Main Management ETF Advisors LLC Buys New Holdings in PubMatic, Inc. (NASDAQ:PUBM)

Main Management ETF Advisors LLC acquired a new position in shares of PubMatic, Inc. (NASDAQ:PUBM - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 38,024 shares of the company's stock, valued at approximately $565,000. Main Management ETF Advisors LLC owned about 0.08% of PubMatic as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Millennium Management LLC purchased a new position in shares of PubMatic in the 2nd quarter worth $6,582,000. Victory Capital Management Inc. increased its position in shares of PubMatic by 99.2% during the third quarter. Victory Capital Management Inc. now owns 72,083 shares of the company's stock worth $1,072,000 after acquiring an additional 35,898 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of PubMatic by 28.8% during the second quarter. Renaissance Technologies LLC now owns 1,188,700 shares of the company's stock worth $24,142,000 after acquiring an additional 265,700 shares during the last quarter. Sei Investments Co. grew its stake in PubMatic by 190.6% in the second quarter. Sei Investments Co. now owns 70,129 shares of the company's stock worth $1,424,000 after purchasing an additional 45,998 shares in the last quarter. Finally, Dana Investment Advisors Inc. acquired a new position in PubMatic in the second quarter worth about $839,000. Hedge funds and other institutional investors own 64.26% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Macquarie reaffirmed a "neutral" rating and issued a $19.00 price target on shares of PubMatic in a report on Thursday, November 14th. Evercore ISI upped 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. Royal Bank of Canada lowered their price target on PubMatic from $26.00 to $23.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 20th. Finally, Scotiabank started coverage on shares of PubMatic in a research note on Thursday. They issued a "sector perform" rating and a $17.00 target price for the company. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $21.13.

PubMatic Price Performance

PubMatic stock traded up $0.71 during trading hours on Friday, reaching $16.81. The stock had a trading volume of 319,933 shares, compared to its average volume of 478,542. 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 $15.39 and its 200-day moving average price is $17.49. The company has a market cap of $803.01 million, a price-to-earnings ratio of 54.23 and a beta of 1.40.

Insider Buying and Selling

In other news, Chairman Amar K. Goel sold 3,889 shares of the business's 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 completion of the transaction, the chairman now owns 7,935 shares of the company's stock, valued at $113,549.85. The trade was a 32.89 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Andrew Woods sold 3,076 shares of the company's stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $14.52, for a total transaction of $44,663.52. Following the completion of the transaction, the general counsel now directly 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 ninety days, insiders sold 108,459 shares of company stock worth $1,636,246. Corporate insiders own 2.90% of the company's stock.

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.