $66,240.00. Following the sale, the chief financial officer now owns 22,506 shares in the company, valued at approximately $372,699.36. The trade was a 15.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Rajeev K. Goel sold 25,000 shares of the company's stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $16.31, for a total transaction of $407,750.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 138,111 shares of company stock valued at $2,148,558. 2.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PUBM. Royal Bank of Canada reduced their price target on PubMatic from $21.00 to $19.00 and set an "outperform" rating on the stock in a research report on Friday, January 3rd. Scotiabank started coverage on shares of PubMatic in a report on Thursday, December 5th. They issued a "sector perform" rating and a $17.00 target price on the stock. Evercore ISI lifted their target price on shares of PubMatic from $20.00 to $22.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 13th. JMP Securities reissued a "market outperform" rating and set a $20.00 price target on shares of PubMatic in a research report on Monday, January 27th. Finally, Macquarie restated a "neutral" rating and issued a $19.00 price objective on shares of PubMatic in a research report on Thursday, November 14th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $20.00.

PubMatic Stock Down 0.6 %

Shares of PUBM traded down $0.10 during trading hours on Monday, reaching $15.70. 237,008 shares of the company traded hands, compared to its average volume of 284,180. PubMatic, Inc. has a 12 month low of $13.18 and a 12 month high of $25.36. The company has a market capitalization of $749.99 million, a price-to-earnings ratio of 50.65 and a beta of 1.41. The company's fifty day moving average price is $15.38 and its two-hundred day moving average price is $15.39.

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.