PubMatic, Inc. $PUBM Shares Bought by CenterBook Partners LP

CenterBook Partners LP increased its holdings in PubMatic, Inc. (NASDAQ:PUBM) by 239.0% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 748,460 shares of the company’s stock after buying an additional 527,650 shares during the period. CenterBook Partners LP’s holdings in PubMatic were worth $6,197,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cardinal Point Capital Management ULC bought a new position in PubMatic in the third quarter worth about $327,000. AlphaQuest LLC raised its position in shares of PubMatic by 420.8% during the 3rd quarter. AlphaQuest LLC now owns 57,528 shares of the company’s stock worth $476,000 after purchasing an additional 46,482 shares during the period. Diversified Investment Strategies LLC boosted its position in PubMatic by 6.3% during the 3rd quarter. Diversified Investment Strategies LLC now owns 85,000 shares of the company’s stock valued at $704,000 after purchasing an additional 5,000 shares during the period. SG Americas Securities LLC acquired a new position in PubMatic during the 3rd quarter valued at approximately $161,000. Finally, Diversified Trust Co grew its stake in PubMatic by 13.1% during the 3rd quarter. Diversified Trust Co now owns 14,704 shares of the company’s stock worth $122,000 after buying an additional 1,699 shares during the last quarter. Institutional investors and hedge funds own 64.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on PUBM shares. Weiss Ratings reiterated a “sell (d)” rating on shares of PubMatic in a research note on Thursday, January 22nd. Rosenblatt Securities lifted their price objective on shares of PubMatic from $17.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, November 11th. Wall Street Zen lowered shares of PubMatic from a “hold” rating to a “sell” rating in a research note on Saturday, January 10th. B. Riley Financial raised their price target on shares of PubMatic from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Tuesday, November 11th. Finally, Evercore lifted their price target on PubMatic from $12.00 to $13.00 and gave the company an “outperform” rating in a report on Tuesday, November 11th. Five investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, PubMatic has an average rating of “Hold” and an average target price of $12.44.

PubMatic Trading Down 3.8%

Shares of NASDAQ:PUBM opened at $6.29 on Wednesday. The company has a 50 day moving average of $7.98 and a 200-day moving average of $8.47. The firm has a market cap of $291.98 million, a P/E ratio of -33.11 and a beta of 1.58. PubMatic, Inc. has a twelve month low of $6.15 and a twelve month high of $15.84.

Insider Transactions at PubMatic

In other news, General Counsel Andrew Woods sold 4,881 shares of the company’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $8.61, for a total value of $42,025.41. Following the completion of the sale, the general counsel owned 59,769 shares in the company, valued at $514,611.09. This represents a 7.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Rajeev K. Goel sold 44,000 shares of the firm’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $7.26, for a total value of $319,440.00. The SEC filing for this sale provides additional information. Insiders sold 386,373 shares of company stock worth $3,150,103 in the last three months. 26.42% of the stock is currently owned by company insiders.

PubMatic Profile

PubMatic is a cloud-based digital advertising technology company that provides a supply-side platform (SSP) enabling publishers to automate and optimize the sale of their ad inventory across display, mobile, video and connected TV channels. Its core offerings include real-time bidding infrastructure, header bidding solutions under the OpenWrap brand and data analytics tools that deliver actionable insights on audience engagement and monetization performance. By facilitating seamless auctions and providing transparent reporting, PubMatic helps publishers maximize yield while improving buyer experiences.

Founded in 2006 by Rajeev Goel and a team of ad-tech veterans, PubMatic grew from an early entrant in programmatic selling to a publicly traded company, listing on the Nasdaq (symbol: PUBM) in December 2020.