PubMatic, Inc. (NASDAQ:PUBM) Receives $20.63 Average PT from Analysts

Shares of PubMatic, Inc. (NASDAQ:PUBM) have been given a consensus recommendation of “Moderate Buy” by the nine brokerages that are covering the firm, Marketbeat reports. Four 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 brokers that have issued ratings on the stock in the last year is $20.63.

Several brokerages have recently commented on PUBM. Royal Bank of Canada reduced their target price on PubMatic from $21.00 to $19.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Scotiabank began coverage on shares of PubMatic in a research note on Thursday, December 5th. They set a “sector perform” rating and a $17.00 price objective for the company. Evercore ISI lifted 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. Finally, Macquarie restated a “neutral” rating and issued a $19.00 price target on shares of PubMatic in a research report on Thursday, November 14th.

PubMatic Stock Performance

NASDAQ PUBM opened at $14.52 on Friday. PubMatic has a 1 year low of $13.18 and a 1 year high of $25.36. The business’s fifty day moving average is $15.56 and its two-hundred day moving average is $16.19. The stock has a market capitalization of $693.62 million, a P/E ratio of 46.84 and a beta of 1.41.

Insiders Place Their Bets

In related news, CEO Rajeev K. Goel sold 18,391 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $15.44, for a total value of $283,957.04. Following the completion of the sale, the chief executive officer now owns 12,505 shares of the company’s stock, valued at approximately $193,077.20. The trade was a 59.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Andrew Woods sold 3,529 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 $52,370.36. Following the transaction, the general counsel now directly owns 34,702 shares in the company, valued at approximately $514,977.68. The trade was a 9.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 127,190 shares of company stock worth $1,956,331 in the last quarter. 2.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PubMatic

A number of large investors have recently bought and sold shares of the business. Founders Capital Management increased its holdings in shares of PubMatic by 100.0% during the 3rd quarter. Founders Capital Management now owns 2,000 shares of the company’s stock valued at $30,000 after acquiring an additional 1,000 shares during the last quarter. FMR LLC grew its holdings in PubMatic by 201.6% during the third quarter. FMR LLC now owns 4,053 shares of the company’s stock valued at $60,000 after purchasing an additional 2,709 shares during the last quarter. New York State Teachers Retirement System bought a new position in shares of PubMatic in the third quarter valued at approximately $51,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of PubMatic by 37.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,593 shares of the company’s stock valued at $187,000 after purchasing an additional 3,461 shares during the period. Finally, International Assets Investment Management LLC lifted its stake in shares of PubMatic by 1,387.1% in the third quarter. International Assets Investment Management LLC now owns 5,205 shares of the company’s stock worth $77,000 after buying an additional 4,855 shares during the last quarter. 64.26% of the stock is currently owned by 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.