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

PubMatic, Inc. (NASDAQ:PUBM) has been assigned a consensus recommendation of “Moderate Buy” from the nine brokerages that are covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $21.13.

A number of research firms have recently weighed in on PUBM. Scotiabank initiated coverage on shares of PubMatic in a report on Thursday, December 5th. They issued a “sector perform” rating and a $17.00 target price on the stock. Evercore ISI boosted their price objective on PubMatic from $20.00 to $22.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Finally, Macquarie restated a “neutral” rating and set a $19.00 price objective on shares of PubMatic in a research report on Thursday, November 14th.

Insider Transactions at PubMatic

In other news, Chairman Amar K. Goel sold 3,889 shares of the company’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 transaction, the chairman now directly owns 7,935 shares in the company, valued at approximately $113,549.85. This represents a 32.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Andrew Woods sold 3,076 shares of PubMatic stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $14.52, for a total transaction of $44,663.52. Following the sale, the general counsel now owns 32,349 shares of the company’s stock, valued at $469,707.48. The trade was a 8.68 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 115,459 shares of company stock worth $1,751,886. 2.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its holdings in shares of PubMatic by 8.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 156,134 shares of the company’s stock worth $3,171,000 after buying an additional 11,712 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of PubMatic by 56.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,132 shares of the company’s stock valued at $185,000 after acquiring an additional 3,280 shares in the last quarter. Panagora Asset Management Inc. lifted its stake in PubMatic by 7.0% in the second quarter. Panagora Asset Management Inc. now owns 227,948 shares of the company’s stock worth $4,630,000 after acquiring an additional 14,907 shares during the period. Principal Financial Group Inc. grew its holdings in PubMatic by 14.8% during the 2nd quarter. Principal Financial Group Inc. now owns 30,236 shares of the company’s stock worth $614,000 after acquiring an additional 3,894 shares in the last quarter. Finally, Versor Investments LP increased its position in PubMatic by 8.2% during the 2nd quarter. Versor Investments LP now owns 22,186 shares of the company’s stock valued at $451,000 after purchasing an additional 1,677 shares during the period. 64.26% of the stock is currently owned by hedge funds and other institutional investors.

PubMatic Stock Performance

PUBM stock opened at $15.10 on Tuesday. The firm has a fifty day moving average price of $15.71 and a 200 day moving average price of $16.82. PubMatic has a fifty-two week low of $13.18 and a fifty-two week high of $25.36. The firm has a market cap of $721.28 million, a PE ratio of 48.71 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.