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

PubMatic, Inc. (NASDAQ:PUBM) has received a consensus rating of “Moderate Buy” from the eight brokerages that are covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $21.71.

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

Insider Activity at PubMatic

In other news, General Counsel Andrew Woods sold 3,076 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $14.52, for a total value of $44,663.52. Following the completion of the sale, the general counsel now owns 32,349 shares of the company’s stock, valued at $469,707.48. This represents a 8.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Amar K. Goel sold 3,889 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $14.31, for a total value of $55,651.59. Following the sale, the chairman now owns 7,935 shares in the company, valued at approximately $113,549.85. The trade was a 32.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 72,159 shares of company stock worth $1,041,709. 2.90% of the stock is owned by insiders.

Institutional Trading of PubMatic

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of PubMatic by 0.5% during the first quarter. Vanguard Group Inc. now owns 4,254,391 shares of the company’s stock worth $100,914,000 after purchasing an additional 22,713 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of PubMatic by 7.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 22,311 shares of the company’s stock worth $530,000 after acquiring an additional 1,561 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in PubMatic by 149.6% in the first quarter. Public Employees Retirement System of Ohio now owns 29,207 shares of the company’s stock valued at $693,000 after purchasing an additional 17,507 shares during the last quarter. Leibman Financial Services Inc. acquired a new stake in PubMatic during the 2nd quarter valued at approximately $824,000. Finally, SG Americas Securities LLC increased its holdings in PubMatic by 97.6% during the 2nd quarter. SG Americas Securities LLC now owns 8,950 shares of the company’s stock worth $182,000 after purchasing an additional 4,420 shares during the last quarter. Institutional investors and hedge funds own 64.26% of the company’s stock.

PubMatic Trading Down 0.9 %

Shares of PUBM opened at $16.68 on Friday. The stock’s 50 day moving average is $15.22 and its two-hundred day moving average is $17.64. PubMatic has a twelve month low of $13.18 and a twelve month high of $25.36. The firm has a market capitalization of $796.80 million, a PE ratio of 53.81 and a beta of 1.40.

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.