First Horizon Advisors Inc. Purchases New Position in PubMatic, Inc. (NASDAQ:PUBM)

First Horizon Advisors Inc. purchased a new stake in shares of PubMatic, Inc. (NASDAQ:PUBMGet Rating) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 1,151 shares of the company’s stock, valued at approximately $38,000.

Several other hedge funds have also made changes to their positions in PUBM. Fiera Capital Corp purchased a new stake in shares of PubMatic during the 4th quarter valued at approximately $48,487,000. Yale University purchased a new stake in shares of PubMatic during the 3rd quarter valued at approximately $15,465,000. New York State Common Retirement Fund purchased a new stake in shares of PubMatic during the 4th quarter valued at approximately $12,261,000. Millennium Management LLC lifted its stake in shares of PubMatic by 344.9% during the 3rd quarter. Millennium Management LLC now owns 403,074 shares of the company’s stock valued at $10,621,000 after buying an additional 312,471 shares in the last quarter. Finally, Morgan Stanley lifted its stake in shares of PubMatic by 1,361.7% during the 2nd quarter. Morgan Stanley now owns 334,409 shares of the company’s stock valued at $13,065,000 after buying an additional 311,531 shares in the last quarter. Institutional investors own 37.58% of the company’s stock.

Several analysts have issued reports on the stock. Raymond James lowered their target price on shares of PubMatic from $50.00 to $43.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 1st. JMP Securities lowered their target price on shares of PubMatic from $64.00 to $49.00 and set a “market outperform” rating on the stock in a research note on Tuesday, March 1st. KeyCorp lowered their target price on shares of PubMatic from $52.00 to $48.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 1st. Zacks Investment Research upgraded shares of PubMatic from a “sell” rating to a “hold” rating in a research report on Friday. Finally, Royal Bank of Canada reduced their target price on shares of PubMatic from $46.00 to $38.00 and set an “outperform” rating on the stock in a report on Wednesday, March 16th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $44.00.

Shares of PubMatic stock opened at $22.28 on Friday. The firm has a market cap of $1.16 billion, a PE ratio of 22.28 and a beta of 0.53. PubMatic, Inc. has a 12-month low of $18.30 and a 12-month high of $44.19. The company’s fifty day simple moving average is $23.65 and its two-hundred day simple moving average is $28.37.

PubMatic (NASDAQ:PUBMGet Rating) last announced its quarterly earnings results on Monday, February 28th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.16. The firm had revenue of $75.56 million during the quarter, compared to the consensus estimate of $75.34 million. As a group, sell-side analysts expect that PubMatic, Inc. will post 0.64 earnings per share for the current year.

In other news, CFO Steven Pantelick sold 2,501 shares of PubMatic stock in a transaction dated Wednesday, May 11th. The shares were sold at an average price of $19.79, for a total transaction of $49,494.79. Following the sale, the chief financial officer now owns 10,051 shares of the company’s stock, valued at approximately $198,909.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Amar K. Goel sold 24,000 shares of PubMatic stock in a transaction dated Monday, February 14th. The shares were sold at an average price of $29.85, for a total transaction of $716,400.00. The disclosure for this sale can be found here. In the last three months, insiders sold 143,693 shares of company stock worth $3,520,895. Insiders own 89.50% of the company’s stock.

About PubMatic (Get Rating)

PubMatic, Inc provides a cloud infrastructure platform that enables real-time programmatic advertising transactions for Internet content creators and advertisers worldwide. The company's solutions include Openwrap, a header bidding solution that provides enterprise-grade management and analytics tools; Openwrap OTT, a header bidding management solution for OTT; Openwrap SDK, a header bidding solution for in-app developers; private marketplace solutions; and media buyer consoles.

See Also

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Institutional Ownership by Quarter for PubMatic (NASDAQ:PUBM)

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