Avestar Capital LLC Acquires New Position in PubMatic, Inc. (NASDAQ:PUBM)

Avestar Capital LLC bought a new position in PubMatic, Inc. (NASDAQ:PUBM) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 320,000 shares of the company’s stock, valued at approximately $4,701,000. Avestar Capital LLC owned approximately 0.67% of PubMatic at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Leibman Financial Services Inc. grew its position in shares of PubMatic by 17.0% during the 4th quarter. Leibman Financial Services Inc. now owns 56,690 shares of the company’s stock worth $833,000 after buying an additional 8,231 shares in the last quarter. Nordea Investment Management AB grew its holdings in PubMatic by 377.4% during the 4th quarter. Nordea Investment Management AB now owns 340,544 shares of the company’s stock worth $5,101,000 after acquiring an additional 269,217 shares in the last quarter. JPMorgan Chase & Co. increased its position in PubMatic by 239.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 62,349 shares of the company’s stock valued at $927,000 after purchasing an additional 43,971 shares during the period. Franklin Resources Inc. bought a new stake in shares of PubMatic in the 3rd quarter valued at about $941,000. Finally, Virtu Financial LLC bought a new stake in shares of PubMatic in the 3rd quarter valued at about $240,000. 64.26% of the stock is currently owned by institutional investors.

PubMatic Stock Up 2.9 %

PubMatic stock opened at $17.14 on Thursday. The stock has a 50-day moving average price of $15.41 and a 200 day moving average price of $15.52. 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 52 week low of $13.18 and a 52 week high of $25.36.

Insiders Place Their Bets

In other PubMatic news, insider Mukul Kumar sold 7,000 shares of PubMatic stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $16.51, for a total transaction of $115,570.00. Following the completion of the transaction, the insider now owns 52,005 shares in the company, valued at approximately $858,602.55. This trade represents a 11.86 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Rajeev K. Goel sold 24,891 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $15.14, for a total value of $376,849.74. Following the completion of the transaction, the chief executive officer now directly owns 5,896 shares of the company’s stock, valued at $89,265.44. The trade was a 80.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 139,489 shares of company stock valued at $2,168,677. 2.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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

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.