Virtu Financial LLC Takes $240,000 Position in PubMatic, Inc. (NASDAQ:PUBM)

Virtu Financial LLC bought a new stake in PubMatic, Inc. (NASDAQ:PUBM) in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 16,165 shares of the company’s stock, valued at approximately $240,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PUBM. Wellington Management Group LLP increased its stake in PubMatic by 222.8% during the 3rd quarter. Wellington Management Group LLP now owns 752,329 shares of the company’s stock valued at $11,187,000 after purchasing an additional 519,275 shares in the last quarter. Millennium Management LLC bought a new stake in shares of PubMatic during the second quarter worth about $6,582,000. Victory Capital Management Inc. raised its holdings in shares of PubMatic by 99.2% in the 3rd 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 lifted its position in PubMatic by 28.8% in the 2nd quarter. Renaissance Technologies LLC now owns 1,188,700 shares of the company’s stock valued at $24,142,000 after acquiring an additional 265,700 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in PubMatic by 122.5% in 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. 64.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on PUBM. Evercore ISI increased their price objective on PubMatic from $20.00 to $22.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Scotiabank assumed coverage on PubMatic in a research note on Thursday, December 5th. They set a “sector perform” rating and a $17.00 price objective on the stock. Macquarie reiterated a “neutral” rating and issued a $19.00 target price on shares of PubMatic in a research note on Thursday, November 14th. Finally, Royal Bank of Canada lowered their target price on shares of PubMatic from $26.00 to $23.00 and set an “outperform” rating for the company in a report on Tuesday, August 20th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, PubMatic presently has a consensus rating of “Moderate Buy” and an average target price of $21.13.

Insider Buying and Selling

In other news, CFO Steven Pantelick sold 12,831 shares of the company’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $14.31, for a total transaction of $183,611.61. Following the transaction, the chief financial officer now owns 22,506 shares of the company’s stock, valued at $322,060.86. This represents a 36.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mukul Kumar sold 7,000 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $16.52, for a total value of $115,640.00. Following the transaction, the insider now owns 44,888 shares of the company’s stock, valued at $741,549.76. The trade was a 13.49 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 115,459 shares of company stock valued at $1,751,886. 2.90% of the stock is owned by company insiders.

PubMatic Stock Performance

Shares of PUBM stock opened at $16.27 on Wednesday. PubMatic, Inc. has a 52 week low of $13.18 and a 52 week high of $25.36. The firm’s 50-day simple moving average is $15.66 and its two-hundred day simple moving average is $17.12. The firm has a market cap of $777.17 million, a price-to-earnings ratio of 52.48 and a beta of 1.40.

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.