JPMorgan Chase & Co. Buys 43,971 Shares of PubMatic, Inc. (NASDAQ:PUBM)

JPMorgan Chase & Co. boosted its holdings in shares of PubMatic, Inc. (NASDAQ:PUBM - Free Report) by 239.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,349 shares of the company's stock after acquiring an additional 43,971 shares during the period. JPMorgan Chase & Co. owned 0.13% of PubMatic worth $927,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Franklin Resources Inc. purchased a new position in shares of PubMatic during the third quarter valued at approximately $941,000. Virtu Financial LLC purchased a new position in PubMatic during the third quarter valued at $240,000. Geode Capital Management LLC boosted its holdings in PubMatic by 0.8% in the third quarter. Geode Capital Management LLC now owns 961,155 shares of the company's stock worth $14,295,000 after acquiring an additional 7,225 shares in the last quarter. Barclays PLC grew its stake in shares of PubMatic by 93.1% in the third quarter. Barclays PLC now owns 129,196 shares of the company's stock worth $1,921,000 after acquiring an additional 62,284 shares during the last quarter. Finally, Main Management ETF Advisors LLC bought a new position in shares of PubMatic during the third quarter valued at $565,000. Institutional investors own 64.26% of the company's stock.

Insiders Place Their Bets

In related news, CEO Rajeev K. Goel sold 18,391 shares of PubMatic stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $15.44, for a total transaction of $283,957.04. Following the sale, the chief executive officer now owns 12,505 shares of the company's stock, valued at approximately $193,077.20. This trade represents a 59.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Steven Pantelick sold 4,000 shares of the company's stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $16.56, for a total value of $66,240.00. Following the completion of the transaction, the chief financial officer now owns 22,506 shares of the company's stock, valued at $372,699.36. The trade was a 15.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 127,190 shares of company stock worth $1,956,331. Company insiders own 2.90% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Macquarie reissued a "neutral" rating and set a $19.00 price objective on shares of PubMatic in a research report on Thursday, November 14th. Royal Bank of Canada cut their price target on shares of PubMatic from $21.00 to $19.00 and set an "outperform" rating on the stock in a report on Friday, January 3rd. Evercore ISI boosted their price objective on shares of PubMatic from $20.00 to $22.00 and gave the stock an "outperform" rating in a report on Wednesday, November 13th. Finally, Scotiabank started coverage on PubMatic in a research note on Thursday, December 5th. They set a "sector perform" rating and a $17.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, PubMatic presently has a consensus rating of "Moderate Buy" and a consensus target price of $20.63.

PubMatic Trading Down 1.1 %

NASDAQ PUBM traded down $0.16 on Friday, hitting $14.97. 249,255 shares of the company traded hands, compared to its average volume of 238,213. The business's 50 day moving average price is $15.45 and its 200-day moving average price is $16.00. The company has a market capitalization of $715.12 million, a price-to-earnings ratio of 48.29 and a beta of 1.41. PubMatic, Inc. has a 52-week low of $13.18 and a 52-week high of $25.36.

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.