Avidian Wealth Solutions LLC Buys New Holdings in PubMatic, Inc. (NASDAQ:PUBM)

Avidian Wealth Solutions LLC bought a new stake in PubMatic, Inc. (NASDAQ:PUBM) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 10,000 shares of the company’s stock, valued at approximately $264,000.

A number of other institutional investors have also recently modified their holdings of PUBM. Royal Bank of Canada boosted its holdings in PubMatic by 68.7% in the second quarter. Royal Bank of Canada now owns 835,150 shares of the company’s stock valued at $32,630,000 after acquiring an additional 340,213 shares during the last quarter. Morgan Stanley boosted its holdings in PubMatic by 1,361.7% in the second quarter. Morgan Stanley now owns 334,409 shares of the company’s stock valued at $13,065,000 after acquiring an additional 311,531 shares during the last quarter. Neuberger Berman Group LLC boosted its holdings in PubMatic by 693.8% in the second quarter. Neuberger Berman Group LLC now owns 338,829 shares of the company’s stock valued at $13,220,000 after acquiring an additional 296,146 shares during the last quarter. Vanguard Group Inc. boosted its holdings in PubMatic by 89.1% in the second quarter. Vanguard Group Inc. now owns 528,536 shares of the company’s stock valued at $20,650,000 after acquiring an additional 249,087 shares during the last quarter. Finally, Marshall Wace North America L.P. acquired a new position in shares of PubMatic during the second quarter worth about $7,556,000. Hedge funds and other institutional investors own 18.40% of the company’s stock.

NASDAQ:PUBM opened at $26.20 on Friday. The firm has a market capitalization of $1.34 billion and a PE ratio of 30.82. The stock has a 50 day moving average of $34.85 and a 200-day moving average of $31.32. PubMatic, Inc. has a 52 week low of $21.61 and a 52 week high of $76.96.

PubMatic (NASDAQ:PUBM) last posted its earnings results on Tuesday, November 9th. The company reported $0.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.15. The company had revenue of $58.09 million for the quarter, compared to the consensus estimate of $52.29 million. On average, sell-side analysts forecast that PubMatic, Inc. will post 0.77 EPS for the current fiscal year.

PUBM has been the topic of a number of recent research reports. Zacks Investment Research cut PubMatic from a “buy” rating to a “hold” rating in a research note on Wednesday. Royal Bank of Canada boosted their price objective on PubMatic from $47.00 to $56.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 10th. Oppenheimer boosted their price objective on PubMatic from $45.00 to $50.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 10th. Raymond James boosted their price objective on PubMatic from $43.00 to $50.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 10th. Finally, Berenberg Bank initiated coverage on PubMatic in a research note on Wednesday, September 22nd. They issued a “buy” rating and a $37.00 price target on the stock. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $48.67.

In other news, CEO Rajeev K. Goel sold 14,721 shares of the business’s stock in a transaction that occurred on Wednesday, November 10th. The stock was sold at an average price of $41.22, for a total transaction of $606,799.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Amar K. Goel sold 3,407 shares of the business’s stock in a transaction that occurred on Monday, October 18th. The stock was sold at an average price of $30.00, for a total value of $102,210.00. The disclosure for this sale can be found here. Insiders have sold 377,371 shares of company stock valued at $13,529,227 over the last ninety days. Corporate insiders own 89.50% of the company’s stock.

About PubMatic

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 PubMatic Cloud, which offers a customizable platform as a service; 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.

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Institutional Ownership by Quarter for PubMatic (NASDAQ:PUBM)

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