JPMorgan Chase & Co. acquired a new position in shares of PubMatic, Inc. (NASDAQ:PUBM) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 146,500 shares of the company’s stock, valued at approximately $4,096,000.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Premier Fund Managers Ltd acquired a new stake in PubMatic during the 4th quarter worth $111,000. Davidson Kempner Capital Management LP purchased a new stake in shares of PubMatic in the fourth quarter valued at about $223,000. STA Wealth Management LLC purchased a new stake in shares of PubMatic in the fourth quarter valued at about $336,000. Alyeska Investment Group L.P. purchased a new stake in shares of PubMatic in the fourth quarter valued at about $693,000. Finally, Oppenheimer & Co. Inc. purchased a new stake in shares of PubMatic in the fourth quarter valued at about $813,000.
NASDAQ:PUBM opened at $49.83 on Friday. The firm has a 50 day moving average price of $52.44. PubMatic, Inc. has a 1-year low of $22.42 and a 1-year high of $76.96.
Several analysts have recently weighed in on the stock. JMP Securities lifted their target price on shares of PubMatic from $34.00 to $64.00 and gave the company an “outperform” rating in a report on Wednesday, February 24th. Evercore ISI assumed coverage on shares of PubMatic in a report on Tuesday, April 13th. They set an “in-line” rating and a $53.00 price objective on the stock. Raymond James began coverage on shares of PubMatic in a report on Monday, January 4th. They set a “market perform” rating on the stock. Jefferies Financial Group began coverage on shares of PubMatic in a report on Monday, January 4th. They issued a “buy” rating and a $38.00 price target on the stock. Finally, Oppenheimer upped their price target on shares of PubMatic from $32.00 to $55.00 and gave the company an “outperform” rating in a report on Wednesday, February 24th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $50.67.
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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