Wellington Management Group LLP Raises Stock Holdings in PubMatic, Inc. (NASDAQ:PUBM)

Wellington Management Group LLP lifted its holdings in PubMatic, Inc. (NASDAQ:PUBM - Free Report) by 222.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 752,329 shares of the company's stock after purchasing an additional 519,275 shares during the period. Wellington Management Group LLP owned about 1.52% of PubMatic worth $11,187,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PUBM. Millennium Management LLC purchased a new stake in shares of PubMatic during the second quarter valued at about $6,582,000. Acadian Asset Management LLC boosted its stake in PubMatic by 28,255.4% in the second quarter. Acadian Asset Management LLC now owns 291,493 shares of the company's stock valued at $5,915,000 after acquiring an additional 290,465 shares in the last quarter. Renaissance Technologies LLC grew its holdings in PubMatic by 28.8% in the second quarter. Renaissance Technologies LLC now owns 1,188,700 shares of the company's stock worth $24,142,000 after purchasing an additional 265,700 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of PubMatic by 122.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 434,867 shares of the company's stock worth $6,466,000 after purchasing an additional 239,406 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in shares of PubMatic by 17.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 676,464 shares of the company's stock valued at $10,059,000 after purchasing an additional 100,479 shares during the last quarter. 64.26% of the stock is currently owned by institutional investors.

PubMatic Trading Up 1.3 %

Shares of PUBM stock traded up $0.21 during trading hours on Monday, hitting $16.51. The company's stock had a trading volume of 334,279 shares, compared to its average volume of 458,573. The stock has a market cap of $788.68 million, a PE ratio of 53.26 and a beta of 1.40. PubMatic, Inc. has a 12-month low of $13.18 and a 12-month high of $25.36. The company has a 50 day moving average of $15.63 and a 200 day moving average of $17.16.

Insider Buying and Selling at PubMatic

In related news, Chairman Amar K. Goel sold 3,889 shares of PubMatic stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $14.31, for a total transaction of $55,651.59. Following the completion of the transaction, the chairman now directly owns 7,935 shares in the company, valued at approximately $113,549.85. This trade represents a 32.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Steven Pantelick sold 12,831 shares of the company's stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $14.31, for a total value of $183,611.61. Following the completion of the sale, the chief financial officer now owns 22,506 shares in the company, valued at approximately $322,060.86. This represents a 36.31 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 108,459 shares of company stock valued at $1,636,246. 2.90% of the stock is owned by insiders.

Analyst Ratings Changes

PUBM has been the topic of several research analyst reports. Evercore ISI boosted their target price on PubMatic from $20.00 to $22.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 13th. Scotiabank initiated coverage on PubMatic in a research note on Thursday, December 5th. They set a "sector perform" rating and a $17.00 price target on the stock. Macquarie reaffirmed a "neutral" rating and issued a $19.00 price objective on shares of PubMatic in a research report on Thursday, November 14th. Finally, Royal Bank of Canada dropped their target price on shares of PubMatic from $26.00 to $23.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 20th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $21.13.

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.