PubMatic, Inc. (NASDAQ:PUBM) Short Interest Down 12.3% in February

PubMatic, Inc. (NASDAQ:PUBM) saw a large decrease in short interest in the month of February. As of February 15th, there was short interest totalling 947,500 shares, a decrease of 12.3% from the January 31st total of 1,080,000 shares. Based on an average trading volume of 318,900 shares, the days-to-cover ratio is presently 3.0 days.

Insider Transactions at PubMatic

In related news, General Counsel Andrew Woods sold 3,529 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $14.84, for a total transaction of $52,370.36. Following the sale, the general counsel now owns 34,702 shares of the company’s stock, valued at approximately $514,977.68. This represents a 9.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Mukul Kumar sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $16.51, for a total transaction of $115,570.00. Following the completion of the transaction, the insider now owns 52,005 shares of the company’s stock, valued at $858,602.55. This trade represents a 11.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 101,811 shares of company stock worth $1,554,021. 2.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. bought a new stake in shares of PubMatic during the fourth quarter valued at approximately $27,000. Cubist Systematic Strategies LLC bought a new stake in shares of PubMatic in the 4th quarter worth $29,000. New York State Teachers Retirement System bought a new stake in shares of PubMatic in the 3rd quarter worth $51,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in PubMatic in the 4th quarter worth about $57,000. Finally, FMR LLC lifted its stake in PubMatic by 201.6% during the 3rd quarter. FMR LLC now owns 4,053 shares of the company’s stock valued at $60,000 after acquiring an additional 2,709 shares during the period. Institutional investors own 64.26% of the company’s stock.

PubMatic Trading Down 6.5 %

Shares of PUBM stock traded down $0.70 during midday trading on Thursday, reaching $10.01. 270,087 shares of the stock were exchanged, compared to its average volume of 419,797. The firm has a market cap of $478.20 million, a PE ratio of 32.19 and a beta of 1.48. The company’s 50 day moving average is $14.73 and its two-hundred day moving average is $15.10. PubMatic has a 1 year low of $9.92 and a 1 year high of $25.36.

PubMatic (NASDAQ:PUBM) last posted its quarterly earnings data on Thursday, February 27th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.11). PubMatic had a return on equity of 6.12% and a net margin of 5.96%. The firm had revenue of $85.50 million during the quarter, compared to the consensus estimate of $88.24 million. As a group, equities analysts expect that PubMatic will post 0.22 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on PUBM. Royal Bank of Canada lowered their price objective on shares of PubMatic from $21.00 to $19.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Lake Street Capital lowered their price target on PubMatic from $24.00 to $21.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Evercore ISI upped 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. Scotiabank reduced their price objective on PubMatic from $17.00 to $15.00 and set a “sector perform” rating on the stock in a research report on Friday, February 28th. Finally, JMP Securities restated a “market outperform” rating and issued a $20.00 target price on shares of PubMatic in a research report on Monday, January 27th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, PubMatic presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.89.

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.