Charles Schwab Investment Management Inc. Boosts Stock Position in PubMatic, Inc. (NASDAQ:PUBM)

Charles Schwab Investment Management Inc. boosted its position in PubMatic, Inc. (NASDAQ:PUBM - Free Report) by 122.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 434,867 shares of the company's stock after purchasing an additional 239,406 shares during the period. Charles Schwab Investment Management Inc. owned about 0.88% of PubMatic worth $6,466,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Intech Investment Management LLC purchased a new position in shares of PubMatic during the 3rd quarter valued at about $170,000. Quest Partners LLC lifted its position in shares of PubMatic by 130.6% during the 3rd quarter. Quest Partners LLC now owns 40,539 shares of the company's stock valued at $603,000 after buying an additional 22,956 shares in the last quarter. Zions Bancorporation N.A. lifted its position in shares of PubMatic by 18.9% during the 3rd quarter. Zions Bancorporation N.A. now owns 73,343 shares of the company's stock valued at $1,091,000 after buying an additional 11,644 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of PubMatic by 99.2% during the 3rd quarter. Victory Capital Management Inc. now owns 72,083 shares of the company's stock valued at $1,072,000 after buying an additional 35,898 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new position in shares of PubMatic during the 3rd quarter valued at about $254,000. 64.26% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Rajeev K. Goel sold 25,000 shares of the business's stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $14.46, for a total transaction of $361,500.00. Following the transaction, the chief executive officer now owns 24,222 shares of the company's stock, valued at approximately $350,250.12. The trade was a 50.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Steven Pantelick sold 4,000 shares of the business's stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $16.56, for a total value of $66,240.00. Following the transaction, the chief financial officer now directly owns 22,506 shares in the company, valued at approximately $372,699.36. This represents a 15.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 108,459 shares of company stock valued at $1,636,246 in the last quarter. 2.90% of the stock is currently owned by insiders.

PubMatic Stock Performance

NASDAQ:PUBM traded down $0.22 during trading hours on Thursday, reaching $16.57. The stock had a trading volume of 188,358 shares, compared to its average volume of 459,107. PubMatic, Inc. has a 52 week low of $13.18 and a 52 week high of $25.36. The company has a 50 day moving average price of $15.52 and a two-hundred day moving average price of $17.36. The stock has a market capitalization of $791.50 million, a PE ratio of 54.16 and a beta of 1.40.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on PUBM shares. Scotiabank began coverage on PubMatic in a research report on Thursday, December 5th. They set a "sector perform" rating and a $17.00 price objective on the stock. Evercore ISI lifted their target price on PubMatic from $20.00 to $22.00 and gave the company an "outperform" rating in a research note on Wednesday, November 13th. Royal Bank of Canada decreased their target price on PubMatic from $26.00 to $23.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 20th. Finally, Macquarie reissued a "neutral" rating and set a $19.00 target price on shares of PubMatic in a research note on Thursday, November 14th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, PubMatic presently has an average rating of "Moderate Buy" and a consensus target price of $21.13.

PubMatic 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.