PubMatic, Inc. (NASDAQ:PUBM) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its holdings in PubMatic, Inc. (NASDAQ:PUBM) by 24.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 22,944 shares of the company’s stock after selling 7,292 shares during the quarter. Principal Financial Group Inc.’s holdings in PubMatic were worth $341,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PUBM. Redwood Wealth Management Group LLC acquired a new position in PubMatic in the second quarter valued at $29,000. Founders Capital Management increased its holdings in PubMatic by 100.0% in the third quarter. Founders Capital Management now owns 2,000 shares of the company’s stock valued at $30,000 after buying an additional 1,000 shares in the last quarter. Headlands Technologies LLC purchased a new position in PubMatic in the second quarter valued at about $38,000. New York State Teachers Retirement System purchased a new position in PubMatic in the third quarter valued at about $51,000. Finally, International Assets Investment Management LLC increased its holdings in PubMatic by 1,387.1% in the third quarter. International Assets Investment Management LLC now owns 5,205 shares of the company’s stock valued at $77,000 after buying an additional 4,855 shares in the last quarter. Hedge funds and other institutional investors own 64.26% of the company’s stock.

PubMatic Stock Performance

Shares of PUBM stock opened at $16.18 on Monday. PubMatic, Inc. has a 52-week low of $13.18 and a 52-week high of $25.36. The stock has a market cap of $772.87 million, a price-to-earnings ratio of 52.19 and a beta of 1.39. The firm has a fifty day moving average of $15.04 and a 200-day moving average of $17.93.

Insiders Place Their Bets

In other PubMatic news, CEO Rajeev K. Goel sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $15.25, for a total transaction of $381,250.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Andrew Woods sold 2,710 shares of PubMatic stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $15.30, for a total transaction of $41,463.00. Following the completion of the sale, the general counsel now owns 26,739 shares in the company, valued at $409,106.70. This trade represents a 9.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 104,769 shares of company stock valued at $1,539,509 in the last 90 days. 2.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on PUBM shares. Raymond James lowered shares of PubMatic from an “outperform” rating to a “market perform” rating in a research report on Friday, August 9th. Macquarie restated a “neutral” rating and set a $19.00 target price on shares of PubMatic in a research report on Thursday, November 14th. Evercore ISI raised their target price on shares of PubMatic from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Royal Bank of Canada decreased their target price on shares of PubMatic from $26.00 to $23.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 20th. Finally, B. Riley decreased their price target on shares of PubMatic from $31.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, PubMatic presently has an average rating of “Moderate Buy” and a consensus target price of $21.71.

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.