PubMatic, Inc. (NASDAQ:PUBM) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

PubMatic, Inc. (NASDAQ:PUBM) has received a consensus recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $20.00.

Several research analysts recently commented on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $20.00 price objective on shares of PubMatic in a report on Monday, January 27th. Royal Bank of Canada cut their price target on PubMatic from $21.00 to $19.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Macquarie reiterated a “neutral” rating and set a $19.00 price objective on shares of PubMatic in a research note on Thursday, November 14th. Evercore ISI increased their price objective on PubMatic from $20.00 to $22.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, Scotiabank began coverage on PubMatic in a report on Thursday, December 5th. They set a “sector perform” rating and a $17.00 target price for the company.

PubMatic Stock Performance

Shares of PUBM stock opened at $16.66 on Wednesday. PubMatic has a 52 week low of $13.18 and a 52 week high of $25.36. The firm’s 50-day simple moving average is $15.40 and its two-hundred day simple moving average is $15.51. The firm has a market cap of $795.85 million, a price-to-earnings ratio of 53.74 and a beta of 1.41.

Insiders Place Their Bets

In related news, General Counsel Andrew Woods sold 3,529 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $14.84, for a total value of $52,370.36. Following the completion of the transaction, the general counsel now directly owns 34,702 shares in the company, valued at $514,977.68. This trade represents a 9.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Amar K. Goel sold 4,087 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $14.84, for a total transaction of $60,651.08. Following the transaction, the chairman now directly owns 14,044 shares of the company’s stock, valued at $208,412.96. This represents a 22.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 139,489 shares of company stock worth $2,168,677 over the last three months. Company insiders own 2.90% of the company’s stock.

Institutional Trading of PubMatic

Institutional investors have recently added to or reduced their stakes in the business. Zions Bancorporation N.A. boosted its holdings in shares of PubMatic by 19.1% during the 4th quarter. Zions Bancorporation N.A. now owns 87,338 shares of the company’s stock valued at $1,283,000 after acquiring an additional 13,995 shares during the last quarter. EFG Asset Management North America Corp. lifted its position in PubMatic by 58.1% during the fourth quarter. EFG Asset Management North America Corp. now owns 133,756 shares of the company’s stock valued at $1,964,000 after purchasing an additional 49,133 shares during the period. LPL Financial LLC boosted its holdings in PubMatic by 5.1% in the fourth quarter. LPL Financial LLC now owns 112,250 shares of the company’s stock worth $1,634,000 after purchasing an additional 5,432 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in PubMatic in the 4th quarter worth approximately $401,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in PubMatic during the 4th quarter valued at $106,000. 64.26% of the stock is currently owned by hedge funds and other institutional investors.

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.