Dynamic Technology Lab Private Ltd Sells 42,280 Shares of PubMatic, Inc. (NASDAQ:PUBM)

Dynamic Technology Lab Private Ltd cut its position in shares of PubMatic, Inc. (NASDAQ:PUBM - Free Report) by 71.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,048 shares of the company's stock after selling 42,280 shares during the quarter. Dynamic Technology Lab Private Ltd's holdings in PubMatic were worth $254,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pitcairn Co. increased its holdings in PubMatic by 45.6% in the 3rd quarter. Pitcairn Co. now owns 20,177 shares of the company's stock valued at $300,000 after buying an additional 6,322 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of PubMatic by 122.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 434,867 shares of the company's stock valued at $6,466,000 after acquiring an additional 239,406 shares in the last quarter. Intech Investment Management LLC bought a new stake in PubMatic in the third quarter valued at about $170,000. Quest Partners LLC raised its position in PubMatic by 130.6% in the third quarter. Quest Partners LLC now owns 40,539 shares of the company's stock worth $603,000 after purchasing an additional 22,956 shares in the last quarter. Finally, Zions Bancorporation N.A. raised its position in PubMatic by 18.9% in the third quarter. Zions Bancorporation N.A. now owns 73,343 shares of the company's stock worth $1,091,000 after purchasing an additional 11,644 shares in the last quarter. 64.26% of the stock is currently owned by institutional investors.

PubMatic Stock Performance

Shares of NASDAQ PUBM traded up $0.88 during trading on Monday, reaching $16.83. The company had a trading volume of 535,585 shares, compared to its average volume of 465,344. PubMatic, Inc. has a 52 week low of $13.18 and a 52 week high of $25.36. The business's 50 day moving average price is $15.17 and its 200-day moving average price is $17.69. The stock has a market cap of $803.92 million, a PE ratio of 54.58 and a beta of 1.39.

Insider Activity at PubMatic

In related news, Chairman Amar K. Goel sold 3,889 shares of PubMatic stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $14.31, for a total value of $55,651.59. Following the completion of the sale, the chairman now directly owns 7,935 shares in the company, valued at $113,549.85. This trade represents a 32.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Rajeev K. Goel sold 25,000 shares of the business's stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $15.25, for a total value of $381,250.00. The disclosure for this sale can be found here. Insiders sold a total of 103,869 shares of company stock valued at $1,525,262 over the last quarter. Corporate insiders own 2.90% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on PUBM. Raymond James lowered PubMatic from an "outperform" rating to a "market perform" rating in a research note on Friday, August 9th. Macquarie reiterated a "neutral" rating and set a $19.00 price objective on shares of PubMatic in a research note on Thursday, November 14th. Royal Bank of Canada reduced their target price on shares of PubMatic from $26.00 to $23.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 20th. B. Riley dropped their target price on shares of PubMatic from $31.00 to $22.00 and set a "buy" rating for the company in a research report on Friday, August 9th. Finally, Evercore ISI boosted their price target on shares of PubMatic from $20.00 to $22.00 and gave the company an "outperform" rating in a research report on Wednesday, November 13th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, PubMatic currently has a consensus rating of "Moderate Buy" and a consensus price target of $21.71.

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.