Avestar Capital LLC Buys Shares of 320,000 PubMatic, Inc. (NASDAQ:PUBM)

Avestar Capital LLC purchased a new position in shares of PubMatic, Inc. (NASDAQ:PUBM) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 320,000 shares of the company’s stock, valued at approximately $4,701,000.

Other hedge funds have also made changes to their positions in the company. Leibman Financial Services Inc. boosted its stake in shares of PubMatic by 17.0% during the fourth quarter. Leibman Financial Services Inc. now owns 56,690 shares of the company’s stock valued at $833,000 after acquiring an additional 8,231 shares during the last quarter. Nordea Investment Management AB raised its stake in PubMatic by 377.4% during the fourth quarter. Nordea Investment Management AB now owns 340,544 shares of the company’s stock worth $5,101,000 after purchasing an additional 269,217 shares during the period. JPMorgan Chase & Co. raised its position in shares of PubMatic by 239.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 62,349 shares of the company’s stock worth $927,000 after buying an additional 43,971 shares during the period. Franklin Resources Inc. acquired a new position in shares of PubMatic in the 3rd quarter valued at about $941,000. Finally, Virtu Financial LLC purchased a new stake in PubMatic during the third quarter worth approximately $240,000. Hedge funds and other institutional investors own 64.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. JMP Securities reaffirmed a “market outperform” rating and issued a $20.00 price objective on shares of PubMatic in a research report on Monday, January 27th. Scotiabank started coverage on PubMatic in a report on Thursday, December 5th. They set a “sector perform” rating and a $17.00 price objective on the stock. Royal Bank of Canada reduced their target price on PubMatic from $21.00 to $19.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Evercore ISI lifted their price target on shares of PubMatic from $20.00 to $22.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Finally, Macquarie reaffirmed a “neutral” rating and issued a $19.00 price target on shares of PubMatic in a report on Thursday, November 14th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $20.00.

Insider Buying and Selling at PubMatic

In related news, General Counsel Andrew Woods sold 3,529 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $14.84, for a total value of $52,370.36. Following the sale, the general counsel now owns 34,702 shares of the company’s stock, valued at approximately $514,977.68. This trade represents a 9.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 owns 22,506 shares of the company’s stock, valued at $372,699.36. This represents a 15.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 139,489 shares of company stock worth $2,168,677 over the last ninety days. Company insiders own 2.90% of the company’s stock.

PubMatic Trading Up 2.9 %

Shares of NASDAQ PUBM opened at $17.14 on Thursday. The company has a market capitalization of $818.78 million, a price-to-earnings ratio of 55.29 and a beta of 1.41. PubMatic, Inc. has a twelve month low of $13.18 and a twelve month high of $25.36. The business has a 50 day simple moving average of $15.41 and a 200-day simple moving average of $15.52.

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.