PubMatic, Inc. (NASDAQ:PUBM) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of PubMatic, Inc. (NASDAQ:PUBM) have been assigned a consensus rating of “Moderate Buy” from the eight analysts that are presently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $21.71.

A number of equities research analysts have weighed in on PUBM shares. B. Riley dropped their target price on shares of PubMatic from $31.00 to $22.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Jefferies Financial Group dropped their price target on PubMatic from $26.00 to $16.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. Macquarie reaffirmed a “neutral” rating and issued a $19.00 price objective on shares of PubMatic in a report on Thursday, November 14th. Royal Bank of Canada dropped their target price on shares of PubMatic from $26.00 to $23.00 and set an “outperform” rating on the stock in a report on Tuesday, August 20th. Finally, Evercore ISI increased their price objective on shares of PubMatic from $20.00 to $22.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th.

Insider Transactions at PubMatic

In other PubMatic news, CFO Steven Pantelick sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $15.21, for a total value of $60,840.00. Following the transaction, the chief financial officer now owns 22,506 shares in the company, valued at approximately $342,316.26. This represents a 15.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Andrew Woods sold 2,710 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $15.30, for a total transaction of $41,463.00. Following the completion of the transaction, the general counsel now directly 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 103,869 shares of company stock valued at $1,525,262 over the last three months. Company insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of PUBM. Wellington Management Group LLP raised its holdings in PubMatic by 222.8% in the 3rd quarter. Wellington Management Group LLP now owns 752,329 shares of the company’s stock worth $11,187,000 after acquiring an additional 519,275 shares during the period. Millennium Management LLC acquired a new stake in shares of PubMatic in the second quarter worth $6,582,000. Acadian Asset Management LLC increased its position in PubMatic by 28,255.4% during the second quarter. Acadian Asset Management LLC now owns 291,493 shares of the company’s stock worth $5,915,000 after acquiring an additional 290,465 shares during the period. Renaissance Technologies LLC increased its holdings in shares of PubMatic by 28.8% during the 2nd quarter. Renaissance Technologies LLC now owns 1,188,700 shares of the company’s stock worth $24,142,000 after purchasing an additional 265,700 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of PubMatic by 122.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 434,867 shares of the company’s stock valued at $6,466,000 after buying an additional 239,406 shares during the last quarter. Institutional investors own 64.26% of the company’s stock.

PubMatic Price Performance

NASDAQ PUBM opened at $15.83 on Friday. The firm has a market capitalization of $756.15 million, a P/E ratio of 51.06 and a beta of 1.39. PubMatic has a 1-year low of $13.18 and a 1-year high of $25.36. The business’s 50-day simple moving average is $15.12 and its 200-day simple moving average is $17.82.

PubMatic Company Profile

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.